In an interesting development, a $3 Rare Gold Coin is all slated to fetch a whopping $4 million when it is put up for auction this month (June). Surprisingly, this 1870-S $3 gold piece, happens to be one of the only two such coins ever minted in American history and is naturally being considered as one of the rarest finds. More surprisingly, the coin was an accidental discovery. Reportedly, it was found stuck to the pages inside a souvenir book. It was discovered by a European tourist at a bookshop in San Francisco in 1997. However, he too wasn’t exactly aware of the rarity of the coin he had stumbled upon. As a consequence, he sat on this huge treasure for about 15 years before deciding to bring it to auction. Finally, the auction is being held at the Four Seasons Auction Gallery, on the outskirts of Atlanta, Georgia.
The coin was minted at the San Francisco Mint on the issuance of special orders by the mint superintendent and was supposed to adorn the cornerstone of a famous building in the city. The casting used for the coin is special and there is a special “S” motif that has been hand carved on the coin surface. It is this motif that makes the coin so very rare. It was only when the cornerstone coin was removed on account of damage that an identical second coin was cast in the similar fashion. The duplicate coin is now open for public display at the American Numismatic Association Museum, in Colorado Springs. In the year 2007 itself, the value of this rare piece was pegged at $4 million! Naturally, it is all set to fetch a much higher sum today in June 2012!
Appraisers however aren’t completely sanguine about the origin of this rare coin that is to be put up for auction this June. It may be the original coin that was dislodged from the cornerstone or might also be a third edition that was cast as a replacement but never publicly reported. However, despite the huge sum this coin is supposed to rake in, it is still not the most valuable of rare gold coins in American history. This honor goes to the 1933 minted American Double Eagle, which fetched $7.5 million at an auction held in 2002! Some other classic variants have been discussed below.
The $2.5 Liberty Gold Coin
These coins are strongly reminiscent of the salient events of American history through the 19th century and were utilized primarily as circulating coinage. This is why the mintage was not extensive and so, they are rare and scarce. They were casted across five prominent American mints including Dahlonega, Southern Branch and Charlotte. Minting ceased in 1861 as these mints went under the governance of the Southern Confederacy. After 1879, very few coronet coins were circulated. Most of these were retained in the National Treasury or banks and were subsequently melted during the 1933 gold recall.
The $10 Liberty Gold
These coins were first minted in 1838. The design on the coin derives inspiration from a portrait of Venus that was recreated by celebrated artiste Christian Gobrecht. Naturally, this coin is also preferred for its aesthetics along with its rarity. It portrays the bust of Liberty, crafted to perfection, with the hair tied back in a knot and curls hanging along the neck. The ones that belong to rarer mintages were cased in the New Orleans Mint through 1841 to 1860.
Purcasing rare gold coins has remained as a visible trend for many years now. Provided you are able to assess your choices, the returns could be truly handsome for rare gold coins.