As was the case with contemporary gold dollars, $3 pieces formed a popular speculation for investors after 1878, and those pieces dated from 1879 through 1889 exist in Uncirculated grades in proportionately larger quantities than their low mintages would suggest. Still, the absolute population is sufficiently low that examples are and always have been in strong demand. Of particular interest is the 1881, of which just 500 business strikes and 54 Proofs were produced.

Budget Recommendations: No recommendations here, as low-grade $3 gold coins are apt to be quite unattractive. Besides, as noted, all issues are rare. Consider what I have to say under the following listing.

Recommendations for the Connoisseur: If you are typical, you will want just one $3 in your collection, to illustrate the design. However, forming a date set can be a fascinating challenge, and if you omit the unique 1870-S and do not include the Proof-only 1875 and 1876 issues, this can be done with some patience. A California client put together such a set in EF-40 or better grade for about $75,000. If you want to cherrypick single coins, be aware that Mint State issues of just about everything from 1854 to 1872, but especially 1855 to 1858, are rare (the 1854 Philadelphia Mint issue is an exception; these are readily available).

Elite Recommendations: Aspire to build a set in the highest grades possible, up to MS-65 and Proof-65, first consulting David Akers' book on the series in order to determine the availability of certain issues.

$4 Gold Stellas (1879-1880)

Four-dollar gold pieces, or stellas, so-called from the five-pointed star on the reverse, are patterns, not regular coins. Stellas were produced in 1879 and 1880 at the suggestion of Hon. John A. Kasson, U.S. minister to Austria, who felt that a coin of this value would have been used by foreign travelers, as it could be readily exchanged for gold coins of approximate equivalent value in France, Germany, and other European countries. Indicative of its intended international nature, the obverse legend of the $4 piece expressed its metallic content in the metric system as follows: 6G, .3S, .7C, 7 GRAMS.