Lot 174
174
A TRIO OF IMPORTANT 1875 GOLD RARITIES EACH WITH A MINTAGE OF JUST 20 PIECES THREE-DOLLARS, HALF-EAGLE AND EAGLE
Three-Dollars, 1875, designed by James B. Longacre (Breen, Encyclopedia, 6386), a few tiny, well-hidden marks, choice Proof from a Proof-only issue, bright mirror surfaces and frosted devices, just twenty specimens coined without attendant business strikes, original (restrikes were struck later in 1875 to supplement collector needs) one of the rarest dates in the Three-Dollar gold series, struck Febraury 13, 1875, for inclusion in Proof sets of that year, perhaps just a dozen or so of the original mintage still exist

Details
Three-Dollars, 1875, designed by James B. Longacre (Breen, Encyclopedia, 6386), a few tiny, well-hidden marks, choice Proof from a Proof-only issue, bright mirror surfaces and frosted devices, just twenty specimens coined without attendant business strikes, original (restrikes were struck later in 1875 to supplement collector needs) one of the rarest dates in the Three-Dollar gold series, struck Febraury 13, 1875, for inclusion in Proof sets of that year, perhaps just a dozen or so of the original mintage still exist

A roster of specimens known to Walter Breen included:
1. Mint; Smithsonian Institution.
2. Mint; Brock; Morgan; American Numismatic Society.
3. Byron Reed Collection.
4. Ely; Garrett.
5. Melish; Kagin.
6. MacKenzie; others; Carlson, impaired.
7. Pierce; Jay; Ullmer.
8. Smith; Baldenhofer.

Half-Eagle, 1875, designed by Christian Gobrecht and modified by James B. Longacre (Breen, Encyclopedia, 6691), very similar appearance to the Three-Dollar piece in this lot, a few stray "haymarks", Proof with pleasing cameo contrast, one of twenty Proofs coined, with 200 business strikes also minted, a great rarity in the Half-Eagle series, perhaps as few as ten specimens exist

A roster for this rarity includes:
1. Mint; Smithsonian Institution.
2. Mint; Brock; Morgan; American Numismatic Society.
3. Ely; Garrett.
4. Smith; Dunham.
5. Newcomer; Boyd; "World's Greatest Collection," possibly ex: Parmalee; Woodin.
6. Clapp; Eliasberg.
7. Menjou; this and following possibly the same as numbers 4 and 5.
8. Carter, Sr.; Carter, Jr.
9. Wolfson.
10. Byron Reed (not noted by Breen)

Eagle, 1875, designed by Christian Gobrecht and modified by James B. Longacre (Breen, Encyclopedia, 6980), lightly toned as is the Half-Eagle, choice Proof, good cameo contrast, twenty Proofs minted, along with a mere 100 business strikes, one of just eight to ten specimens thought to remain from the original mintage

A roster of known specimens includes:
1. Mint; Smithsonian Institution.
2. Mint; Brock; Morgan; American Numismatic Society.
3. Ely; Garret.
4. Smith; Dunham.
5. Boyd; "World's Greatest Collection;" others (possibly ex-Parmalee); Woodin.
6. Clapp; Eliasberg.
7. Carter, Sr.; Carter, Jr.; others (possibly the same as numbers 4 or 5)
8. Byron Reed (not listed by Breen)

Lot Essay

In general, most dates of the Liberty or Coronet gold coins prior to 1878 tend to be of moderate to extreme rarity. Specie payments were still suspended, with gold coins frequently melted or hoarded by the general public. Paper currency, commonly called "greenbacks," circulated freely, but their face value was often discounted, especially when compared to the buying power of gold; one-hundred Dollars in greenbacks just didn't go as far as a similar amount of "cold" cash. Consequently, many great rarities exist in the gold denominations of the 1860's and 1870's, chief among these being the 1875 issues offered here. (3 pieces; one lot)