1880 Three-Dollar Gold Piece. MS-65 (PCGS). Outstanding and rare Gem uncirculated quality for this enticing low mintage entry in the circulation strike three-dollar gold series. Lustrous frosty to semi-prooflike surfaces are further enhanced by gorgeous toning in vivid reddish-rose and golden-orange. Both sides are sharply struck with an appearance that is far smoother than that seen in the typical survivor of this key date issue.<p>Only 1,000 circulation strikes were produced for the 1880 three-dollar gold piece against a modest 36 Proofs delivered for the date -- no matter the format you will be hard pressed to find an attractive example in any grade. Early 20th century dealer Henry Chapman insisted that much of the circulation strike mintage remained at the Mint and was later melted. As sometimes noted in other numismatic sources, the 2005 Bowers-Winter reference on the series suggests that there are some 140 to 170 or so examples of this issue known in Mint State, as here, but only 35 to 45 circulated survivors. A century and more ago Thomas Elder was well known for finding $3 gold coins at banks and in jewelers inventories and is rumored to have "saved" several hundred pieces from destruction through melting. Many of those were dated 1879 and 1880, and many ended up with Chicago coin dealer Ben G. Green and notable collector John Beck. The present beauty may have been one of the Elder-Green-Beck pieces, though we are simply romanticizing here and have no way of knowing this coins earliest provenance. One thing is certain, however -- the present 1880 three-dollar is exceptionally attractive and worthy of inclusion in any cabinet of the denomination currently being formed.
