This frosty 1873 $3 offers exceptional all-around eye appeal. The boldly lustrous honey-gold surfaces display bright mint frost and hints of pale rose iridescence. Both sides are nearly pristine. The mintage of 41,800 pieces is the second highest of the series, exceeded only by that of 1878. For that reason the 1874 is frequently purchased for type set purposes. The mintage was delivered by the Mint’s coiner in two batches with 21,800 pieces on March 21 and the other 20,000 on April 25. Much of the metal used for the $3s came from worn gold coins taken in by the Treasury Department, plus the melting of unwanted gold dollars then on hand (see below). Despite its common status – nearly all survivors are AU to the lower end of Mint State – the present gem Mint State coin is anything but “common”; the PCGS Population statistics shown below tell the story. The $3 gold denomination was still absent from circulation on the Eastern seaboard, as were the other gold denominations, though gold continued to circulate in Western commerce. Under the provisions of the Coinage Act of February 12, 1873, $32,717,185.50 in worn gold coins had gone to the melting crucibles and had sustained a loss of $195,568.98, a small amount in the scheme of things. PCGS# 7998. NGC ID: 25MX.
