This date-mintmark combination is famous because of the unique three dollar gold piece. Although far from unique, specialists in this series recognize the 1870-S gold dollar as a challenging issue. Dave Bowers points out in A Guide Book of Gold Dollars that despite a reported mintage of 3,000 pieces, “it is likely that 2,000 lacked the S mintmark.” Indeed, the first sets of dies sent to the San Francisco Mint for 1870 production inadvertently lacked the mintmark. On May 14, the superintendent of the S-mint sent a telegram to Philadelphia explaining that 2,000 coins had been struck from those dies and asking whether or not they could be issued. It is not known for certain if those pieces were distributed. Assuming they were, that would leave a net mintage of only 1,000 1870-S gold dollars with the identifying mintmark. It may also explain why Augustus G. Heaton called this issue “excessively rare” in his 1893 treatise.
Tied with two others for the highest graded by NGC.
Listed at $38,000 intheNGC price guide.
Offered at $26,700 (ACH, Bank Wire, add 3.5% for Major CC & PayPal)
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