1873 Three-Dollar Gold Piece. JD-3. Rarity-7. Close 3, Dished. Proof-65 (PCGS). One of the rarest and most intriguing issues in the Proof three-dollar gold series, the 1873 Close 3 JD-3 Proof is represented here by a stunning PCGS-certified Gem. Vivid bright gold surfaces are accented by a tinge of pale apricot. The characteristic strike of the JD-3 attribution is readily apparent, the obverse bulged from a sunken die with the reverse consequently dished (more on this feature below). Even so, striking detail is complete on the obverse, and virtually so on the reverse with just a touch of softness to the ribbon at the base of the wreath and through the center of the word DOLLARS and the date. Close inspection with a loupe reveals a trace of original planchet roughness in the center of the reverse associated with the soft strike in that area. There are, however, no post-production blemishes of note, and both sides exhibit an impressively smooth appearance that is fully deserving of the assigned grade. Semi-mirrored in the fields with satiny design elements, a modestly cameo finish enhances this coins visual appeal.<p>The year 1873 is one of the most fascinating, desirable, and also enigmatic in the three-dollar gold series. All issues of this year are classic rarities, their origin, striking period and status as original or restrikes being debated by numismatic scholars for decades. In his 2018 reference <em>United States Proof Coins, Volume IV: Gold, Part One</em>, John W. Dannreuther presents a conclusive argument for the status and striking order of the 1873 Proofs. In the authors opinion, the 25 Proof three-dollar gold pieces struck in 1873 were delivered from February 11 through 18, possibly just on those two days. The first examples struck were Close 3 Proofs of the variety now attributed as JD-2. This variety is presently unique, the only known example part of the National Numismatic Collection in the Smithsonian Institution. Dannreuther believes that that coin is the specimen that the Mint Cabinet acquired on February 11, 1873, as part of a 16-piece Proof set of 1873 coinage, which now resides in the National Numismatic Collection.<p>Shortly after striking that JD-2 specimen, the obverse die sunk, resulting in the creation of the JD-3 Dished Close 3 variety, of which only a handful are known. These coins were undoubtedly struck on February 11 or a few days thereafter. The Mint then halted Proof three-dollar gold production so that new dies could be made: a new obverse to replace the sunken obverse of JD-2 and JD-3, and a new reverse featuring the Open 3 date logotype. These dies, in the currently attributed JD-1 pairing, on February 18 struck the remaining Proof 1873 three-dollar pieces that are included in the Mint Directors reported mintage of 25 Proofs for the year. Thus, JD-1, JD-2, and JD-3 are all original Proof strikings of the 1873 three-dollar gold issue, the combined mintage for all three die pairings just 25 coins.<p>After the unique JD-2 Close 3, the JD-3 Dished Close 3 is the rarest variety of the Proof 1873 three-dollar gold issue. Dannreuthers estimate for survivors is on the order of just four to six specimens, one of which is part of the Harry Bass Core Collection and, as such, is not available for private ownership. Among the remaining examples market appearances are usually only at widely spaced intervals, as evidenced by the fact that the offered coin has been in the same collection since obtained by our consignor from the January 1986 Stacks sale. Here is a legendary Proof gold rarity that, once acquired by the next owner, may very well be off the market for several decades. The most aggressive bidding strategy is urged for those seeking to capitalize on this fleeting opportunity. From the Huberman Collection. Earlier ex our (Stacks) James Walter Carter & Margaret Woolfolk Carter Collections sale, January 1986, lot 132. Lot tag included.
