The 1878 $3 Gold Coin: A Gem from the Industrial Revolution

In 1878, the United States of America was in the midst of a major transformation from an agricultural society to an industrialized society—ushering in the Industrial Revolution. Collectors who own a coin from this period connect tangibly to this historical time when America emerged as an industrial giant and major economic power on the global stage.

The rapid construction of railroads opened up new parts of our nation for people to live and work and ushered in significant economic growth. Manufacturing and new inventions developed quickly, leading to the expansion of city living and urbanization.

During this period, the U.S. Mint in Philadelphia produced $3 gold pieces known as the Indian Princess Head. Many people are not even aware there was a three-dollar gold piece. It is a hidden gem in gold numismatics indeed. The Indian Princess Head $3 gold coin was minted from 1854 through 1889

If you are wondering why the U.S. Mint chose to produce a $3 coin, you aren’t alone. It is an odd number after all. Numismatic experts believe the reason can be found at the post office. When this coin was first minted a U.S. postal stamp cost 3 cents. The $3 coin created a convenient way for businesses to purchase 100 stamps in a single transaction!

The handsome design of this coin is memorable for anyone who has ever seen it in person or held it in their hand. Many consider the $3 Indian Princess one of the most beautiful gold coins struck in the 19th century. See the rich frosty luster and sparkling patina that comes with this 147-year-old masterpiece here.

James B. Longacre, the U.S. Mint’s chief engraver, designed the coin. Longacre was, for the first time, given the freedom to create a design of his own imagination. Previously, he had been instructed to rely on Roman or Greek features in U.S. coins. For the $3 gold coin, Longacre was determined to create something uniquely American.

Longacre chose to highlight an American “Indian Princess” on the obverse. A lustrous orange-gold color, the coin shows a lovely Indian Princess adorned with a feathered headdress, with the words UNITED STATES OF AMERICA circling her. On the reverse, the date and denomination are surrounded by an agricultural wreath celebrating corn, tobacco, cotton, and wheat.

Minted in Philadelphia of 90% gold and 10% copper, the total mintage came in at  82,304 coins. Survival estimates for all grades total 25,000, yet for grades 60 or better only 6,000.

In recent years, collector interest in three-dollar gold pieces has surged. Are you Interested in building a set? One idea is to aim to collect a four-mint set, which would include from each of the U.S. Mint facilities that struck the $3 gold coin: Philadelphia, Dahlonega, New Orleans, and San Francisco. You could start today with this 1878 $3 gold coin MS65 struck in Philadelphia. See it here.