In the annals of American numismatics, one coin stands apart as a bold experiment: the $4 Stella. Minted only in 1879 and 1880, the Stella was never officially adopted, yet remains the sole U.S. $4 gold coin ever proposed.
This article delves deep into its origins, design, composition, circulation, rarity, and enduring legacy. You’ll discover why the Stella is a collector’s treasure and a fascinating “what‑if” in U.S. monetary history.
Origins: Why the Stella Was Proposed
In the late 19th century, European countries participating in the Latin Monetary Union (LMU)—notably France and Switzerland—standardized on gold coins like the 20‑franc Napoleon.
These coins weighed about 6.45 grams and circulated widely across borders. Americans, particularly travelers and merchants, found it difficult to exchange U.S. gold coins abroad.
John A. Kasson, U.S. Minister to Austria-Hungary and former chair of the House Committee on Coinage, proposed a new denomination: a $4 gold coin that matched the weight and alloy of European coins.
His vision was clear: facilitate U.S. commerce overseas and align America with the LMU standard.
Design & Composition
Two design proposals were crafted, both dated 1879 yet struck in limited quantities into 1880:
- Flowing Hair: Designed by Charles E. Barber, featuring Liberty with flowing hair.
- Coiled Hair: Designed by George T. Morgan, portraying Liberty with coiled hair.
Metallurgy
- Total weight: 7 grams, diameter approximately 22 mm
- Alloy: .857 fine—6 g gold, 0.3 g silver, 0.7 g copper—closely following LMU metrics
However, pattern coins were actually struck in the standard U.S. alloy of 90% gold / 10% copper, using half‑eagle planchets trimmed down.
Minting & Distribution
- Proof Flowing Hair: Approximately 425 struck (some estimates say up to 800)
- Proof Coiled Hair: Produced in much smaller numbers—likely fewer than 25
Minted at the Philadelphia Mint in 1879 and 1880 (all coins dated 1879), these pieces were mainly samples:
- Around 25 initial Proof sets were distributed to Congress in 1879, though total pieces may have reached 800.
- Additional coins were struck in 1880 with the 1879 date due to growing congressional interest and were sold at production cost.
Despite their popularity, Congress rejected adoption, and the Stella never entered circulation.
Rarity & Survival
The Stella was produced in extremely limited numbers:
| Type | Year(s) Dated | Estimated Mintage | Known Surviving Examples |
|---|---|---|---|
| Flowing Hair | 1879 | 425–800 | Majority of surviving examples |
| Coiled Hair | 1879 | Fewer than 25 | Nearly all extremely rare |
| Flowing Hair (restrikes) | 1880 (dated 1879) | Included above | Included in Flowing Hair totals |
Many coins show signs of heavy usage. Some were worn as jewelry, reportedly seen in brothels around Washington, D.C. Others remained in pristine condition, coveted by collectors and museum curators alike.
Market Value & Notable Sales
Today’s collectors prize the Stella, with high-grade pieces fetching eye-popping prices:
- Prices for Flowing Hair proofs range from $72,000 to $461,000, with Deep Cameo specimens reaching $864,000.
- Coiled Hair proofs can range from $156,000 to over $2.3 million, with some examples topping $3.1 million.
- In March 2018, a PCGS PR‑68 Ultra Cameo Flowing Hair Stella sold for $411,250, while a PR‑67 Cameo version reached $384,000.
Broader Context: The Stella Family
Though the term “Stella” commonly refers to the $4 gold coin, other pattern pieces exist:
- Quintuple Stella ($20): Five gold examples were struck in 1879 using the Liberty Head design and goloid alloy inscriptions.
- Additional patterns in copper and aluminum exist for experimental study and are even rarer.
Why the Stella Matters
- The Stella is an iconic numismatic “what-if”, illustrating U.S. ambitions to integrate into global commerce.
- It is a composite example of political effort, technical innovation (goloid alloy), and artistic experimentation.
- It holds a central place in advanced coin collections and U.S. monetary history.
Legacy & Cultural Footprint
Although never mass‑minted, the Stella has influenced coin collectors and U.S. coinage design:
- It is highly documented in coin catalogs and scholarly publications.
- The Latin inscriptions and bold reverse design reflect 19th‑century aspirations for international currency compatibility.
- Reports of Stella coins being worn in brothels add a layer of folklore and intrigue.
The Stella at a Glance
| Attribute | Details |
|---|---|
| Denomination | $4 “Stella” |
| Years struck | 1879–1880 (all dated 1879) |
| Total mintage | Approx. 425–800 (Flowing Hair); <25 (Coiled Hair) |
| Diameter | ≈ 22 mm |
| Weight | 7 grams |
| Alloy | .857 fine (goloid pattern), struck in 90/10 gold |
| Obverse designs | Flowing Hair (Barber); Coiled Hair (Morgan) |
| Reverse | Star, ONE STELLA, 400 CENTS, “FOUR DOL.” |
| Mottoes | E PLURIBUS UNUM; DEO EST GLORIA |
| Purpose | Facilitate trade with LMU countries |
| Legal status | Pattern—never circulated, rejected by Congress |
| Notable sales | PR‑68 Ultra Cameo Flowing Hair – $411,250 (2018) |
| Collector value | $72K–$3.1M+ depending on type and condition |
The 1879–1880 Stella represents a bold chapter in American coinage—a rare and beautiful pattern that bridged practical commerce, craftsmanship, and legislative ambition.
With just hundreds ever struck, it remains the only U.S. $4 gold coin ever proposed, and today it holds a unique place in numismatic lore.
Its Latin inscriptions, star motif, and dual designs by Barber and Morgan add to its mystique. While Congress ultimately chose to uphold the traditional decimal system, the Stella continues to shine—an enduring emblem of creative ambition in America’s monetary history.
FAQs
Q1: Is the Stella a legal coin?
Yes—it was legally struck by the U.S. Mint as a pattern coin, making it a recognized, though non‑circulating, form of legal tender.
Q2: How many Stellas still exist?
Approximately 425–800 Flowing Hair pieces survive, along with fewer than 25 Coiled Hair examples. Exact numbers vary by research source and condition.
Q3: Why doesn’t the U.S. today make a $4 coin?
The Stella was rejected by Congress in the 1880s. The U.S. has traditionally adhered to a decimal system (nickels, dimes, quarters), making a $4 denomination unnecessary and impractical.