Stack’s Bowers Galleries, the
only official ANA auctioneer for 2013, will present the first of our two ANA
auctions for the year with the May 7-11 Official Auction of the ANA NationalMoney Show, in New Orleans, Louisiana.
This exciting event will feature
many scarce-to-rare numismatic delicacies, some of them in the Private or
Territorial gold category; intriguing items from the longtime holdings of a New
England museum; and several noteworthy pieces that are highly desirable based strictly
upon their individual merit and rarity.
One of those outstanding
offerings will be an 1879 Coiled Hair, four-dollar Stella, graded as Proof-64Cameo by PCGS, in a Secure Holder.
As other
numismatists have observed, the $4 gold Stella is a truly rare treasure that is
usually not acquired, by many (if not most) of the collectors who ardently
pursue them; sometimes for many years or even decades. This is not necessarily
a function of the high cost for an example of this rare type: rather, it may
simply be the case that even a well-heeled numismatist will be unable to
succeed as the highest bidder at one of the infrequent auction appearances of
these beautiful coins. Those hardy souls who do enter the fray, and compete for
the proud ownership of one of these lovely pieces, must choose between the
relatively more available Flowing Hair design, or the extremely elusive Coiled
Hair type.
The Coiled Hair
Stella is one of the most coveted and classic issues in American
numismatics. Minted during only two years, in 1879 and 1880, there are just a
handful known of each date, and any appearance is an opportunity for the
specialist. The obverse design is by George T. Morgan, with a bust of Liberty
facing left, her hair coiled in a complex braid wrapped in a coil at
the top of her head. She wears a tiara inscribed LIBERTY in tiny letters.
Around the obverse the legend reads * 6 * G * .3 * S * .7 * C * 7 * G * R * A *
M* S* an abbreviation for 6 grams gold, .3 grams silver and .7 grams
copper for a total of 7 grams. The date 1879 is below the bust. The reverse is
the same seen paired with the Flowing Hair obverse, engraved and
designed by Charles E. Barber. The central feature is a raised five pointed
star, with a beaded inset border. Inscribed on the star is ONE / STELLA /
400 / CENTS. Around the star, in small letters, DEO EST GLORIA / E
PLURIBUS UNUM. The outer legend reads UNITED STATES OF AMERICA,
with FOUR DOL. below.
The current
specimen offers fully brilliant surfaces with no copper specks seen tucked into
the lettering, rims or devices. For future pedigree tracing there is a
minute obverse lint mark just touching the back of Liberty's neck,
just below her hair line. The strike is reasonably sharp on all devices,
although a hint of softness is noted in Liberty's curls above her
ear, a diagnostic feature of this extremely rare issue.
The idea for a
new trade coin in gold was developed by Representative John Adam Kasson who
felt America should have its own international coinage in gold. Kasson was also
involved with the legislation to help the silver miners offload their silver
bullion for coinage with the help of Representatives Richard P.
"Silver Dick" Bland and William Darrah Kelley--legislation which gave
birth to the Trade dollar, the Goloid Patterns and the Metric coins. However,
among the issues so inspired, the Stella stands high among them as the most
highly prized today. The Stellas were struck during just two years
and are technically patterns, though the first year (1879) Flowing Hair
design was widely distributed. Why so few Coiled Hair examples were struck is
not known, but today these are some of the most popular of the Pattern issues
in any metal, and particularly so in gold. Few collectors have ever seen one,
let alone had the chance to own such a numismatic treasure. It has been years
since a Coiled Hair Stella appeared for sale, and this one is as beautiful as
it is rare, with nice cameo contrast nicely complementing the superb aesthetic
quality. In short, it would be virtually impossible to replace the quality
and rarity seen here, and it may be years before another Coiled Hair Stella is
offered.
No comments:
Post a Comment