1879 Flowing Hair Stella expected to make $95,000



2015-06-26 13:26:09

1879 Flowing Hair Stella expected to make $95,000

An 1879 Flowing Hair Stella will lead Heritage Auctions' September 25-29 sale in Long Beach

An 1879 Flowing Hair Stella $4 proof will highlight a sale of US coins at Heritage Auctions in Long Beach on September 25-29 with a valuation of $95,000.

The coin is graded 65 and while it may be regarded as the type coin of the series due to the extreme rarity ofits variants, the 1880 Flowing Hair and the 1879 and 1880 Coiled Hair, it is still a desirable piece.

1879 Flowing Hair HA The 1879 Stella is one of only 425 ever struck

The origins of the coin lie in the late 1800s when John Kasson, the US ambassador to Austria and former chairman of Coinage, Weights and Measures, suggested to Congress the creation of an international gold coin with a value close to that of the Austrianeight florin piece.

Two designs were proposed - one showing Liberty with flowing hair and the other with coiled. Theproject, which was an attemptto facilitate international trade, was shelved in 1880 but the coins remained in the US Mint.

An estimated 425 Flowing Hair Stellas were struck in 1879, while 25 more were made in 1880. The Coiled Hair Stella is much rarer with only 15 ever struck. An example sold at Heritage in 2009 for $546,250. A forthcoming auction on September 23 will see the sale of the Tacasyl coin collection, which features four Stellas, including an 1880Coiled Hair with an estimate of $1.5m.

Last year an 1879 Flowing Hair Stella sold for $184,000, representing a 2.3% pa increase on the $161,000 paid for a piece at the same grade in 2006.

The auction also features a 1926-S Buffalo nickel -the rarest in its series and valued at $90,000. A premier strike rarity, it is believed that the die was left over from a previous year - accounting for the softness of detail.

It sold previously at the 2008 Chicago Rarities Sale for $322,000 - a record price for a 1926-S nickel.

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