This incredible 1864 $3 is frosty pale honey-gold with splashes of sunset orange and pale sky blue throughout. The luster fairly leaps from the near-immaculate surfaces. The present gem represents an early emission from the dies with diagonal striae present on both sides indicating that this is an early impression. The strike is bold and complete with all of Longacre’s intended design elements fresh and crisp, including the vertical split in the reverse bow. Date repunched, plainest at 18; this is seemingly a calling card of all circulation strike 1864 $3s. The obverse yields no marks of any measure to the naked eye, and few marks under magnification. A patch of natural planchet surface is found between the point of Liberty’s truncation and the U in UNITED where some extremely fine lines give the appearance of faint adjustment marks; when tilted in just the right light similar lines appear on Liberty’s cheek. The reverse fares remarkably well and is free of even the most trivial ticks or blemishes. A hint of natural planchet surface can be seen at the ends of the wreath at 12:00, but even this anomaly takes a moment to locate. Only 2,630 circulation strikes of the date were produced, the smallest Philadelphia Mint output to this time. It is thought that just 125 to 175 can be accounted for today. A pleasing VF or EF would be a feather in most collectors’ caps, and AU coins should be considered rare. The 1864 $3 is a notable rarity in choice or finer Mint State grades. At the Mint State-67 level offered here, it has no peers. This is absolutely one of the most prominent highlights in this monumental offering of $3 gold coins. Four dies were shipped to San Francisco for $3s this year but no coins were forthcoming. PCGS# 7985. NGC ID: 25MK.
