Ron Guth: The 1864 Three-Cent Silver has a deliciously low mintage of only 12,000 circulation strikes (all of the dates from 1862 show declining mintagaes, with one small spike in 1866). Surprsingly, the number of surviving examples, especially those that are certified, is much higher than normally expected. For instance, the PCGS Population Report shows a higher number of mint state 1864 Three Cent Silvers than the 1866, which has a mintage almost twice as high as the former. Why so many nice examples were set aside by collectors is unknown.
This date, like so many in this series, comes with clashmarks. These are usually seen on the obverse in the shape of a diamond in the left field and other outlines in some of the inner points of the stars. Reverse clashmarks are either light or nonexistent.
The finest examples certified by PCGS are six in MS68.
Breen warns of counterfeit examples of this date, so authentication is recommended.