1866 $3 (1866 Three Dollar Gold) PCGS MS63+. This rare, mint state, 1866 Three Dollar Gold coin shimmers with bright mint luster within its devices. The plus designation by PCGS indicates that the coin is a premium quality piece at the top of the grade range. The coin has an above average strike indicated by the full hair strands below Libertys headband. The reverse has full details on the wreath and the two central numerals of the date.

Of all the gold coin series, Longacres Three Dollar Gold is in many ways the least complex. There was just one major design, the Indian Princess motif, and the coins were produced continuously from 1854 to 1889. In the first year a variety was made in that all the coins have the word DOLLARS in small letters, and in 1873 there were Open and Closed 3s in the date.

James Longacre designed the coin using the Indian Princess for his main device. He had to create a motif for the Three Dollar Gold coin that would be distinctly different from the quarter and half eagle coronet designs. The design, similar to his Gold Dollar Large Head, shows a head of Liberty facing left in profile 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 design, Longacre felt that he was creating something that was uniquely American rather than an adoption from the classics. The reverse of the coin 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.

James Barton Longacre was born in Pennsylvania in 1794. When he finished his apprenticeship in Philadelphia as a bookseller and a banknote engraver, he worked on his own as an engraver of book illustrations and bank notes. His works included one on the signers of the Declaration of Independence and another on stage personalities. In 1830, Longacre planned to do a series of biographies of famous men in the military and the political arena. In 1834 the result of this series became the National Portrait Gallery of Distinguished Americans that was published in four volumes. Longacre and those who worked with him became famous because of this work. In 1844 Longacre came to work at the Mint. He was opposed by Franklin Peale, the Chief Coiner. Peale was probably responsible for some blundered dies that Longacre was criticized for making. Peal was involved in a private, illegal medal manufacturing business using Mint facilities. He was concerned that this new political appointee would interfere with his business, and he resisted Longacres appointment as Chief Engraver. Finally in 1854, Peale was fired by President Franklin Pearce. Longacre flourished in his position and was responsible for creating many new designs including the Indian Head cent, the Two-cent piece, the Shield nickel, the Liberty Head gold dollar, the Indian Princess gold dollars, the Three-dollar gold piece, and, the Liberty Head double eagle.

With a postwar mintage of only 4,000 coins, the 1866 Three Dollar Gold piece is fundamentally rare. In its population report, PCGS shows 1, the present coin, in MS63+ condition with 10 better. At NGC there are 6 in MS63 with 2 better, and these numbers do not account for crossovers and resubmissions.