1856-S Three Dollar Gold (1856-S $3) NGC MS61. This buttery 1856-S Three Dollar Gold piece shows bright mint luster within the devices. There are a couple of light wispy marks on the obverse, more so on the reverse which also shows some small scratches in the center. Except for Libertys lower hair, the strike is strong on both sides. Clash marks are seen, especially on the reverse; however, these marks do not detract from the coins grade or value.

Designed by James Longacre, the coin uses an Indian Head motif. Longacre wanted to use a design that was different from the quarter eagle and the half eagle so as to avoid confusion with these denominations. He chose the Indian Princess motif which shows a Caucasian Liberty in profile facing left. She wears a feathered headdress or crown on her head. The feathers are close together in a beaded headband inscribed LIBERTY. They curl at the top with the curl facing out. Her hair falls to her shoulder. UNITED STATES OF AMERICA encircles her, and dentils are around the periphery on both sides. On the reverse the denomination written as 3 is in line with DOLLARS and the date below. They are encircled by an open wreath of corn, cotton, tobacco, and wheat. The mintmark is as the bottom of the coin under the bow.

A law setting the postage rate at three cents and authorizing a three cent piece was passed in 1851. In 1853, a new law authorized a three dollar gold coin. Lawmakers felt that the gold coin would be used to buy rolls of three cent coins and sheets of stamps. Its closeness to the widely used quarter eagle made the denomination somewhat illogical, and the public proved indifferent to them.

With an original mintage of 34,500, the 1856-S three dollar gold piece is rare by todays standards. NGC in its population report shows 488 in all grades. However in mint state they are very scarce. In MS61 only 9 have been certified with 12 better.