One of the rarest U.S. gold coins from the 19th Century.1879 Coiled Hair $4 Gold Stella, graded Proof 66 Cameo, was sold for almost $1,000,000 by David Lawrence Rare Coins, making its entry into the PCGS Million Dollar Coin Club.
The $4 Stellas of 1879 and 1880 or “Pattern” coinage were regular issue proof gold pieces. John A. Kasson created them with help from Dr. William Wheeler Hubbell for international trade. Production stopped because it was not popular. Out of the two varieties, Coiled Hair and Flowing Hair, the former is rarer. The rarest is 1880 Coiled hair while 1879 Coiled Hair is the second rarest date with only 12 known examples.
The offered coin was passed on from several generations. It has well-struck devices; some hair strands have slight softness due to planchet striations. It also features frosty surfaces with cameo contrasts and deeply mirrored fields.
Experts notice that there has been a good demand for rare coins recently which is why they are being sold for impressive amounts.