LOT Heritage Rare Coin Galleries  /  2006 October Dallas Signature Coin Auction #428  / 

2688

1879 $4 Flowing Hair, Judd-1635, Pollock-1832, R.3, or

Currency:USD Category:Coins & Paper Money / US Coins Start Price:1,100.00 USD Estimated At:1.00 - 1,000,000.00 USD
1879 $4 Flowing Hair, Judd-1635, Pollock-1832, R.3, or
<B>1879<$4> Flowing Hair, Judd-1635, Pollock-1832, R.6, or 1833, R.3, PR64 PCGS.</B></I> The two Pollock numbers assigned to the 1879 Flowing Hair stella represent the belief that examples were coined in two different compositions, either standard or metric alloy. We have visited this issue in the past, and it is our position that all of the four-dollar gold pieces were coined in the standard coinage alloy of 90% gold and 10% copper. To produce these pieces, a strip of planchet stock for half eagles was rolled slightly thinner and planchets were punched with the standard flan cutter that was then in use for three-dollar gold pieces. Technicians at the Mint would have easily calculated the exact thickness of the planchet stock to create this denomination. Using the rolling mills and drawing bench, this exact thickness was obtained, but the process left parallel grooves or striae in the strip.<BR> The coinage dies had the head of Liberty and the star more deeply cut than all other details. When the coins were struck, these deepest crevices did not fully strike up, and the rolling marks remained visible. The present example has these striations clearly evident on both sides. To the best of our knowledge, there are no examples known that have no trace of these grooves. On some of the best struck examples, the striae are nearly invisible, but close examination will usually show some trace. The existence of these rolling marks clearly proves that these pieces are struck on 90% gold stock.<BR> In addition to the remarkably clear rolling marks, this piece has attractive light yellow-gold color with fully mirrored fields and lustrous devices. It is housed in an older green-label holder, used by PCGS prior to the addition of cameo and deep cameo designations. We believe that this piece should warrant a cameo designation. A few faint hairlines and other insignificant abrasions keep it out of the Gem class, but it is a highly appealing and desirable example.
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