In the rich history of U.S. coinage, few coins are as rare and mysterious as the 1870-S Indian Princess Head Gold $3 coin. This coin stands out as a true numismatic treasure due to its unique status: it is the only known specimen of its kind. This rarity, combined with an intriguing historical background and an air of mystery, has captivated collectors and historians alike for over a century.
Background of the Indian Princess Head Gold $3 Series
The $3 gold piece was introduced in 1854 as part of a broader effort to streamline currency and facilitate transactions involving postage stamps, which at the time were sold in sheets of 100 for $3. Designed by Chief Engraver James B. Longacre, the coin featured an image of Lady Liberty wearing a feathered headdress, often referred to as the “Indian Princess Head.” On the reverse, the coin displayed a wreath of corn, wheat, cotton, and tobacco encircling the denomination and year of minting.
The Story Behind the 1870-S Coin
The 1870-S Indian Princess Head Gold $3 coin is truly unique, with only one known example in existence. Its origin is tied to the establishment of the San Francisco Mint in 1870. At the time, cornerstone ceremonies for new mint buildings often involved placing commemorative coins within a time capsule or ceremonial plaque. Historical records indicate that a single 1870-S $3 coin was produced for this purpose, though its exact fate was long shrouded in mystery.
Characteristics of the 1870-S $3 Gold Coin
The 1870-S Indian Princess Head Gold $3 coin shares many physical characteristics with other coins in the series. It was struck in 90% gold and 10% copper, weighing 5.015 grams with a diameter of 20.5 millimeters. However, what makes it exceptional is its “S” mintmark, signifying its production at the San Francisco Mint—a feature that sets it apart from all other $3 coins minted.
Value and Significance
Given its unique status, the 1870-S $3 coin is among the most valuable and desirable coins in the world. In 1982, the coin was sold at auction for over $687,000, setting a record at the time. Since then, its value has only appreciated, and today it is considered a priceless artifact. Numismatists regard it not just for its rarity but also for its historical context, tying it to a specific moment in the expansion of American minting operations and commerce in the western United States.
The Coin Today
The 1870-S Indian Princess Head Gold $3 coin remains in private hands, though it has occasionally appeared in public displays and auctions, captivating audiences with its historical significance and storied past. For collectors, owning this coin would represent the pinnacle of any collection. However, even for those who can only admire it from afar, the coin symbolizes a moment in American history when gold was king and each coin carried not just monetary value but a story etched in metal.
Conclusion
The 1870-S Indian Princess Head Gold $3 coin is more than just a numismatic rarity; it is a tangible piece of history that encapsulates the ambition, craftsmanship, and intrigue of 19th-century America. Its unique status, combined with the mystery surrounding its origin, makes it one of the most coveted and celebrated coins in U.S. history. Whether you are a seasoned collector or a history enthusiast, the story of this coin is a compelling reminder of the enduring allure of rare treasures hidden in plain sight.
FAQs
1. Why is the 1870-S Indian Princess Head Gold $3 coin unique?
The 1870-S $3 gold coin is unique because it is the only known example minted at the San Francisco Mint.
2. How much is the 1870-S Indian Princess Head Gold $3 coin worth?
The value of the 1870-S $3 gold coin is difficult to quantify due to its unique status, but it has previously sold for over $687,000 at auction.
3. What is the history behind the 1870-S $3 gold coin?
Minted in 1870 at the San Francisco Mint, the coin was believed to be part of a ceremonial cornerstone collection.