1878 $3 Indian Princess Three Dollar PCGS PR61CAM - 20 minted-!

This piece is a must-have for the specialist in rare type proof gold.

Some of you may remember the hit song “Precious and Few” from back in 1972. Well, even if you don’t, “Precious and Few” is the best way to describe this quite rare offering from AUCM. This 1878 proof issue has one of the lowest mintages of the entire series, with a mere 20 pieces minted. Walter Breen felt that this issue was produced only to fill out the gold proof sets for that year. Apparently, all of those sets were sold.

The elusive nature of the 1878 proof $3 pieces was known to numismatists of the 19th century, for W. Elliot Woodward called the date ‘rare’ in his catalog of the Heman Ely Collection in 1884, just six year after this small emission was produced at the Philadelphia Mint. Heritage Auctions reports, “Experts believe only 10-12 examples are extant today in all grades.” PCGS estimates that around 14-16 pieces currently exist. PCGS has graded 1 in PF 61 CAM with two finer.

The Second Philadelphia Mint, where this rarity was produced in 1878. Photo: wikipedia.