What about rarity? This is the only example ever graded by NGC—in any grade!

What about grade? Consider Proof-67 Cameo!

What about fame? The $4 Stella is one of the most heralded of American rarities, and among the two designs, the Coiled Hair, by George T. Morgan, is the rarer.

All set to cross the auction block in Stacks Baltimore sale is this rarest of the rare pattern, Judd-1640, a glittering Proof in aluminum—a rare format even more elusive that an gold impression.

Here is some background, from Dave Bowers’ Whitman book on type coins (excerpt, adapted):

The $4 Stella

The Stella or $4 gold coin is among the most famous and desired of American rarities. The vast majority were struck in gold, with just a few in other metals. The presently offered aluminum striking provides the opportunity for some historical information:

The $4 piece was the brainchild of Hon. John A. Kasson, who had served as a minister to Austria. In Europe coins of slightly less value than the American $5 piece (the British gold sovereign being but one of many examples) were popular in trade. Kasson thought that an American $4 piece would serve as an international medium of exchange. This stands as one of many such notions that reached pattern coin form, but never resulted in issues made for general circulation. Others include the international $5 of 1868 and Dana Bickford’s impressive $10 of 1874.

However, logic dictated that the familiar $20 pieces were more convenient for international trade, easier to count, and were already in place. Besides, although the $4 Stella was set as being worth $4 American dollars, it still was not of the same value as even a single other current variety of European gold coin, and change would have to be made in transactions, just as it would have to be made for the standard $5 half eagle.

Patterns were prepared in two styles for Kasson’s proposal, called the Stella from the five-pointed star on the reverse. The most familiar today is the 1879 with Miss Liberty having flowing hair, the work of Charles E. Barber, son of chief engraver William Barber. The attractive and curious $4 Flowing Hair Stellas, as they are designated today, with the type in capital letters, were distributed in significant numbers to congressmen and others. An early story, true per testimony of the era, is that these became favorite gifts to madams and others in the demimonde of Washington, where ladies were always pleased to cater to the pleasure of male legislators distant from home. As a result, more than just a few $4 pieces in existence today show evidence of having been used as jewelry. As to how many 1879 Flowing Hair Stellas were struck, no one knows, with 425 being a popular figure. My estimate is about 700.

In the same year, 1879, George Morgan created his version of the Stella, with Miss Liberty having coiled hair, the design offered here, in aluminum. Apparently, no records at all were kept of the quantity made, and later factual-appearing statements as well as guesses have ranged from 10 gold impressions upward. In 1880 both Flowing Hair and Coiled Hair versions were made, again in small numbers. In 1879 and 1880, information about the three rare varieties (1879 Coiled Hair and both of 1880) was kept under wraps, and it was not until decades later, well into the 20th century, that illustrations of each of these appeared in print!

Related posts:

1. Lear Capital Assembles World’s Finest Known $4 Stella Gold Coin Set
2. Historic proof sets and ‘Stella’ pattern coins present momentous opportunities for collectors at FUN
3. Three $4 Coil Hair Stella Pattern Coins to be offered by Heritage
4. Stellar 1879-S $20 to be offered
5. 1879 ‘Washlady’ dollar brings $161,000 to lead $9.42 million Heritage COINFEST auction
6. Bowers and Merena to Offer 1879-O Class I Branch Mint Proof Morgan Dollar In Baltimore
7. Rare Hawaiian $500 Currency of 1879 Offered in Heritage’s April Central States Auction
8. DLRC Announces project Stella
9. 9th Numismatic Reference Guide added to Stella Coin News Library
10. Superb Set of Australian Banknotes sold by Spinks for £350,000