VERY RARE AND NUMIMATICALY SIGNIFICANT PROOF 1854 THREE DOLLAR GRADED PR62 BY PCGS

A total of 20 Proofs were made, which is significantly more than for the 1855, 1856, and 1857 three dollar. We can assume that this figure is high (if 20 pieces can be considered to be “high”) due to the 1854 representing the very first year of issue for this denomination. Today, an estimated 10 or so are known. The sole Gem, graded PR65CAM by PCGS, shattered the all-time record price for this issue when it sold for $312,000 as Heritage 9/2022: 11018. The second best, graded PCGS/CAC PR64+ CAM, brought $164,500 as Heritage 11/2013: 3837.

This coin has very good overall eye appeal for the grade. It is bright and very reflective with some pale green-gold color on either side. The obverse shows some fairly pronounced lines in the left field, but this is the result of poor handling as opposed to an old cleaning. Of the ten or so known, there are just three 1854 Threes which grade PR63 or higher, and the splendid Bender Collection example, sold in the 2/23 Heritage FUN auction, was graded PR63 CAM by PCGS, making it the single lowest coin in this amazing set.

The 1854 is a distinct one-year type as it is the sole date of this denomination to use small-sized lettering on the word DOLLARS. All other issues from 1855 until the demise of this issue in 1889 have larger reverse lettering.

For non-cameo Proof 1854 Threes, the current PCGS population is one each in PR55 and PR58, three in PR62, and a single coin finer; a PR64 that has not sold since 2002. For Proofs with a cameo designation, the current population at PCGS is two in PR63 and one each in PR64, PR64+, and PR65. This is a total of 11 coins.

This is just the third Proof of this date that I have ever offered for sale.

PCGS Price Guide for the 1854 $3 in PR62 is $75,000, while CDN Greysheet bid is $68,000.

Compared to this date, the Proof-only 1875 is common.

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