1870 Three-Dollar Gold Piece. MS-61 (NGC). Reflective fields support frosty, smartly impressed design elements on both sides of this lovely semi-prooflike example. The Philadelphia Mint produced just 3,500 circulation strikes of this denomination in 1870, survivors of which are rare and seldom offered in any grade. Fewer than 300 are believed extant, most of which are lightly circulated EF and AU coins obtained from the reserves of banks and bullion brokers by numismatic dealers during the early 20th century. With a mere 25 to 30 Mint State coins extant (per Bowers and Winter, 2005), the 1870 is a greater condition rarity than even such other challenging three-dollar gold issues from its era as the 1868 and 1871. Indeed, this is one of the few Uncirculated examples of this date that we have handled in recent years, a coin that should have no difficulty finding its way into a highly regarded collection.
