By Greg Reynolds for CoinLink

An 1854-D Three Dollar Gold Coin is ‘in the news’ as the firm of Ira and Larry Goldberg will be offering one at auction in May, just prior to the Long Beach (CA) Coin, Stamp and Collectible Expo. This 1854-D, which I have not seen, has been graded “AU-55” by the Numismatic Guaranty Corp. (NGC).

The 1854-D is a famous rarity. Three Dollar Gold coins were minted from 1854 to 1889. The rarest date in the series is the unique 1870-S. The only one is in the “Core Collection” of the late Harry Bass, and is on display at the ANA museum in Colorado. I was fortunate to be able to view it when it was part of a short-lived exhibit at the ANS in New York in the late 1980s. It was auctioned for $687,500 at the Eliasberg gold sale in 1982.

Bass had two 1854-D Threes, one was graded “AU-55” by the Professional Coin Grading Service (PCGS). It was auctioned for $25,300 in October 1999.

The other Bass 1854-D remains in the “Core Collection,” and has an amazing strike for this date. The dentils (teeth at the borders) on 1854-D Threes tend to be very mushy in some areas, and the rims are often not well pronounced. The Bass 1854-D has incredible detail and definition for the date. Those who have seen it suggest that it might be the finest known 1854-D? It is understood, though, that striking characteristics are only one factor that is incorporated into a coin’s grade. I have not examined it. It is illustrated at the website of the Harry Bass Foundation.

The 1854-D Three is widely believed to be the second rarest business strike in the series. It is, by a wide margin, the second most expensive business strike, well ahead of the others, in terms of market prices.

Two Three Dollar Gold dates are proof-only issues, as no business strikes were made, 1875 and 1876. They are each rarer than the 1854-D. There are business strikes, in addition to the 1870-S, that are rarer than the 1854-D Three Dollar Gold piece.

I believe that 1873 Threes are rarer than 1854-D Threes? I hypothesize that there are seventy to ninety business strikes, and maybe twenty to twenty-five Proof 1873s, including both ‘Close 3′ and ‘Open 3′ varieties. My estimated total range for the date would thus be 90 to 115. It is almost certain that there are more than 115 1854-D Three Dollar Gold pieces. (more…)

By Greg Reynolds for CoinLink

An 1802 half dime has ‘made the news.’ In a special Spring Internet-Only auction conducted by David Lawrence Rare Coins (DLRC), one has sold for $135,125! It is only the second time, as far as I know, that an 1802 half dime has realized a six-figure price. This 1802 is graded Very Fine-30 by the Professional Coin Grading Service. The auction closed on April 3, and the buyer is from New England. So, I will call this coin the ‘New England’ 1802 half dime.

This collector-buyer has also acquired other Bust silver coins. With some exceptions, U.S. silver coins dating from 1796 to the late 1830s are Bust Silver Coins. Initially, a Draped Bust, and, later, a Capped Bust portrait of Miss Liberty appeared on the obverse (front).

From the 1860s to around 1915, collectors were very enthusiastic about 1802 half dimes, particularly in the late 19th century. Those who could not afford to buy one often talked about them. People liked to hear and read about them. Every time an 1802 half dime was offered at auction, a large percentage of the bidders and observers would clamor to see it. In most decades since, very early silver and gold coins have not been nearly as popular as other series. In the 1980s and 1990s, there was dramatically more interest in very choice and gem quality uncirculated, 19th century coins.

Since the onset of the 21st century, particularly from 2004 to the present, bust silver coins have become more popular than they were during most of the 20th century. Demand for circulated rarities in Bust silver series, in particular, has markedly increased.

An uncirculated 1802 half dime does not exist. Two have been graded “AU-55” by the PCGS and three have been graded “AU-50” by the Numismatic Guaranty Corp. (NGC). Some of these, however, were called Very Fine or Extremely Fine, in other time periods. There is no way that any 1802 half dime that I have seen, or been reliably informed about, could reasonably be graded uncirculated. (more…)