1867 3CS Three Cent Silver Piece NGC PR64CAM (CAC)

This is an affordable proof type coin with a super low mintage. Out of its mintage of 625, there have been 39 graded CAM by NGC. Of those, there are 7 in PR64CAM, with 26 finer. In CAC, there are 15 in PR64CAM, with 27 finer.

Photo: wikipedia.

Of his coin, the designer-engraver James B. Longacre (above) wrote,

On so small a coin it is impossible that the device can be at once conspicuous and striking unless it is simple—complexity would defeat the object. For the obverse I have therefore chosen a star (one of the heraldic elements of the National crest) bearing on its centre the shield of the Union, surrounded by the legal inscription and date. For the reverse I have devised an ornamental letter C embracing in its centre the Roman numeral III, the whole encircled by the thirteen stars.

The extensive importation of gold from the California Gold Rush resulted in silver being traded for every increasing amounts of gold. Therefore U.S. silver coins, which realized higher prices overseas, were exported and melted for their bullion value. This activity, combined with the lowering of postage rates to three cents, inspired Congress in 1851 to authorize a 3-cent coin crafted of .750 fine silver, and not the traditional .900. Thus the three-cent silver piece was the first silver coin to contain metal valued much less than its face value, as well as the first silver coin not to be legal tender for an unlimited amount. This coin, also called a 'trime,' saw heavy circulation until Congress acted again in 1853, making other silver coins lighter, keeping them in circulation. At that time, Congress also lightened the trime, and increased its fineness to .900 silver.