<strong>Obv:</strong> George T. Morgans design for the four-dollar Stella with a head of Liberty facing left. Liberty is wearing a ribbon inscribed LIBERTY, and her hair is braided and coiled at the back of her head. The inscription * 6 * G * .3 * S * .7 * C * 7 * G * R * A * M * S * is around the border and the date 1880 is below. <strong>Rev:</strong> The same as that used to produce the Flowing Hair four-dollar Stellas, described above in our offering of an example of that type. This is a significant survivor of an exceedingly rare pattern issue, one of no more than 10 distinct specimens known. Boldly defined throughout. The surfaces are a bit bright due to the stated qualifier, with hairlines to the obverse portrait also noted for accuracy, although they are not readily evident at all viewing angles. Even yellow gold patina on both sides supports glints of copper-rose iridescence on a few of the peripheral devices. The high regard in which Stellas as a group are held by advanced collectors, combined with the rarity of the 1880 Coiled Hair pieces, establishes this coin as not only a highlight of the Griggs Collection, but one of our most significant recent gold offerings.The Coiled Hair type designed by George T. Morgan is the "other" Stella, less well known among casual collectors than the Flowing Hair motif of Charles E. Barber, but no less popular with specialists. This disparity in recognition is due to the relatively plentiful nature of the 1879 Flowing Hair issue in todays market. Several hundred 1879 Flowing Hair Stellas are known and auction appearances occur on a fairly regular basis in the numismatic market of the 21st century. In stark contrast, the 1879 Coiled Hair, 1880 Flowing Hair and 1880 Coiled Hair are all major rarities. The 1880 Coiled Hair, offered here, is the rarest in this group, barely edging out its 1879-dated counterpart for this distinction. Of the estimated 12 to 15 specimens produced, no more than 10 are believed extant, one of which (the Lilly specimen) is permanently impounded in the Smithsonian Institution as part of the National Numismatic Collection.Unlike the 1879 Flowing Hair coins, which were produced to the extent of several hundred examples for distribution to Congressional and other national leaders, the 1880 Coiled Hair Stellas were created primarily for inclusion in the Mints goloid pattern sets of that year. An alloy of gold, silver and copper, goloid was patented by Dr. Wheeler Hubbell and was intended to make the silver dollar smaller and lighter, and also for production of the proposed four-dollar gold coin. Only a dozen or so such sets comprising goloid and silver coins were produced in 1880, with an additional 12 sets featuring the same types in copper, and four or five sets in aluminum. Each goloid/silver set included an example of the Coiled Hair Stella, and even if we allow for the possible distribution of a few additional specimens as singles, the total mintage for this issue is thought to be only 12 to 15 coins. The website uspatterns.com lists nine distinct survivors, including the Lilly/Smithsonian Institution coin and the present example from the "Dallas Bank" and Griggs collections. This legendary rarity ranks among the most desirable of all United States Mint gold coins and the acquisition of this 1880 Coiled Hair Stella will establish its new owner as a collector par excellence in the world of numismatics.
