Question:
I have a R.W. Jug with the No.3 on it. I assume it holds 3 gallons, wondering if it has any value

Answer: You are correct in regards to the 3 meaning 3 gallons. Red Wing made two kinds of jugs. The first being a beehive jug and the later a shoulder jug. I would need to see a photo of your jug to determine which one it is. The difference being $75 to $100 versus $350 to $375. Prices are for mint pieces with no chips, cracks or hairlines. Al Kohlman