1878 Three-Dollar Gold Coin : A Collector’s Guide
By Charles Morgan and Hubert Walker for CoinWeek Notes …..
The United States Mint in Philadelphia struck 82,304 Three-Dollar Gold coins in 1878. This output is the second-highest mintage of the type and trails only the Philadelphia Mint’s inaugural emission of 1854. Comparing this mintage to other gold coins struck at Philadelphia, the Three-Dollar Gold coin still lags behind.
Philadelphia struck 286,240 quarter eagles in 1878, along with 131,720 half eagles and 543,625 double eagles. Only the eagle, with 73,780 coins struck, trailed the Three-Dollar Gold piece this year.
Why the larger mintage for such an unpopular denomination? Numismatists Doug Winter and Q. David Bowers posit in United States $3 Gold Pieces, 1854-1889 that the increased mintage was carried out as the Treasury Department geared up to redeem paper bills on par with gold coins.
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Market Data and Noteworthy Specimens
Abe Kosoff remembered buying a “roll” of 1878 $3 gold coins in 1930, at the height of the Great Depression, for $4.85 each.
On the back cover of the February 1951 issue of The Numismatist, coin dealer James Kelly advertised two uncirculated 1878 Three-Dollar Gold coins for sale. One described as “Brilliant, uncirculated” was listed for $22.50. The other one, described as “Uncirculated, sharp,” was listed for $20.00.
The 1878 Three-Dollar Gold coin is one of the most frequently encountered coins of the type and is a popular type coin as Mint State survivors are plentiful. In grades above MS66, the coin becomes unquestionably scarce.
Top Population: PCGS MS67+ (5, 3/2025). NGC MS67 (15, 3/2025). CAC MS67 (2:0 stickered:graded, 3/2025).
- PCGS MS67+ #39756614: Heritage Auctions, January 21, 2021, Lot 4079 – $51,600.
- PCGS MS67+ #34000642: Heritage Auctions, December 7, 2017, Lot 3229 – $60,000.
- PCGS MS67+ #33926948: Heritage Auctions, August 10, 2016, Lot 4274 – $70,500
- PCGS MS67 CAC: Heritage Auctions, February 2009, Lot 2641; “D. Brent Pogue Collection,” Stack’s Bowers, March 20, 2020, Lot 7330 – $55,200; Stack’s Bowers, August 6, 2020, Lot 1255 – $55,200. PQ eye appeal.
- NGC MS67 #3719416-001: Heritage Auctions, October 17, 2019, Lot 3221 – $28,800.
- NGC MS67* #1869255-005: Heritage Auctions, November 3, 2005, Lot 2394 – $54,625.
- PCGS MS66+ CAC #16274907: Stack’s Bowers/ Sotheby’s, May 15, 2015, Lot 58 – $28,200.
- PCGS MS66+ CAC #25011438: Stack’s Bowers, August 14, 2013, Lot 4465 – $21,150.
- PCGS MS66 #48814800: Stack’s Bowers, March 26, 2024, Lot 4250 – View.
- PCGS MS66 CMQ #6583787: Stack’s Bowers, March 26, 2024, Lot 4251 – View.
- PCGS MS66 CAC #46092977: Michael Brownlee to Harry W. Bass, Jr., October 30, 1972; “The Harry W. Bass Jr. Core Collection, Part IV”, Heritage Auctions, August 10, 2023, Lot 9014 – $27,600.
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1878 Three-Dollar Gold Coin Specifications
| Country: | United States of America |
| Year of Issue: | 1878 |
| Denomination: | $3 (USD) |
| Mintmark: | None (Philadelphia) |
| Mintage: | 82,304 |
| Alloy: | .900 gold, .100 copper |
| Weight: | 5.015 g |
| Diameter: | 20.50 mm |
| Edge: | Reeded |
| OBV Designer: | James Barton Longacre |
| REV Designer: | James Barton Longacre |
| Quality: | Business Strike |
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The post 1878 Three-Dollar Gold Coin : A Collector’s Guide appeared first on CoinWeek: Rare Coin, Currency, and Bullion News for Collectors.
1. **Image Caption:** A crisp example of the 1878 Three-Dollar Gold coin. The details are remarkably well preserved.
2. **Mintage Discussion:** I find it curious that the mintage of this denomination increased despite its unpopularity. The Treasury’s rationale for this is intriguing.
3. **Market Data:** The price difference between Kosoff’s purchase during the Depression and Kelly’s listing in 1951 highlights the fluctuating value of numismatic items.
4. **Top Population:** The listed auction results demonstrate the significant price premiums attached to high-grade, certified examples of this coin.
5. **Specifications Table:** This table provides a concise and helpful summary of the coin’s key characteristics. A valuable reference for any collector.