1879 Three-Dollar Gold Piece. MS-64 (PCGS).This delightful example sports fully struck, satiny devices and well mirrored fields. Orange-gold in color, both sides are semi-prooflike in finish with a pleasingly smooth appearance at the assigned grade level. By the late 1870s the usefulness of the three-dollar gold piece in commerce (such as it ever was) had long since passed and, with only a single exception in 1874, yearly circulation strike deliveries were limited. In anticipation of the federal governments mandate that gold coins would once again be exchangeable at par with paper bills on January 1, 1879, the Philadelphia Mint increased it output for this denomination once again in 1878 with a delivery of 82,304 circulation strikes. Although the market achieved parity on its own on December 17, 1878, by the following year the unpopularity of the three-dollar gold piece had already been reaffirmed and mintages once again fell off drastically. The 1879 was produced to the extent of just 3,000 circulation strikes, an issue that was achieved mostly to satisfy demand for holiday gifts and similar purposes, as well as to prevent the creation of perceived numismatic rarities in Proof-only issues. In the end most circulation strikes of this date accumulated in the Philadelphia Mint and were eventually melted. Actual distribution was limited, so much so that fewer than 750 coins are believed extant in all grades. This is a scarce Choice Uncirculated survivor that would serve with distinction in an advanced collection of this challenging 19th century gold series.
