1879 $20 Liberty Head Quintuple Stella, Judd-1643, Pollock-1843, Low R.7, PR64 Deep Cameo PCGS....

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1879 Metric Double Eagle Pattern, PR64 Deep Cameo
Famous Quintuple Stella, Judd-1643
Only Four Examples in Private Hands
Ex: Brand-Carter-Simpson

1879 $20 Liberty Head Quintuple Stella, Judd-1643, Pollock-1843, Low R.7, PR64 Deep Cameo PCGS. Ex: Simpson. The 1879 quintuple stella, or Metric double eagle, Judd-1643, is one of the rarest, most famous, and sought-after issues in the U.S. pattern series. The quintuple stellas are closely associated with their even more famous four dollar pattern siblings, the perennially popular stellas of 1879 and 1880, but they are much rarer. Only five examples are known to collectors and one of them is included in the National Numismatic Collection at the Smithsonian Institution, forever out of reach of eager collectors. Heritage Auctions is privileged to present the second-finest certified example of this landmark pattern rarity in this important offering.

Design
The obverse features the Liberty Head profile from the regular issue double eagle, although it does not appear to be struck from the Type Three hub used for regular issue pieces. The standard diagonal die line from the hair to the left side of Y is not present, as it is on all regular issue pieces of the Type Three design. The legend is a variation of the legend on the four dollar stella, spelling out the goloid composition and weight of the coin: * 30 * G * 1.5 * S * 3.5 * C * 35 * G * R * A * M * S *. The date is below the bust and the initials J.B.L. (James B. Longacre) are located on the bust truncation. The reverse is similar to the regular issue piece with an eagle and shield design, the legend E PLURIBUS UNUM on the scroll work to the left and right. Around, the legend UNITED STATES OF AMERICA, and below, the denomination TWENTY DOLLARS. An oval of stars and a glory of rays above the eagle contain the motto DEO EST GLORIA. This motto is different from the IN GOD WE TRUST inscription on the regular adopted design. The diameter is the same as the standard double eagle (34 mm), but the quintuple stella was designed to be slightly thicker and heavier (35 grams vs. 33.436 grams). Reportedly struck in goloid composition with a reeded edge, but we do not know of any elemental analysis that has been done to establish the composition of the known examples. However, the present coin was weighed for its appearance in the Trompeter sale in 1992 (before its encapsulation in a holder) and found to have the correct weight for the goloid composition of 35.01 grams. The design was also struck in copper (Judd-1644) with about a dozen specimens known, at least five of which have been gilt.

Origin of the Quintuple Stella
The always popular four dollar stellas of 1879 and 1880, and their even rarer 20-dollar counterpart, the 1879 quintuple stella, were part of an effort to create an international coinage that would function much like the euro does in the European Union today. Traditionally, the concept of the stella has been ascribed to the Honorable John A. Kasson, the U.S. Minister to Austria in 1879, and former chairman of the Congressional Committee on Coinage, Weights, and Measures. Kasson wrote a letter in 1879 advocating the creation of a coin that could be exchanged directly for the Austrian eight florin piece, which was worth $3.88. However, in the Spring 2015 issue of the Journal of Numismatic Research, Roger W. Burdette notes that while Kasson's letter may have provided the inspiration for a new gold coin at the critical time in 1879, the real impetus behind the creation of the stella came from Dr. William Wheeler Hubbell.

Hubbell was an advocate of the metric system and holder of the patent for the goloid alloy used on a controversial series of patterns in the late 1870s. Goloid was a composition of gold, silver, and copper, combined in various proportions. Accordingly, Hubbell proposed a four dollar stella as an approximation of Kasson's suggested $3.88 coin. The stella would have a composition of six grams of gold, 3 decigrams of silver, and 7 decigrams of copper, and a weight of 7 grams. The quintuple stella would have the same composition, with each element multiplied by five. In the same Journal of Numismatic Research article (Spring 2015), Roger Burdette notes the metric gold coinage was reported favorably to the House of Representatives on January 21, 1879 and a February 4, 1879-dated letter from Acting Mint Director Robert Preston to the Philadelphia Mint acknowledged receipt of three examples of the quintuple stella:

"Your letter of the 3rd inst., notifying this office of the shipment by Adams' Express Co. of three specimens of the Metric Double Eagle pieces for the House Committee on Coinage has been received. The coins have also been delivered by the express company."

Roger Burdette believes two other examples were struck at the same time for the Mint Cabinet. These coins were apparently later sold or traded to collectors by Mint officials. Another letter from Acting Director Preston on June 4, 1880 reports:

"There were only five Metric double eagles struck, and none of which are in the possession of this office, and as the dies have been destroyed, no more can be struck."

The 1887 Mint Collection pattern inventory by James McClure records the two quintuple stellas, but no gold specimens of this issue are mentioned in Louis Comparette's 1912 catalog of the Mint Collection. It seems all five of the 1879 quintuple stellas eventually made their way into collector's hands, but a single example has been donated back to the National Numismatic Collection by Stack's in recent times. All five pieces of the original mintage can be accounted for today (see roster below). Like the four dollar stellas, the 1879 Metric double eagle never progressed beyond the pattern stage.

The 1879 Quintuple Stella on the Numismatic Scene
Collectors became aware of the quintuple stellas soon after the coins were struck. The discovery coin was presented to Dr. William Wheeler Hubbell, the inventor of the special alloy for the international coinage program. It first appeared at auction in Philadelphia coin dealer John W. Haseltine's famous "Type Table" auction in 1881, just two years after its striking. Haseltine provided a lengthy description of the coin in lot 1490 of that sale:

"1879; Metric Gold Double Eagle or $20 Piece; obv., the head of Liberty; 13 stars interspersed with 30 G - 1.5 S - 3.5 C - 35 Grams; rev., spread eagle; "United States of America; Twenty Dollars;" motto, "Deo Est Gloria," emblazoned; struck by resolution of Congress and the only one issued; this is the first and only coin extant of the metric system of this denomination; there were 5 struck at the United States Mint, 3 in gold and 2 in copper; the copper specimens are in the Mint Cabinet; the other 2 gold pieces are in the Treasury Department, at Washington, which the Secretary of the Treasury positively refused to issue to any one; therefore, this is the only specimen issued, which was granted to Mr. W.W. Hubbell, the inventor; color, orange gold; weight 25 grammes; very beautiful; one of the rarest and most interesting coins in the world; it is limited to $300."

Haseltine was an insider, with excellent connections at the Mint. He seems to have had access to important information about the coin and may have seen the letter from Acting Director Roberts acknowledging the receipt of the three quintuple stellas sent to Congress. Curiously, he was not aware of the two gold specimens in the Mint Cabinet. In any case, while authorities undoubtedly opposed releasing the quintuple stellas to collectors at the time of striking, all five examples eventually reached the numismatic marketplace.

The manner in which the coins became available to collectors is not known, but prominent dealer H.P. Smith handled the lion's share of examples sold in the 19th century. In addition to handling the discovery coin twice, his New York Coin & Stamp firm offered the only other specimen of the quintuple stella to appear at auction in the 19th century in their Robert Coulton Davis auction in 1890. After his death, the Chapman brothers auctioned his collection and found another specimen in his holdings. He certainly had a strong affinity for this ultra-rare pattern issue.

By the early 20th century, all five quintuple stellas found homes in tightly held, long-term collections. The discovery coin became a highlight of the famous Garrett Collection and the coin from H.P. Smith's holdings eventually passed to the celebrated collection of Louis E. Eliasberg. The other three coins, including the specimen offered here, were all acquired by super-collector Virgil Brand at an early date. The coins remained in these high-profile collections for extended periods and, even when those collections were dispersed, public offerings were few and far between over the years. As might be expected, any offering of an 1879 quintuple stella represents an important opportunity for advanced collectors and is widely reported in the numismatic press.

John Dannreuther notes that collecting the four dollar stellas has become extremely popular with collectors in recent years. The 1879 quintuple stella would be a natural complement to an advanced collection of four dollar stellas. With only five examples known, it would be the rarest piece and a marvelous capstone to such a collection. We believe the quintuple stella is underpriced and long overdue for a breakout in the present market. We would not be surprised to see a record price realized set when the present coin crosses the auction block.

The Present Coin
The coin offered here surfaced in the vast holdings of Virgil Brand, who formed one of the largest and most valuable coin collections of all time. Like some other elite collectors (Ed Trompeter and Bob Simpson), Brand owned more than one example of this iconic rarity. According to his records, Brand acquired one example from dealer Charles Steigerwalt in 1894 and two others from Stephen Nagy in 1907. Unfortunately, the records are not clear about the pedigrees of the three coins, and we have not been able to determine which source this coin came from. The collection, which numbered more than 350,000 pieces, was split between his heirs in a contentious process and his holdings were not completely dispersed for more than fifty years, further obscuring the early history of this coin.

The next appearance of this remarkable specimen was in the Amon Carter Family Collection, which was auctioned by Stack's in January 1984. Amon Carter, Sr. was a Texas oilman who also published the Fort Worth Star-Telegram newspaper and was a co-founder of American Airlines. He began collecting coins in the 1930s and was a favored customer of Fort Worth coin dealer B. Max Mehl. His collection passed to his son, Amon Carter, Jr., after his death. Amon Carter, Jr. preserved and added to the collection until his death in 1982, but his focus was mainly on foreign coins and paper currency. The 1879 quintuple stella was described in lot 635 of the Stack's catalog as "A simply beautiful specimen." It sold for a strong price of $93,500.

The next owner of this magnificent Choice specimen was renowned proof gold specialist Ed Trompeter. Trompeter formed an unparalleled collection that included every proof gold coin in the Guide Book except the 1858 Liberty double eagle. Trompeter also owned the PR63 Cameo 1879 quintuple stella from the Garrett Collection (the discovery coin), but he preferred this specimen and sold the Garrett coin after he acquired this piece. This coin was sold in lot 138 of the Ed Trompeter Collection, Part I (Superior, 2/1992), where it was acquired by Heritage Auctions for $187,000. Ed Trompeter passed away less than a month after the auction.

The 1879 quintuple stella soon passed to Bob R. Simpson, another Texas oilman and co-owner of the Texas Rangers baseball team. Simpson formed an amazing collection of all types of U.S. coinage that has been sold in a series of blockbuster auctions by Heritage in recent years. Earlier, Simpson sold this 1879 quintuple stella in lot 377 of Legend Numismatics' Regency Auction (5/2016), where it realized a record price of $1,880,000. Heritage executives Greg Rohan and Todd Imhof were instrumental in placing this coin with the present consignor. It has been off the market for the last nine years.

Physical Description
The coin offered here is a spectacular Choice proof, with profound field-device contrast. The richly frosted design elements are sharply detailed, outside of some softness on the centers of the first four obverse stars. The well-preserved orange-gold surfaces include deeply mirrored fields that show a few minor hairlines that are only visible at certain angles. A few tiny lintmarks are evident at UN of UNITED on the reverse and a small planchet flaw is located below .5 in 3.5 in the obverse legend. Overall eye appeal is terrific. This coin is the second-finest certified example of this landmark pattern rarity, making this lot an important opportunity for advanced pattern collectors and Registry Set enthusiasts. The 1879 quintuple stella is listed among the 100 Greatest U.S. Coins. This coin is pictured on PCGS CoinFacts. Population: 2 in 64 (1 in 64+) Deep Cameo, 0 finer (4/25).

Roster of 1879 Quintuple Stellas, Judd-1643
This roster is based on the listing in USPatterns.com. Grades are per the last auction appearance, unless a subsequent certification event is known.
1. PR64+ Deep Cameo PCGS. Virgil M. Brand; unknown intermediaries; Fred Olsen Collection (B. Max Mehl, 11/1944), lot 624; Dr. John E. Wilkison Collection; purchased privately by Paramount International Coin Corporation in 1973; A-Mark; Metropolitan New York Sale (New England Rare Coin Auctions, 4/1980), lot 391; 65th Anniversary Auction (Stack's, 10/2000), lot 1626; Southern Collection; Bob R. Simpson Collection. Illustrated on USPatterns.com and in the Encyclopedia of U.S. Gold Coins: 1795-1933 by Jeff Garrett and Ron Guth.
2. PR64 Deep Cameo PCGS. Virgil M. Brand; unknown intermediaries; Amon Carter, Sr.; Amon Carter, Jr., Carter Family Collection (Stack's, 1/1984), lot 635; Ed Trompeter; Trompeter Collection (Superior, 2/1992), lot 138; Heritage inventory (2/1999); Bob R. Simpson; Regency Auction (Legend Numismatics, 5/2016), lot 377, realized $1,880,000; the present consignor, via Greg Rohan and Todd Imhof. The present coin.
3. PR64 Cameo PCGS. Harlan Page Smith Collection (S.H. & H. Chapman, 5/1906), lot 1444; John Story Jenks Collection (Henry Chapman, 11/1921), lot 5680; Elmer Sears (possibly as agent for the next): John H. Clapp; Clapp Estate; Louis E. Eliasberg, Sr. in 1942, via Stack's; Eliasberg Estate; Eliasberg Collection, Part I (Bowers and Merena, 5/1996), lot 313; Chicago Rarities Night Sale (Bowers and Merena, 4/2008), lot 734.
4. PR63 Cameo PCGS. United States Mint; Dr. William Wheeler Hubbell; John W. Haseltine; "Type Table" Catalog (John W. Haseltine, 11/1881), lot 1490; Hebbeard Collection (Harlan Page Smith, 4/1883), lot 458; Dr. Edward Maris Collection (Harlan Page Smith, 6/1886), lot 230; T. Harrison Garrett; Robert and John Work Garrett, by bequest in 1888; John Work Garrett bought out or traded for his brother's interest in the collection circa 1919; Garrett Estate; Johns Hopkins University, by bequest; Garrett Collection, Part II (Bowers and Ruddy, 3/1980), lot 1097; Ed Trompeter; Moreira Collection (Superior, 1/1989), lot 4026; FUN Signature (Heritage, 1/2007), lot 1594, realized $862,500; FUN Signature (Heritage, 1/2022), lot 4793.
5. Proof (Uncertified). Virgil M. Brand; unknown intermediaries; Adolphe Menjou Collection (Numismatic Gallery, 6/1950), lot 1818; King Farouk; Palace Collections of Egypt (Sotheby's, 2/1954), lot 294; ANA Convention Auction (Abe Kosoff, 8/1958), lot 1676; Auction '79 (Stack's, 7/1979), lot 950; Stack's; gifted to the National Numismatic Collection at the Smithsonian Institution.

Additional Appearances
A. Waldo Newcomer; "Colonel" E.H.R. Green; offered by B.G. Johnson to F.C.C. Boyd in a January 1944 invoice for $1,250. Probably the coin in number 5 above, but not confirmed.
B. Charles Steigerwalt; purchased by Virgil Brand in 1894 for $100, Brand journal number 12582; Armin Brand; sold to B.G. Johnson on 12/1/1937. Possibly the coin in number 1, 2, or 5 above.
C. Robert Coulton Davis Collection (New York Coin & Stamp, 1/1890), lot 1127. Possibly the coin in number 3 or B above.
D. Stephen Nagy; purchased by Virgil Brand in 1907 for $150, Brand journal number 38942. Possibly the coin in number 1, 2, or 5 above.
E. Stephen Nagy; purchased by Virgil Brand in 1907 for $150; Brand journal number 38943. Possibly the coin in number 1, 2, or 5 above.
Note: One of the coins in D or E above went to Horace Brand and the other was no longer in the collection when the brothers split their inheritance.
From The Costa Family Collection, Part I.

Coin Index Numbers: (PCGS# 537318, Greysheet# 373253)

View all of [The Costa Family Collection, Part I ]

View Certification Details from PCGS