$3 Indian Princess Gold Coins: Distinctive, Low-Mintage Favorites for Collectors

Among the more distinctive issues in United States coinage, the $3 Indian Princess gold coin stands apart. Its denomination was unusual, and its design has a story of its own. For collectors, the limited production of these pre-1933 gold coins adds another important point of interest.

This overview explains points readers were invited to consider before they buy or sell these rare coins.

History of $3 Indian Princess Gold Coins

The development of the $3 Indian Princess gold coin took an unexpected path. In 1832, a New York congressman proposed smaller coins alongside the existing $10 Eagle gold coins, hoping to encourage circulation of U.S. coinage. Congress later approved the Coinage Act of 1834, yet that law did not authorize a $3 coin.

That could have marked the end of the $3 coin, yet an apparently unrelated change brought the concept back. The cost of postage stamps fell to 3 cents each in 1851. To simplify purchasing those stamps, lawmakers authorized the 3-cent pieces.

Legislation passed in 1853 authorized a 3 dollar gold coin. The apparent purpose of this new denomination was to make it easier to purchase sheets of 3-cent stamps.

Many numismatic historians have repeated the account above, although it is not universally accepted among numismatists. Another explanation holds that the coin existed simply because California’s Gold Rush had produced an abundant supply of gold.

The Indian Princess Design

Mint engraver James B. Longacre received the assignment to prepare a design for the $3 gold coin. His initial instructions did not specify a particular design direction. Earlier American coins often used figures inspired by Roman or Greek styles, but Longacre believed this coin called for an American image instead.

Obverse

For the obverse, Longacre used Lady Liberty and based her image on a statue named “Crouching Venus.” He placed on Liberty a headdress or bonnet popularly associated at the time with Native American women. The words around the Indian Princess’s head were “United States of America.”

Reverse

Longacre’s reverse was quite similar to reverses on earlier coins he designed. It used an agricultural wreath, while the denomination “3 DOLLARS” and date appeared in the open space between the wreath’s two arms.

Specifications for $3 Indian Princess Coins

When evaluating gold coins for a possible purchase or sale, it is important to confirm that the piece matches that coin type’s established specifications. A mismatch can indicate a counterfeit. That same practical check applies to the $3 Indian Princess gold coin as well.

Carefully measure, weigh, and inspect the coin so its identity can be established.

Years: 1854-1889
Denomination: $3
Diameter: 20.5 mm
Weight: 5.015 grams
Gold content: 0.1451 troy ounces
Edge: Reeded
Purity: 90% fine gold (10% copper)
Mints: Philadelphia, New Orleans, Dahlonega, San Francisco
Total Mintage: 539,792

Important Dates and VarietiesAt publication,

The $3 Indian Princess gold coin series is recognized for low overall mintages. It also includes several varieties that have become widely known. The following are among the more valuable issues collectors may watch for while building a collection or assisting another collector.

Large and Small “DOLLARS” Lettering

Across the $3 Indian Princess gold coin series, the most readily noticed variation is the two letter sizes used for “DOLLARS.” Small letters appeared in 1854, the first production year. Coins produced afterward, from 1855 through 1889, used larger letters.

Scarce Date Coins

Like most coin series, the $3 Indian Princess gold coin includes dates that are scarcer than others. When condition supports it, those scarcer issues generally carry greater value.

The following are among the scarcest coins in this series:

• 1870-S – This issue is one of the two rarest. Officially, only one was struck for the San Francisco Mint cornerstone. An 1870-S later surfaced, but its origin remains unknown: it may represent an unofficial second striking, or it may have been taken from or retrieved at the cornerstone.

• 1873 Closed 3 – Within this series, the Closed 3 and Open 3 gold coins differ only slightly. On the Closed 3, the left sides of the numeral have less separation than on the open 3. Philadelphia minted only 100 examples.

• Proof coins before 1859 – Production normally totaled about 20 coins, although years from 1859 onward had higher mintages.

• San Francisco mintmark – This mintmark is scarce because $3 gold coins were produced at San Francisco only in 1855, 1856, 1857, and 1860.

Years With Lower Mintages

• 1881: 500
• 1885: 800
• 1883: 900
• 1880: 1,000
• 1854-D: 1,120 (the only $3 gold coin struck at the Dahlonega mint)
• 1865: 1,140
• 1871: 1,300
• 1877: 1,468
• 1858: 2,133

Points to Remember When Buying or Selling These Coins

When this article was originally published, readers considering a purchase or sell a rare coin were advised to verify that the coin matched its proper characteristics. The article suggested close examination and comparison with images in respected coin books or dealer sites. Counterfeits could appear, particularly when attempting to buy a rare example of this type.

The original article noted that, despite the scarcity of $3 Indian Princess gold coins, demand was comparatively limited. As a result, their value might not have matched what their rarity alone would suggest.

For a coin whose authenticity was uncertain, or for one of the rare pieces discussed above, the original article suggested submission to an independent grading service such as NGC or PCGS.

The article explained that a PCGS- or NGC-verified, graded coin would establish authenticity and identify its precise condition.

Finding an Expert in Rare U.S. Coins

The article stated that mastering every detail of rare coins such as the $3 Indian Princess gold coin was best left to specialists. At publication, the team at Atlanta Gold & Coin Buyers was described as able to assist readers through a sale or purchase toward their intended outcome.

At the time of original publication, Atlanta Gold & Coin reported having many outstanding gold coins in our inventory, then available for purchase. The original article also explained that questions could be answered. Readers were invited to Contact us at that time to learn how Atlanta Gold & Coin could assist them.