1879 $4 JD-1 Coiled Hair PR67CAM NGC
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1879 $4 Coiled Hair, Judd-1638, Pollock-1838, JD-1, R.6, PR67 Cameo NGC. Ex: Tacasyl Collection. The 1879 Coiled Hair stella is one of the rarest and most valuable issues in American numismatics. In addition to their absolute rarity (only 14 examples traced), the coins possess a beauty of design and fascinating history that few issues can match. Traditionally listed with the pattern series, the 1879 Coiled Hair stella has been enthusiastically adopted into the regular U.S. gold series, as well. The infrequent auction appearances of Coiled Hair examples are met with spirited bidding from pattern enthusiasts and advanced U.S. gold collectors alike. Heritage Auctions is pleased to present one of the finest-known examples of this iconic issue in this important offering. Origins of the Stella Traditionally, the concept of the stella has been ascribed to the Honorable John A. Kasson, the U.S. Minister to Austria in 1879, and former chairman of the Congressional Committee on Coinage, Weights, and Measures. Kasson wrote a letter in 1879 advocating the creation of a coin that could be exchanged directly for the Austrian eight florin piece, which was worth $3.88. However, in the Spring 2015 issue of the Journal of Numismatic Research, Roger W. Burdette notes that while Kasson's letter may have provided the inspiration for a new gold coin at the critical time in 1879, the real impetus behind the creation of the stella came from Dr. William Wheeler Hubbell. Hubbell was an advocate of the metric system and holder of the patent for the goloid alloy used on a controversial series of patterns in the late 1870s. Goloid was a composition of gold, silver, and copper, combined in various proportions. Accordingly, Hubbell proposed a four dollar stella as an approximation of Kasson's suggested $3.88 coin. The stella would have a composition of six grams of gold, 3 decigrams of silver, and 7 decigrams of copper, and a weight of 7 grams. Hubbell had the support of several ...
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