Final years and termination Three-dollar piece

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philadelphia mint chief coiner oliver bosbyshell responsible many unofficial pieces leaving facility. seen on mint medal george t. morgan.


with rise of collecting interest in three-dollar piece in 1880s, unscrupulous employees @ philadelphia mint enriched illicit striking of earlier-date pieces, including 1873, 1875, , 1876. bowers, in sylloge of bass collection, particularly blames these irregularities on oliver bosbyshell, chief coiner @ philadelphia 1876 1885. during period, quantities of pattern coins, restrikes, , pieces struck in different metals flowed well-connected collectors , dealers, , bosbyshell sold large personal collection of such pieces shortly after leaving office chief coiner. although bosbyshell returned philadelphia mint superintendent 1889 1894, not appear have resumed illicit activities.


the relatively large mintage of 6,000 in 1887 due fad sweeping country whereby men present lady friends coin 1 side ground off , replaced woman s initials. many wealthy suitors preferred use gold coin presentation. larger-than-usual number of proof pieces struck in 1888 , held mint in anticipation of future trades collectors items mint desired coin collection. 1888 piece common proof coin in series, official mintage of 200 pieces.


in 1889, mint director james p. kimball sent letter house of representatives committee on coinage, weights, , measures urging abolition of three-dollar piece. kimball wrote, denomination serves no useful purpose, present coinage being in fact limited production cabinet [coin collecting] purposes. value of over $153,000 in three-dollar pieces still on hand @ mint @ philadelphia can not disposed of, owing unpopularity of coin circulating medium. gold dollar , three-dollar piece not coined after 1889, , abolished congress on september 26, 1890.


in 1890s, 49,087 three-dollar pieces melted obsolete @ philadelphia mint. although no list kept years, bowers suggests many of pieces dated 1874 or 1878 (both years relatively high mintages), or final years of series. in 1890s, typically commanded premium of 25 or 50 cents @ exchange brokers. in 1920s, three-dollar pieces sold @ premium when other denominations of gold coinage remained @ face value. 2014 edition of r.s. yeoman s guide book of united states coins lists 1854 cheapest three-dollar piece in lowest listed condition (very fine or ms-20) @ $825. 1855-s in proof record holder in sales price denomination, selling @ auction in 2011 $1,322,500.


in 1934, mint director nellie tayloe ross wrote in annual report total of 539,792 three-dollar pieces had been coined, of 452,572 were struck @ philadelphia, 62,350 at san francisco (not including 1870-s), 24,000 at new orleans, , 1,120 at dahlonega. according breen, three-dollar pieces represent relics of interesting abortive experiment; today among highly coveted of american gold coins . new york coin dealer norman stack stated in 1950s, rare. there no such thing common three-dollar gold piece.








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