Market Analysis: Finest-known 1857-S $3 coin

Market Analysis: Finest-known 1857-S $3 coin

By Steve Roach , Coin World, Published: Nov 2, 2021, 12 PM

Many rare gold coins were recovered from the wreck of the SS 'Central America', such as this 1857-S Indian Head gold $3 piece, certified MS-67 by Professional Coin Grading Service and carrying a green Certified Acceptance Corp. sticker.

Its PCGS gold foil label was used for many of the holders containing coins from the recovery. It sold for $367,875 at an Aug. 29 GreatCollections auction, with the auction house calling it, “Perhaps the most important single coin to be recovered from the famous shipwreck.”

Displayed at the 2018 American Numismatic Association World’s Fair of Money as part of the popular “Ship of Gold” exhibit, it is the finest-known for this San Francisco Mint issue by a wide margin. The second-finest, graded MS-64 by PCGS, sold for $76,375 at the February 2016 auction of the D. Brent Pogue collection.

With a low mintage of 14,250, the 1857-S Indian Head $3 coin is scarce in all grades and rare in Mint State.