The 1854-O is among the most numismatically significant issues of this denomination as it is the only three dollar gold piece made at the New Orleans mint. It is more available than its mintage of 24,000suggests but the surviving population tends to be clustered in the EF40-AU50 range. Most of the mid-range AU examples on the market are grossly overgraded and properly graded AU58′s are quite rare. In Uncirculated, the 1854-O is truly rare and I have not seen more than four or five pieces (none better than MS62 to MS63).

This fresh-to-the-market example is one of the choicest “slider” 1854-O three dollars gold pieces that I have seen. There is just the slightest amount of friction on the high spots of the obverse but this is not from circulation, rather from what used to be called “cabinet friction” and today is more likely caused by the surfaces of a coin sliding against an acetate album protector. The color is absolutely perfect with lovely natural green-gold giving way to medium orange towards the borders. The surfaces are virtually unmarked with no abrasions of note (mint-made or otherwise) and the strike is very sharp with nearly full details at the centers and borders.

The only comparable 1854-O three dollar that I have seen in the last year was the lovely PCGS AU58 with CAC approval that brought $22,325 in Heritage’s October 2012 auction.

If you have been patiently searching for the “right” 1854-O three dollar, give this example some strong consideration!

CAC has approved seven examples in this grade with none finer.