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1855 Three Dollar Gold (1855 $3) NGC MS64. Subdued luster is seen within the devices of this near gem condition rarity 1855 Three Dollar Gold Piece. Virtually none of the surface distractions that often are found on this issue are present. Aside from the knot on the wreath, the strike is unusually strong. This outstanding three dollar coin, housed in an old NGC holder, is the second variety with large letters used for DOLLARS on the reverse.

In 1851 a law was passed that made the postage rate three cents. Two years later a new law was passed authorizing a light weight silver three cent coin and three dollar gold coin. Evidently lawmakers believed that the gold coin would be useful to buy rolls of three cent coins and sheets of stamps. Its closeness to the quarter eagle, which was widely used, made the denomination somewhat illogical, and the public proved indifferent to them.

James Longacre, realizing the problem of having a three dollar coin that resembled the quarter and half eagle, made the design for the three dollar piece completely different utilizing the Indian Princess motif. The design, similar to his Gold Dollar Large Head, shows a Caucasian Liberty facing left wearing a stylized headdress. Inscribed on the headband is LIBERTY. She is surrounded by the words UNITED STATES OF AMERICA. In using the Indian Princess motif, Longacre felt that he was designing something that was uniquely American. The reverse shows an open wreath of corn, cotton, wheat, and tobacco tied at the bottom with a bow. The denomination 3 appears at the top center of the wreath, with DOLLARS and the date below within the wreath. Longacre liked the wreath design so much that he adopted it for use on the small cent of 1856.

The first issue of the three dollar gold coin had small letters used for the denomination. The next year, and the rest of the series used large letters. The present coin is the first year of the sub-type that used large letters.

With an original mintage of 50,555, the 1855 issue is not considered to be very rare and many are available to collectors in circulated condition; however, near-gem coins of this date are condition rarities. In its population report NGC has certified 1038 coins in all grades. In MS64 there are only 21 with 2 better.