Historic Value and Tremendous Opportunity in $3 Princess Coins

The $3 gold piece is one of our country’s scarcest and most fascinating gold coins. While the coin never caught on with the general public, it has been a coveted collectible since the 19th century. Numismatists have always been drawn to the $3 ‘‘princess’’ due to its unusual denomination, extreme rarity, and attractive design. 
 
However, we find the $3 gold coin especially intriguing at today’s market levels—uncirculated coins are currently 40-60% off their peak prices. This historic, beautiful and enigmatic gold coin represents tremendous value and opportunity.
 
We have been able to put together a number of coins in different grades and different dates. And, we are able to offer them to you (delivered) for less than the current price guides suggest. Call 800-831-0007 to get yours today.

History of the $3 Princess
The $3 Princess traces its roots back to 1845, when the federal government authorized the first postage stamps. The price per stamp was initially five cents, but this rate was considered too high. To spur stamp purchases, the unit price was lowered to three cents in 1851. The U.S. Mint followed suit by issuing a three-cent silver coin. The idea was that having a coin of the same value would make stamp buying even easier. Over 35 million three-cent silver coins were made from 1851 to 1853. The coin was extremely small and a bit difficult to handle, but seemed to enjoy decent success nonetheless.

Given the popularity of three cent stamps and their corresponding silver coins, politicians began contemplating a $3 gold coin. Not only would the coin help facilitate buying sheets of stamps, but bankers could also use them to trade for rolls of three-cent coins. Furthermore, there was a temporary surplus of gold flowing in from the California Gold Rush—and the Mint was looking for new ways to convert this gold into coinage.

Once Congress approved the new $3 gold piece in early 1853, U.S. Mint Chief Engraver James Longacre began working on the coin’s design. He faced an immediate challenge with the new denomination: differentiating it from the Quarter Eagle and Half Eagle. Even though the $3 gold piece would be approximately the same size as the Half Eagle, it would display a completely different look. His design for the $3 gold piece showed an Indian princess on the obverse and a wreath of corn, wheat, cotton, and tobacco on the reverse.

Production began in 1854 and started strong—over 30% of all $3 Princesses ever struck were minted in 1854. Unfortunately, these large mintages were the result of wishful thinking, not actual demand. The public largely rejected the coin, deeming it too similar in size to the Half Eagle. It has also been questioned whether the average American typically bought sheets of stamps—after all $3 was still a sizeable amount of money at the time. In the following years, mintages slumped tremendously, never to return to their 1854 levels.

Despite the lukewarm reception, the Philadelphia Mint continued to produce $3 Princesses for another 35 years. Mintages were anemic—in many years fewer than 5,000 pieces were struck. Dies for the $3 Princess were sent to the branch mints repeatedly in the 1850s and 1860s, but they refused to strike the coins. Demand was so low that in 1875 and 1876, only a small number of proofs were made for collectors. No coins were made for circulation and thousands were melted in the 1890's.

Finally, in 1889, the $3 Princess was quietly discontinued with a paltry mintage of 2,300 pieces that year.

But the $3 Princess had a unique appeal despite the fact that it had lost its function... While the general public had little use for the coin, early coin dealers were already touting them as collectibles. 

When it became officially obsolete in 1889, the coin’s value as a collectible began to climb. In the 1920s, for example, most 19th century gold coins were only worth face value, but $3 Princesses were already trading for sizeable premiums. U.S. gold coin collecting was still in its infancy, but the $3 Princess was one of the first items to be actively pursued by numismatists.

It Doesn’t Get Much Rarer Than This…
Simply put, the $3 Princess is the rarest U.S. gold coin made for circulation. Most U.S. gold coin series have common and scarce issues, but every $3 date is considered rare. Over 36 years of production, only 538,174 pieces were struck. To put this in perspective, 538,174 coins might have represented a month’s worth of $5 gold coin production during that same era. Furthermore, the mintages only tell half the story, as a substantial percentage of $3 Princesses were later melted.

The lion’s share of $3 Princesses shows mild circulation and/or signs of jewelry use. Grades of Very Fine and Extremely Fine are most frequently encountered. Problem-free About Uncirculated $3 Princesses are very scarce and represent the minority of all survivors.

Today's Spotlight Offer
The group of $3 Princesses we have today is unusual in two respects. First, each coin we offer here has been independently inspected and certified by the uncompromising standards of Numismatic Guaranty Company (NGC) or Professional Coin Grading Service (PCGS) to be in About Uncirculated (AU50-58) or Mint State (MS61 through MS62) condition. Each coin comes in a protective slab. This means each coin is problem-free and shows just minor signs of wear. In fact, the specimens still show some traces of original mint luster.

Secondly, and perhaps most importantly, there is an incredible assortment of dates. When we see $3 gold pieces on the market, they are almost always just one or two different dates. This group has a remarkable variety, which allows us to offer you several splendid options:

• 1856-S $3 Princess in AU50 for $3,499. The “S” mintmark designates that it was minted in San Francisco. Despite comparatively high mintage, 1856-S was extensively circulated and is, today, considered a real find even in problem-free AU grades, especially for this mintmark. Only 60 are known to exist in AU50.
• 1856-S $3 Princess in AU55 for $6,299. The “S” mintmark designates that it was minted in San Francisco. Despite comparatively high mintage, 1856-S was extensively circulated and is, today, considered a real find even in problem-free AU grades, especially for this mintmark. Only 45 are known to exist in AU55!
• 1860 $3 Princess in MS61 for $8,299. Out of 7,000 minted, only 1,000 remain, with 140 estimated to survive above MS60. This date is scarce in all grades and is very rare in choice uncirculated condition.
• 1861 $3 Princess in AU55 for $9,699. Civil War issue. Out of 5,850 minted, only 650 remain across all grades. Like all the three dollar gold pieces of the 1860's, the 1861 $ Princess is very scarce in all grades and truly rare in mint state. AU grades may be the only affordable way to own this coin in decent condition.
• 1869 $3 Princess in MS61 for $8,599. Out of only 2,500 minted, just 40 remain in Mint State condition. PCGS rates this specimen 8.7/10 in terms of rarity. This is one of the most underrated dates of the 1860's, particularly in choice condition.
• 1882 $3 Princess in MS62 for $9,899. Out of only 1,500 minted, just 225 remain graded Mint State or better. The 1882 is seen more often in choice condition than one might normally expect from the very low mintage, but counterfeits are common, so encountering the real deal is a treat!
• 1886 $3 Princess in AU55 for $5,399. Only 1,000 ever minted! The business strikes of this date are the most underrated of the 1880's.
• 1888 $3 Princess in AU58 for $4,399. The 1888 is reasonably obtainable in any condition including gem uncirculated, making this specimen one of the more affordable options in today's selection. However, all $3 Princess coins, especially the later dates, are rare in terms of their mintage when compared to other U.S. gold coinage.
• 1889 $3 Princess in MS64 for $8,299. 1889 was the final year of issue. Out of only 1,500 total minted, just 400 exist graded Mint State or better! One might expect that more would have been saved as mementos, but the 1889 is certainly more difficult to obtain in choice condition than the 1879, 1880, or 1882. It is also much more scarce in any condition than either the 1887 or 1888. 

This rare and unique specimen is available for especially discerning collectors!

 

1889 $3 Princess in PR62+ for $17,999. This is a proof coin... 1 out of only 129 total minted! 1889 $3 Princess Proofs are rare and have actually appeared at auction less often than those of some other dates with even lower proof mintages, making this specimen highly coveted among collectors. Act quickly!

Call 800-831-0007 or email today to add any of these $3 Princess coins to your portfolio. 

 

*Prices subject to change based on market fluctuation and product availability. Prices reflected are for cash, check, or bank wire. Free shipping, handling, and insurance is included. Offer expires Friday, March 7, 2025 or while supplies last.