The $3 gold piece is one of the more unusual coins in all of U.S. coinage. It had one of the shortest production runs and a low overall mintage, while its innovative understated design was like no other in American numismatics when it first appeared on the scene. There is no universally accepted explanation as to why Congress decided to establish this new denomination, but the flood of gold supplies due to the California Gold Rush probably had something to do with it. Some numismatists, on the other hand, believe that the denomination was created to facilitate the purchase of 3-cent postage stamps in sheets of 100. In designing the $3 gold piece, Mint Engraver James Longacre sought to create a unique motif so that the new coin would not be confused with the two other gold coins of the era that were very similar in size, namely the Liberty Quarter Eagle and the Liberty Half Eagle. The design that Longacre crafted ensured that there would be no confusion and the coin's classic beauty has made it a favorite of collectors and investors to this day.
