The $3 Gold Coin: The Three Dollar Piece 1854–1889

Unless you are an avid coin collecor, here's the story of a gold coin you are unlikely to have ever heard of, much less seen. The $3 gold coin—often called the “Three Dollar Piece” or “Indian Princess Head”—is one of the most unusual denominations in U.S. coinage. The United States Mint struck it in limited quantities from 1854 to 1889. By design, it lined up neatly with postal pricing at the time: a full sheet of 100 three-cent postage stamps totaled $3.00.

Why the U.S. Mint Created a $3 Coin

• Postal convenience: $3 matched the cost of 100 three-cent stamps (a common sheet quantity).
• Gold supply: The mid-1800s saw increased gold flows (including from the California Gold Rush era), supporting additional gold denominations.
• Distinct from $2.50 gold: The coin’s size and format helped separate it visually from the quarter eagle.

Design

• Designer: James B. Longacre
• Obverse: Liberty in a Native American-inspired feathered headdress (the origin of the “Indian Princess” nickname).
• Reverse: A wreath of corn, wheat, cotton, and tobacco surrounding “3 DOLLARS” and the date.

Specifications

Mints and Mint Marks

Three dollar gold pieces were struck at multiple mints. Mint marks (when present) appear on the reverse below the wreath.

• Philadelphia (no mint mark)
• Dahlonega (D)
• New Orleans (O)
• San Francisco (S)

Circulation and Discontinuation

Despite its clever purpose, the $3 gold coin never became a widely used circulation coin. It saw limited everyday use, and demand was often driven more by novelty than necessity. Production ended in 1889.

Collecting the $3 Gold Coin

Many dates of the series are scarce, and even “more available” dates can be challenging in higher grades. Collectors often pursue the denomination by type (one representative example) or by date-and-mint set (a much tougher goal).

Key Dates and Notable Issues

• 1870-S: Unique issue (only one confirmed). It realized $5.52 million at auction in January 2023.
• 1873, 1875: Better dates that are especially challenging for collectors.
• 1876: Proof-only issue.
• 1854-D: Important early branch-mint key date.

More Available Dates

• 1854
• 1874
• 1878

Value

Because of their scarcity and strong collector demand, $3 gold pieces often sell for thousands of dollars, depending on date, mint mark, grade, and originality. Condition matters greatly—problem-free coins with attractive surfaces typically command significant premiums. This is an ideal “Dream Coin” to build a solid foundation in any collection of classic U.S. rare coins.