1880 $4 COIL HAIR
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For example: On Tuesday, you bid $1500 against Bidder A's Maximum Bid of $1000, raising Current Bid to $1100. Then on Thursday, Bidder B, seeing a Current Bid of $1100, guesses the final price and decides to bid $1501, outbidding your Maximum Bid by $1. You would now have to bid $1600 through Heritage Internet bidding or $1550 on Heritage Live (if available for the auction) to possibly win that lot. Next time, maybe you'll bid $1502 and outbid Bidder B by $1!
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Consignor Has Not Yet Submitted a Reserve:
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Reserve Not Met:
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Extended Payment Plan
Available on select items as noted on the item page in the bidding area.
- Minimum invoice total is $2,500.
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Note: This offer may not be available on some items.
Terms and Conditions
Extended Payment Plan for Heritage Owned Inventory Items(excludes Virtual Bourse, Comic Market and Virtual Sports Show)
- Minimum invoice total is $2,000.
- You may take up to 6 months to pay the balance (monthly payments of at least 1/6th of invoice total).
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- Payments (including the down payment) must be made on-time per your specific EPP schedule (there will be a brief grace period).
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- There is no penalty for paying off early.
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Note: The extra increment won't be placed until the item is up for live bidding, so it is possible that you could be outbid by a bid placed prior to live bidding, such as another proxy bid, live proxy bid, mail bid, etc., which could result in your losing the lot by that one increment. For the same reason, it is also possible that a currently losing bid with bid protection placed could potentially win the lot once the lot is subject to live bidding and the Bid Protection increment(s) is placed.
While Morgan's stella design is nearly identical to that of Chief Engraver Charles E. Barber, the former artist altered the obverse portrait by coiling Liberty's hair into a neat bun atop her head. The majority of 1879-dated specimens bore Barber's Flowing Hair design, but the Philadelphia Mint did strike between 10 and 15 gold examples using Morgan's motif. By mid-1880, regardless of its supposed benefit to the international monetary system, Congress had finally realized that a four dollar gold coin was superfluous in a coinage family that already included two and a half, three, and five dollar denominations. Nevertheless, a paltry sum of 10 1880-dated stellas emerged from the Mint's presses; undoubtedly to the satisfaction of Superintendent A. Loudon Snowden's closest associates. With an extant population of only 9 pieces, Morgan's 1880 Coiled Hair stella is the rarest in the series and, indeed, one of the most desirable gold coins in United States numismatic history.
Considerable mystery surrounds the 1880 Coiled Hair stella. Of the 9 reported survivors, 5 display mirrored fields and frosted devices while the other 4 exhibit brilliant proof qualities throughout. This variance seems to suggest that the Mint struck the 10 coins on two distinct occasions. In his book United States Gold Coins: An Analysis of Auction Records, however, David Akers speculates that the 5 cameo proofs may be survivors of the original delivery of 10 coins. In keeping with this theory, therefore, the 4 brilliant proofs represent restrikes that the Mint produced at a later date. Regardless of which theory, if either, is correct, there is little doubt that this effulgent example is one of the 4 brilliant proof representatives available to advanced collectors today. The obverse displays the closely spaced striations and weak definition over the central hair features that typifies the issue. The balance of the surfaces are, however, smartly impressed and indicative of proof execution. Despite numerous grade-defining hairlines, the deeply reflective qualities of both the fields and devices radiate forcefully through the holder. An abrasion in the reverse field below the first U in UNUM is important for pedigree purposes. In his book United States Gold Coins: An Illustrated History, Q. David Bowers asserts: "While type set collectors desiring examples of the Flowing Hair stella design can be satisfied with an 1879…the Coiled Hair stella is a different story entirely. Only at widely spaced intervals does the opportunity to acquire an 1879 Coiled Hair stella present itself, and appearances of the exceedingly rare 1880 Coiled Hair are even more infrequent." To this statement from one of numismatics most gifted and respected scholars, we can add little to accentuate the fleeting opportunity that this lot represents for gold specialists.
From the Joseph J. Abbell Collection of U.S. Gold Coins. (NGC ID# 28B4, PCGS# 8060)
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