$3 Gold Princess
Authorized by the Coinage Act of February 21, 1853, the three-dollar gold piece was, and is, our only legal tender coin ever issued of that denomination. It was designed by James B. Longacre and was minted from 1854-1889 yearly in Philadelphia and early on in Dahlonega, New Orleans and San Francisco. They weigh 5.015 grams and are composed of 90% pure gold (.14512 ounces) and 10 % copper with a reeded edge.Â
Today, many numismatists believe the $3 gold coin was made to enable the purchase of 100 3¢ postage stamps.Â
The most common dates seen in all grades are the 1878 and Civil War dates (1861-1865) are very popular.
The head on the obverse represents an Indian Princess with a circle of feathers on her head. The reverse has a wreath and the mintmark location can be found beneath the wreath on coins not made in Philadelphia between 1854-1857. The $3 gold piece, due to its overall rarity, is considered a key or stopper coin for the completion of gold type sets.
Small numbers of mirrored field proofs were issued for collectors, by the Philadelphia mint, between 1859 and 1889.
