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Lot: 3570
Auction: 1116   		1879 $4 Flowing Hair, Judd-1635, Pollock-1833, R.3, PR64 Cameo NGC....
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Ended: Sep 18, 2008
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Description
Desirable 1879 Flowing Hair Stella
Judd-1635, PR64 Cameo


1879 $4 Flowing Hair, Judd-1635, Pollock-1833, R.3, PR64 Cameo NGC. Numismatic riddle: What do the half cent, two cent, three cent, twenty cent, three dollar gold, and four dollar stella have to do with each other? Alert numismatists probably picked up on the answer at the second coin: They are the odd denominations of U.S. coinage, neither fish nor fowl. While not quite fitting into the mainstream of the United States' numismatic history, each denomination has still taken a part at one time or another, some merely bit players, some with more substantial roles ranging from the significant to the merely "curious."
It is also well worth mentioning that the perception of most of those denominations and their importance in numismatic history has, in most cases, changed greatly over time.
The half cent was produced in mostly small numbers at sporadic intervals from 1793 until 1857--sometimes in proof format only for certain years. It was a denomination with little purchasing power, one that took a back seat to the large cent, a workhorse of early U.S. commerce along with the half dollar. Today, of course, both the half cent and large cent are the beloved "old coppers" of numismatic lore.
The copper two cent (1864-1873) and silver twenty cent piece (1875-1878) were much more bit players in coinage history, the former enduring less than a decade and the latter lasting only four years before numerous personality problems ended its brief career.
With some overlap during the 19th century, first the three cent silver (1851-1873) and then the three cent nickel (1865-1889) took their turns on the numismatic stage. The three cent silver was detested due to its diminutive size (giving rise to the term "fish scales"); the three cent nickel had a slightly longer life but performed past its prime in 1883, when lower rates for letter postage obviated the need for a three cent coin. The three cent nickels' career finally ended with a whimper in 1889, after a series of proof-only issues that have so often in U.S. numismatics signaled the final curtain for various denominations.
The three dollar gold (1854-1889) was another numismatic curiosity, one whose career roughly coincided with the minor three cent denominations. Although some modern-day numismatists suppose the denomination would have been useful to buy sheets of 100 three cent postage stamps or 100 three cent silvers, the series was unable to perform any role that a quarter eagle and half dollar could not do just as well. The mintages of the denomination reflect considerable ambivalence over its desirability, and as often happens with numismatic actors whose careers are doomed, the business strike emissions became progressively less before coming to a halt in 1889.
Finally we come to the four dollar denomination. This is likely the oddest and most curious denomination of all. While the four dollar coin was intended as a unit of international commerce--and a metric one, at that--it was not a precise equivalent for any of the denominations it was supposed to replace. And while the inscriptions on the coin claim an even number of metric grams as composition, most numismatists today believe that, as a pattern proposal for a coinage that was never launched, the planchets used to strike the coins were of the normal gold composition, on planchets 80% of the thickness of a half eagle to produce the intrinsic value of four dollars. While the 1879 Coiled Hair and both of the 1880 issues were produced in extremely tiny numbers, the 1879 Flowing Hair was --so the story goes--produced to the extent of 15 "originals" in 1879 with an unknown number of "restrikes," variously estimated from 300 to 700 pieces, in 1879 or 1880. The supposition about "restrikes" comes from Akers' 1976 gold reference, Volume III, where he notes that the "restrikes" have "light adjustment marks or striations on the head of Liberty."
In practice, all of the 1879 gold stellas we have cataloged at Heritage have shown the striations, which are roller marks from a shaved planchet, thinner than a regular half eagle planchet, that did not strike out during impression of the coins.
The present example displays the roller marks or planchet striations through Liberty's lower hair and her profile to the jawline. This desirable coin appears quite close to an Ultra/Deep Cameo designation, and tilting the piece at the proper angle produces the black-on-gold appearance so coveted in proof gold. Viewed head-on, the specimen appears greenish-gold with a lot of eye appeal, and only under a loupe do a few tiny contact marks appear.
Although the stella is considered strictly a pattern, the number of estimated pieces produced has allowed many numismatists of means to collect one alongside their regular U.S. coinage. In this respect, the 1879 Flowing Hair stella has similarities to yet another U.S. coin--the 1856 Flying Eagle cent. Both are among the most memorable and desirable issues in all of U.S. numismatics.
From The Laredo Collection.(Registry values: P1) (#88057) View Entire Collection.

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Auction Name: 2008 September Long Beach, CA US Coin Signature Auction #1116
Description: Heritage Numismatic Auctions offers U.S. and World coins, medals, and tokens in our Signature Auctions & Final Session Sales, held in conjunction with some of the largest numismatic conventions. These sales feature award-winning cataloging and photography. Call or e-mail one of our Consignment Directors to learn about selling through Heritage.
Auction Type: Signature: !! Heritage Live: After Internet bidding closes, live bidding will take place through www.HA.com/Live. Your secret maximum bid placed prior to the live event will compete against the live bids. To maximize your chances of winning, enter realistic secret maximum bids on our site. Many of our proxy bidders are successful at winning lots in these auctions, and usually below their secret maximum. You can also place last minute bids directly with us by e-mailing Bid@HA.com or calling 1-866-835-3243. (Important note: Due to software and Internet latency, live bids may not register in time, so enter realistic proxy bids.)

This lot is in:  Signature Floor Session (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live) (lots 1-4546)
Internet bidding ends at 10:00PM CT the night before the floor session for this lot. During the live auction event, bidding in person is encouraged, and Heritage Live includes streaming audio and often video during the event.

Item Activity: 7 Internet/mail bidders, 1,322 page views



Previous Prices from Heritage Auctions
Lot Date Grade Service Realized
Auction 1121, Lot 4030 Sunday, January 11, 2009 64 NGC $149,500.00
Auction 428, Lot 2689 Thursday, October 26, 2006 64 NGC $178,250.00
Auction 1127, Lot 1414 Sunday, July 12, 2009 64 PCGS $155,250.00
Auction 1114, Lot 1932 Sunday, August 3, 2008 64 PCGS $195,500.00
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PLEASE NOTE: All prices realized reflect the final hammer price PLUS the buyer's premium in auctions that charge a buyer's premium. Each item has a notation at the top of the listing indicating whether that lot included a buyer's premium. Example: A item that sells with a final hammer price of $100 and a 15% buyer's premium will display with a price realized of $115. All information listed is intended to be as accurate as possible, but errors are possible. Please use this guide carefully and inform us of any inaccuracies.

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