1854 $3 Indian Princess Three Dollar PCGS AU58 (CAC)

Here is a stunning gold piece to add to your collection in the collectible grade of AU58. This, the first year of the $3 Indian Princess, had the highest mintage in the series: 138,618. In addition to its being the inaugural issue of the series, the 1854 is a single-year design subtype with small letters in ‘DOLLARS.’ It is interesting to see that the ‘IB’ and ‘ER’ in LIBERTY are much more widely spaced than the other letters; this engraving error was never corrected throughout the series that was produced up to 1889.

PCGS has graded 631 examples as AU58 with 798 finer. In CAC, there are 110 in AU58 with 98 finer. CAC gives this issue a price of $2,550.00 in AU58.

The Second Philadelphia Mint, where this beauty was struck in 1854. Photo: Wikimedia Commons.

The three-dollar gold piece, which was authorized by the Coinage Act of February 21, 1853, did not see much circulation during the years of its mintage (1854-1889). These Indian Princess gold coins were indeed found in everyday commerce in the East and Midwest until 1861, after which they were hoarded during the Civil War. It was during the 1860s that less than 10,000 pieces were struck each year. However, in 1874 and 1878, production was ramped up significantly in anticipation of broader circulation.

On the West Coast there was regular circulation throughout the entire series. That was because Westerners simply refused to use paper money, fractional currency, and stamp currency. Even though the $3 Indian Princess coins were typically not used in day-to-day business transactions, there was much collecting interest. Beginning in 1879, speculators saved $3 gold pieces, resulting in numerous mint state and high end AU examples being available today.