![]() ![]() Mintages were anemic-in many years fewer than 5,000 pieces were struck. In the following years, mintages slumped tremendously, never to return to their 1854 levels.ĭespite the lukewarm reception, the Philadelphia Mint continued to produce $3 Princesses for another 35 years. 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. The public largely rejected the coin, deeming it too similar in size to the Half Eagle. Unfortunately, these large mintages were the result of wishful thinking, not actual demand. Production began in 1854 and started strong-over 30% of all $3 Princesses ever struck were minted in 1854. 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. Even though the $3 gold piece would be approximately the same size as the Half Eagle, it would display a completely different look. This would clearly differentiate it from the Quarter Eagle. First, he decided that the coin should be large and flat. To eliminate any potential confusion, Longacre made two key decisions. If he used the exact same motif, there was a risk that the $3 gold piece would be confused with the $2.50 or $5 coins. He faced an immediate challenge with the new denomination: differentiating it from the Quarter Eagle and Half Eagle. Mint Chief Engraver James Longacre began working on the coin’s design. Once Congress approved the new $3 gold piece in early 1853, U.S. 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. 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. Given the popularity of three cent stamps and their corresponding silver coins, politicians began contemplating a $3 gold coin. The coin was extremely small and a bit difficult to handle, but seemed to enjoy decent success nonetheless. Surprisingly, over 35 million three-cent silver coins were made from 1851 to 1853. Americans seemed to embrace the concept and began using the new coin. The idea was that having a coin of the same value would make stamp buying even easier. Mint followed suit by issuing a three-cent silver coin. The price reduction helped postage stamps gain traction with the public, and usage flourished in the early and mid-1850s.Īs a further boon to the three-cent postage stamp, the U.S. To spur stamp purchases, the unit price was lowered to three cents in 1851. The price per stamp was initially five cents, but this rate was considered too high. The $3 Princess traces its roots back to 1845, when the federal government authorized the first postage stamps. Understandably, when one of our key sources brought us a diverse group of About Uncirculated $3 Princesses, we pounced at the opportunity! Few coins offer such a colorful backstory and a surprisingly affordable price point. Not only are they intriguing coins, but we consider them an outstanding value. ![]() We’re always on the lookout for high-quality $3 Princesses. This enigmatic coin ranks as one of the most illustrious rarities. Numismatists have always been drawn to the $3 “Princess” for its unusual denomination, extreme level of scarcity, and attractive design. While the coin never gained acceptance with 19th century Americans, it has become a treasured collectible. The $3 gold piece is one of the scarcest and most fascinating U.S. ![]()
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