1861 $3 Indian Princess Three Dollar NGC AU58

From late December 1861 until December 1878, the Philadelphia Mint did not distribute gold coins at their face value. Following this period, $3 gold pieces ceased to circulate in the East and Midwest, with only limited quantities held by bullion dealers, banks, or exchange offices. In the West, where the denomination did see some use, the coins in circulation were predominantly older ones, and even then, they were rarely encountered. In 1861, the San Francisco and New Orleans mints each received two dies for producing $3 gold pieces, though no coins were ultimately struck at either facility.

 

That year, a mere 5,959 three-dollar gold coins were disbursed. The coins seem to have had a brief period of circulation, as most surviving examples are graded XF-AU. This aligns with the widespread hoarding that began shortly after their release. This particular near-Mint specimen features vibrant yellow-gold surfaces with a hint of reflectivity in the fields. Barely noticeable friction on the highest points precludes a full Uncirculated designation. The bowknot remains strikingly intact, and faint marks are unobtrusive.