1877 $3.00 NGC AU58PL

The 1877 is among the rarest business strikes Three Dollar gold pieces struck at the Philadelphia mint. There were just 1,400 made and there are well under 100 known in all grades. This fully prooflike piece is clearly a business strike as it has some frost in the surfaces and the rims lack the squared configuration seen on Proofs. It is very lightly worn in the fields and on the high spots with pleasing peripheral color on the obverse. A few small ticks are visible in the fields but this piece is uncommonly clean and wholesome for an issue that is seldom seen with good eye appeal. In addition to the regular population figures listed below, NGC has graded two examples in AU58 with a PL designation and five finer than this. The last NGC AU58PL to sell at auction was Heritage 2008 ANA: 1921 which brought $20,700. In my opinion, the present example is nicer and the market seems more appreciative of truly rare coins like 1877 Threes in early 2012 than it did in the Summer of 2008. This is one of two approved by CAC in this grade with none better. An important piece for the specialist.