The 1873 $3 issues, both circulation strikes and Proofs, are among the rarest of the series in both the Close 3 and Open 3 styles. It is thought that just 600 to 900 circulation strikes of the date were produced of the Close 3 style along with a handful of Proofs. The Open 3 style was struck only in Proof format with no attendant circulation strikes. Most of the 1873 $3s in today’s marketplace are circulation-strike Close 3 pieces, and most of them are found in circulated grades of EF and sometimes AU.

Proofs:

The year 1873 is one of the most fascinating, desirable, and also enigmatic in the three-dollar gold series. All issues of this year are classic rarities, their origin, striking period and status as original or restrikes being debated by numismatic scholars for decades. In his 2018 reference United States Proof Coins, Volume IV: Gold, Part One, John W. Dannreuther presents a conclusive argument for the status and striking order of the 1873 Proofs. In the author's opinion, the 25 Proof three-dollar gold pieces struck in 1873 were delivered from February 11 through 18, possibly just on those two days. The first examples struck were Close 3 Proofs of the variety now attributed as JD-2. This variety is presently unique, the only known example part of the National Numismatic Collection in the Smithsonian Institution. Dannreuther believes that that coin is the specimen that the Mint Cabinet acquired on February 11, 1873, as part of a 16-piece Proof set of 1873 coinage, which now resides in the National Numismatic Collection.

Shortly after striking that JD-2 specimen, the obverse die sunk, resulting in the creation of the JD-3 Dished Close 3 variety, of which only a handful are known. These coins were undoubtedly struck on February 11 or a few days thereafter. The Mint then halted Proof three-dollar gold production so that new dies could be made: a new obverse to replace the sunken obverse of JD-2 and JD-3, and a new reverse featuring the Open 3 date logotype. These dies, in the currently attributed JD-1 pairing, on February 18 struck the remaining Proof 1873 three-dollar pieces that are included in the Mint Director's reported mintage of 25 Proofs for the year. Thus, JD-1, JD-2, and JD-3 are all original Proof strikings of the 1873 three-dollar gold issue, the combined mintage for all three die pairings just 25 coins.

After the unique JD-2 Close 3, the JD-3 Dished Close 3 is the rarest variety of the Proof 1873 three-dollar gold issue. Dannreuther's estimate for survivors is on the order of just four to six specimens, one of which is part of the Harry Bass Core Collection and, as such, is not available for private ownership. Among the remaining examples market appearances are usually only at widely spaced intervals, as evidenced by the fact that the offered coin has been in the same collection since obtained by our consignor from the January 1986 Stack's sale.

The example to the left was sold by Stack's Bowers Galleries in the D. Brent Pogue Part III Auction, where it realized $164,500.