1889 Three Dollar Gold - 1889 $3 PCGS PF62 CAM. This rare Proof Cameo 1889 Three Dollar Gold coin has bright, satiny devices that contrast with darker, mirrored fields. Although the coin shows some light hairlines, in keeping with the grade, there are few contact marks and no nicks or other blemishes on its original surfaces. The strike of this 1889 Three Dollar Gold is full, as expected for a proof coin with a center line visible on the knot of the wreath and strong numerals in the date.

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 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 designed the three dollar gold coin using an Indian Princess motif. He had to create a motif 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 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 rather than an adoption from the classics. 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.

In 1854 the first and largest mintage was produced. Many were saved as souvenirs. Others briefly circulated and ended up being used for jewelry. Only 1854 had smaller letters in DOLLARS. The other dates all have large letters for the denomination. Mintages were limited after 1854. For many dates in the series, proofs were made; however, because they were either spent or mishandled many are extremely rare. The dates 1865, 1873, and 1875 were also proof restrikes. The 1875 and 1876 coins were proof only issues with no regular coins for those dates.

The 1873 issue had two varieties, an open 3, which was the original, and a closed 3. In 1872 dies with closed 3 were made for all denominations. Chief Coiner Snowden complained that the 3 could easily be taken for an 8. New dies were prepared with open 3s. However, an original gold proof set had a three dollar gold coin with an open 3, unlike any other denomination. There are also closed 3s know for proofs of this date. Proof restrikes are rarer than the original, especially those that have a convex obverse and a concave reverse.

With an original mintage of only 129, the Proof 1889 Three Dollar Gold gold coin is fundamentally rare. PCGS indicates that only 80 to 100 are known today in all grades. In its population report, PCGS shows 2 Proof 1889 Three Dollar Gold Coins  in PF62 CAM with 17 better.