Lot 3226
1879 Pattern Four Dollars. Gold, reeded edge. J-1635. NGC graded Proof 62. A classic design by George Morgan, founded in a proposal by Representative John Adam Kasson for an international coinage. Nicely struck and fully reflective, but with just a few too many light hairlines to make the choice grade. Faint surface striations typical of the 425+ Proofs struck after the 25 Originals (which supposedly show no striations). Mostly brilliant, with just a hint of cameo contrast on the central devices. This is one of the most popular of all American coins, enough to make Stellas one of the few Pattern coins included among regular issue coins in most reference books (the GUIDEBOOK being a notable example).
Stellas are "international" not in their conformity to other world gold coins, but in the fact that they state their weight and the relative proportions of gold and silver on their face. Presumably, gold was appreciated more worldwide in 1879 than were U.S. baknotes, thus it was easier to determine the value of 6 grams of pure gold than it was to convert $4 in bills based on some market- or government-imposed rate. Regardless of intent, the Stella experiment failed and was abandoned. Ultimately, the Dollar became an international currency all on its own, not due to experiments such as this, but because of the strength and stability of U.S. markets. One final note on the relative value of the Dollar -- in 1879, it took four of them to purchase a Stella; today, it takes many tens of thousands, as this piece will prove! Estimated Value $65,000 - 70,000
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