A rare gold coin with a face value of $4 could be sold for $1.5 million at a late-September Bonhams auction in Los Angeles, CA. Known as the Coiled Hair Stella, the six-ounce gold coin dates back to 1880 and is believed to be one of only 10 or 12 that were ever produced, most of which are in held in private collections or public institutions.
A Solid Gold Piece of History
This particular coin was made in the United States as part of an effort to increase the ease of international trade by matching the weight of coinage of countries in the Latin Monetary Union. The endeavor, however, lacked public support and was subsequently abandoned. The few coins that had been struck were never released to the public and no more were ever made.
According to Paul Song, director of rare coins for the auction house, the 1880 $4 Coiled Hair Stella is so rare that one only appears on the market around once a decade. This one will be sold in a lot with 26 other coins that are expected to fetch as much as $8 million in total. Having been graded “perfectly preserved,” the valuable coin features a depiction of Liberty on one side and a five-point star with the words “ONE STELLA 400 CENTS” on the reverse.
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