Estimated grade. Sold in Stack's Auction of Garrett / Hopkins University, Mar. 1976
David Akers (1975/88): Next to the legendary 1870-S, the 1875 is the most famous and highly desired three dollar gold piece. It has auction records as high as $150,000 (PCGS CoinFacts editors note: Remember this was written in 1976), although, as the auction records conclusively show, it is not nearly as rare as the 1873 Open 3 and is, in fact, one of the more common dates in proof prior to the 1880's! Certainly, it has been offered for sale many more times than the 1874 or 1878 which have identical reported mintages of 20 pieces. This apparent discrepancy is answered by the fact that the claimed mintage of 20 for the 1875 is not really accurate since more than 20 pieces are known to exist. The term "restrike" has been used when discussing the 1875, but properly used, the term "restrike" denotes a coin that is struck in a year later than its date. Such has not been conclusively proven to be the case with the 1875 three dollar gold piece, and although there are differences between known specimens, it is more likely that they were merely struck at different times during the same year rather than in different years.
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