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Sale 100
September 3-6 2017 Pre Long Beach Sale
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Lot 1146 |
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1879. Flowing hair. PCGS graded Proof 62. A hint of golden tone on both sides of this ever popular denomination. The eye appeal and quality of this coin are such that any collector will long enjoy viewing the devices and fields, with the reflectivity expected and the frosty devices sharp and attractive.
This denomination was hatched by Rep. John Adam Kasson, who noted the need for more international coinage from the United States to be used in trade. The Trade dollar had already seen its day in the Asian countries and was on its way out. Many foreign countries issued gold coins which circulated widely of a roughly $4 face value. The $5 gold coin was too large for international competing trade, so Kasson proposed these $4 gold coins or Stellas. Kasson's proposal stated that the gold content should be 60/70 parts, silver would be 3/70 and copper the balance of 7/70 with a combined total of 7 grams. Mint Engraver Charles E. Barber designed the Flowing Hair style while George T. Morgan designed the Coiled Hair pattern issue $4 Stella. Initially 15 pieces were struck of the Flowing Hair coins for Congressional review. They proved so popular that many Congressmen wanted an example, so 400 or so more were struck. Collectors were not included on the list to receive these unusual pattern coins. In short order the publics cries were heard and after another small issue of 1880 Stellas this denomination was shelved. To this day, the "Stella" gold coins stand as a testament to any advanced collection, and those collectors without an example are somehow lacking.
Popular and always in demand. Only 425 struck (PCGS # 8057) Estimate Value $100,000 - 110,000
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$117,500 |
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