Numismatist Walter Hagans in his 2003 article on the three-dollar coin notes and dismisses the postal explanation, writing "the actual reason for the gold $3 coin was the abundant supply of gold discovered in California."
Numismatist Walter Hagans in his 2003 article on three-dollar coin notes rejects the postal explanation, stating that "the actual reason for the gold $3 coin was the abundance of gold found in California."