Gold Three Dollar
1854–1889 • America's Only $3 Gold Coin • James B. Longacre Design
The History of the Gold Three Dollar
The gold three dollar coin holds a genuinely unique place in American numismatic history: it is the only $3 denomination the United States has ever struck, an odd fit within a coinage system otherwise built on denominations of 1, 2½, 5, 10, and 20 dollars. Authorized by the Act of February 21, 1853, and first struck in 1854, the coin was created primarily as a matter of practical convenience — its value happened to equal the cost of a sheet of 100 three-cent postage stamps, making it a genuinely useful denomination for buying stamps in bulk during an era when postal rates were a significant part of everyday commerce.
Despite this practical original purpose, the three dollar gold piece never achieved wide circulation acceptance and was struck in comparatively small quantities throughout its 36-year run (1854–1889), making the entire series scarcer than most other U.S. gold denominations of comparable age. Struck primarily at Philadelphia, with additional issues from Dahlonega, New Orleans, and San Francisco, the series stands today as a favorite among advanced U.S. gold collectors precisely because of this genuine, built-in scarcity across nearly every date in the run.
Design and Distinguishing Features
The gold three dollar was designed by James B. Longacre, chief engraver of the U.S. Mint, and remained essentially unchanged throughout its entire production run — a rare consistency for a 19th-century U.S. coin series. The obverse depicts an Indian princess wearing a feathered headdress (a design that would later influence Longacre's Indian Head cent), while the reverse features a wreath of corn, wheat, cotton, and tobacco encircling the denomination — an agricultural motif reflecting America's economic base at the time.
One notable design variation occurred in 1854, the series' first year: the word "DOLLARS" on the reverse was initially rendered in unusually small letters, creating the "Small DOLLARS" variety that was quickly revised to a larger, more legible size later that same year — the "Large DOLLARS" variety. Both 1854 varieties are collected distinctly, with the Small DOLLARS type being notably scarcer. A separate but related distinction exists in 1873, where "Closed 3" and "Open 3" varieties (referring to how tightly the digit 3 in the date was engraved) create another popular collecting target within a single year.
Postage Stamp Origin
Created to match the price of 100 three-cent stamps — a genuinely practical origin for an unusual denomination.
Indian Princess Design
James B. Longacre's feathered-headdress Liberty portrait, later echoed in his Indian Head cent design.
Agricultural Wreath Reverse
Corn, wheat, cotton, and tobacco encircle the denomination — a reflection of 19th-century American economic life.
1854 Small vs. Large DOLLARS
A mid-year lettering size revision creates two distinctly collected first-year varieties.
1873 Closed 3 / Open 3
Two distinct date-engraving styles within a single year create a popular single-date collecting target.
The Unique 1870-S
Only one known example — struck for a mint cornerstone ceremony and among the rarest U.S. coins in existence.
Key Dates and Notable Rarities
The 1870-S three dollar gold piece stands as one of the most legendary rarities in all of American numismatics: only a single example is known to exist. According to numismatic tradition, this unique coin was struck to be placed in the cornerstone of the new San Francisco Mint building during its 1870 dedication ceremony — meaning the "official" mintage of one coin may still theoretically reside within that building's foundation, with the surviving known example (now in the collection of the American Numismatic Association after passing through several notable collections) being either a second strike or the only piece that was ever removed from circulation before the ceremony.
Beyond this singular rarity, the 1854-D — the only three dollar gold piece ever struck at the Dahlonega Mint — is a hugely significant key date with a mintage of just 1,120 coins, commanding strong premiums in any grade. The proof-only issues of 1875 and 1876, struck in extremely limited numbers exclusively for collectors rather than circulation, are similarly important rarities. The 1854 Small DOLLARS variety, the series' first-year issue with the shorter-lived lettering style, also commands a meaningful premium over its more common Large DOLLARS counterpart from later in the same year.
Value Guide
Values shown are approximate market ranges for authentic examples in collectible condition. Gold content provides a floor for common dates; key dates and better grades command significant premiums above bullion value.
| Date / Type | Mint | Mintage | Circulated Value | Value Range | Shop |
|---|---|---|---|---|---|
| 1854 Large DOLLARS | Philadelphia | 138,618 | $1,200–$2,200 | $1,200–$8,000+ | eBay → |
| 1854 Small DOLLARS | Philadelphia | Included above | $2,000–$4,000 | $2,000–$15,000+ | eBay → |
| 1854-D KEY | Dahlonega | 1,120 | $15,000–$30,000 | $15,000–$100,000+ | eBay → |
| 1873 Closed 3 (proof) | Philadelphia | Very limited | N/A | $15,000–$50,000+ | eBay → |
| Common Date (1860s–1880s) | Philadelphia | Varies | $1,000–$1,800 | $1,000–$6,000+ | eBay → |
| 1870-S KEY | San Francisco | 1 known | N/A | $1,000,000+ | eBay → |
| 1889 (final year) | Philadelphia | 2,300 | $1,800–$3,000 | $1,800–$10,000+ | eBay → |
Collecting Gold Three Dollar Coins
The gold three dollar series presents a genuine collecting challenge relative to its short production run, since low original mintages across virtually every date mean even "common" dates command meaningful premiums over gold melt value — there is no truly inexpensive entry point into this series the way there is with, for example, common-date quarter eagles or half eagles. This built-in scarcity has made the series a particular favorite of advanced collectors specifically seeking denominations where genuine rarity, rather than condition alone, drives the collecting challenge.
Authentication is especially important for this series given both its high per-coin values and its historical popularity as a counterfeiting target — PCGS or NGC certification is strongly recommended for essentially any purchase, and considered mandatory for anything approaching the series' major rarities. Given the extraordinary values involved with pieces like the 1854-D or the unique 1870-S, purchases of significant examples should go through major auction houses or established PNG-affiliated dealers with documented provenance rather than casual secondary market channels.
Where to Buy Gold Three Dollar Coins
eBay — Certified Gold Three Dollar Coins
PCGS and NGC certified examples across all dates and mints. Filter by date, mint mark, and grade for the most reliable buying experience.
Shop Certified Coins →eBay — Key Dates
Search specifically for the 1854-D, 1854 Small DOLLARS, and proof-only issues from specialist U.S. gold dealers.
Shop Key Dates →JM Bullion
Pre-1933 U.S. gold coins, including the gold three dollar denomination, are available through bullion dealers for collectors and investors alike.
Shop JM Bullion →Kitco
Live gold spot pricing alongside historic pre-1933 U.S. gold coinage — useful reference for evaluating three dollar gold coin premiums.
Shop Kitco →Money Metals Exchange
Competitive pricing on historic pre-1933 U.S. gold coinage, useful reference alongside numismatic three dollar gold coin research.
Shop Money Metals →SD Bullion
Transparent, spot-based pricing on historic pre-1933 U.S. gold — useful for tracking gold melt value context for this series.
Shop SD Bullion →Silver Gold Bull
International bullion dealer carrying historic pre-1933 U.S. gold coinage with competitive pricing and worldwide shipping options.
Shop Silver Gold Bull →FRC Coin Price Guide
Research certified values for gold three dollar coins and other U.S. gold denominations before you buy or sell.
View Price Guide →Related Coin Guides
Frequently Asked Questions
Why did the U.S. Mint make a $3 gold coin?
The three dollar gold piece was authorized in 1853 primarily as a matter of practical convenience — its value exactly matched the cost of a sheet of 100 three-cent postage stamps, making it a genuinely useful denomination for bulk stamp purchases during an era when postal rates were an everyday commercial concern. Despite this practical origin, the coin never gained wide circulation acceptance and remains the only $3 denomination the United States has ever struck.
What is the rarest gold three dollar coin?
The 1870-S is the undisputed rarity of the series — only one example is known to exist. Numismatic tradition holds that it was struck to be placed in the cornerstone of the new San Francisco Mint building during its 1870 dedication ceremony. The single known surviving example has passed through several notable collections and is now held by the American Numismatic Association, making it one of the most storied single coins in all of American numismatics.
Are gold three dollar coins a good investment?
Because the entire series was struck in relatively low quantities throughout its 36-year run, gold three dollar coins carry meaningful numismatic premiums above their gold content across essentially every date — there is no truly "common" entry point trading near melt value the way there is with some other U.S. gold denominations. This makes the series better suited to collectors focused on genuine numismatic rarity than investors seeking straightforward gold bullion exposure. As with any collectible investment, we recommend consulting a qualified financial advisor before making significant purchases.
What is the difference between the 1854 Small DOLLARS and Large DOLLARS varieties?
In the series' first year, the word "DOLLARS" on the reverse was initially engraved in unusually small letters — the "Small DOLLARS" variety. The Mint quickly revised this to larger, more legible lettering later in 1854, creating the "Large DOLLARS" variety that continued for the remainder of that year and beyond. The Small DOLLARS variety, having been produced for a shorter period, is notably scarcer and commands a meaningful premium over its Large DOLLARS counterpart from the same year.
How do I authenticate a gold three dollar coin before buying?
Given the series' consistently high values across virtually every date, PCGS or NGC certification is strongly recommended for essentially any purchase, and considered mandatory for key dates like the 1854-D or any coin claiming to be connected to the unique 1870-S rarity. Buying from dealers affiliated with the Professional Numismatists Guild (PNG) provides additional confidence, and significant purchases should ideally go through major auction houses with documented provenance given the values typically involved in this series.
What is a good starting point for collecting this series?
Common-date examples from the 1860s–1880s in circulated condition offer the most accessible entry point, typically $1,000–$1,800 — still a meaningful investment given the series' inherent scarcity, but the most attainable option available. Collectors interested in the series' design history should prioritize acquiring one example each of the 1854 Large and Small DOLLARS varieties to represent the coin's first-year design evolution, a popular and historically meaningful pairing within this genuinely unique American denomination.
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Collecting and Investing Strategies for United States Gold Coins This book covers regular-issue gold series from 1795 through 1933 and informs the reader on a number of investing strategies, including collecting by type, variety, or rarer issues.
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