The 1854 Three Dollar Gold Piece is a unique and historically significant coin in U.S. numismatics. Designed by James B. Longacre, this coin features the “Indian Princess” head on the obverse, characterized by Liberty wearing a feathered headdress inscribed with “LIBERTY.” The reverse showcases a wreath of corn, wheat, cotton, and tobacco, encircling the denomination “3 DOLLARS” and the year of minting.
Minted primarily to facilitate the purchase of postage stamps, this coin was part of a series produced from 1854 to 1889. Despite its initial practicality, the denomination was eventually deemed unnecessary and was discontinued, making surviving specimens highly sought after by collectors. The 1854 edition, minted in Philadelphia, has a mintage of 138,618 and is known for its detailed artistry and historical context.
Why it Started
The Three Dollar Piece was introduced in 1854 to complement the $3 postage stamp, allowing for easier transactions involving postal services. Additionally, it aimed to facilitate the purchase of large quantities of inexpensive goods during the California Gold Rush, reflecting the economic needs of the time.
Why it Ended
The Three Dollar Piece was discontinued in 1889 due to limited public demand and practical use. Its awkward denomination, which didn’t fit well into everyday transactions, led to its eventual demise. The coin’s discontinuation also reflected broader changes in the U.S. economy and coinage preferences.
| Years | Species | Front | Back |
| 1854-1889 | Indian Princess |  |  |