1871 Three Dollar Gold - 1871 $3 PCGS MS62. This lustrous, low mintage, Mint State 1871 Three Dollar Gold piece is a mixture of yellow and rose-gold. The devices are highlighted with rose-gold against a light yellow-gold field, creating an almost prooflike cameo appearance. The strike is above average with full details on the tips of Libertys feathers, the hair below the band, and the two central numerals of the date. There is no wear on the piece, and the surfaces are original and clean for the grade.

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 piece 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.

In 1851 a law was passed that authorized a three-cent piece and also made the postage rate three cents. Two years later a new law was passed authorizing a light weight silver three-cent coin and a 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.

When Longacre first came to work at the Mint in 1844, 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. In the end Peale was found out and fired in 1854. 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 dollar, the three-dollar gold piece, and the Liberty Head double eagle. 

The 1871 three-dollar gold piece had an original mintage of 1,300, making it rare in all grades. In its population report, PCGS shows 22 in MS62 condition with 22 better.