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- 1849 G$1 Open Wreath With L MS64 NGC. CAC. Dannreuther-2. Ex: "Col." E.H.R. Green. The concave, slightly basined or dished fields attribute this variety. Also, stars 3, 11, and 12 are noticeably repunched. Of the more than 688,000-piece mintage of 1849 Open Wreath gold dollars (both Without and With L), Bowers (2011) estimates that 20,000 are of the Dannreuther-2 or 3 variety. The lustrous surfaces of this near-Gem display yellow-gold patination laced with hints of light green. The design features are sharply impressed, including the individual strands of Liberty's hair, the star centers, and the leaf veins on the reverse wreath. Both sides are devoid of significant marks. Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp & Coin Co.; Eric P. Newman @ $10.00; Eric P. Newman Numismatic Education Society. Realized $2585.00. Description courtesy of Heritage Auctions.
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- 1849 G$1 Open Wreath MS62 NGC. CAC. Breen-6004. Ex: "Col." E.H.R. Green. Near stars, thin date numerals. Original butter-gold toning drapes this satiny and fully struck dollar. The reverse is well preserved, and the obverse field displays wispy grazes. Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp & Coin Co.; Eric P. Newman @ $10.00; Eric P. Newman Numismatic Education Society. Realized $793.13. Description courtesy of Heritage Auctions.
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- 1849 G$1 Open Wreath MS62 NGC. CAC. Breen-6004. Ex: "Col." E.H.R. Green. Near stars, thin date numerals. Original butter-gold toning drapes this satiny and fully struck dollar. The reverse is well preserved, and the obverse field displays wispy grazes. Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp & Coin Co.; Eric P. Newman @ $10.00; Eric P. Newman Numismatic Education Society. Realized $793.13. Description courtesy of Heritage Auctions.
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- 1849 G$1 No L MS63 NGC. CAC. Ex: "Col." E.H.R. Green. Mintage estimates of the 1849 No L gold dollar range from 1,000+ (Garrett and Guth) to 10,000 or more (Bowers). Regardless of which production figure is taken as correct, most extant examples are in mint condition, since many were saved for their novelty as the first year of the new denomination. This date is available through near-Gem. Gems are very challenging and higher-grade specimens are exceedingly rare. The present Select offering displays pleasing luster on yellow-gold surfaces that are imbued with traces of apricot. The design elements are sharply struck throughout, and neither side reveals significant contact marks, a significant point for this MS63 that yields above-average eye appeal. Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp & Coin Co.; Eric P. Newman @ $50.00; Eric P. Newman Numismatic Education Society. Realized $1351.25. Description courtesy of Heritage Auctions.
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- 1849 G$1 No L MS63 NGC. CAC. Ex: "Col." E.H.R. Green. Mintage estimates of the 1849 No L gold dollar range from 1,000+ (Garrett and Guth) to 10,000 or more (Bowers). Regardless of which production figure is taken as correct, most extant examples are in mint condition, since many were saved for their novelty as the first year of the new denomination. This date is available through near-Gem. Gems are very challenging and higher-grade specimens are exceedingly rare. The present Select offering displays pleasing luster on yellow-gold surfaces that are imbued with traces of apricot. The design elements are sharply struck throughout, and neither side reveals significant contact marks, a significant point for this MS63 that yields above-average eye appeal. Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp & Coin Co.; Eric P. Newman @ $50.00; Eric P. Newman Numismatic Education Society. Realized $1351.25. Description courtesy of Heritage Auctions.
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- 1879 $4 Flowing Hair, Judd-1635, Pollock-1832, R.6, PR65 NGC. Original Composition 85% Gold, 10% Copper, 5% Silver. The 1879 and 1880 four dollar stellas are among the most interesting and enigmatic of all pattern issues, about which much has been written but seemingly little is incontrovertibly known. The origin of the stella is more clearly understood than the coin itself. John A. Kasson, the Minister of the United States in Vienna in the late 1870s and a former Chairman of the Committee of Coinage, Weights, and Measures, collaborated with the Secretary of the Treasury, John Sherman, to seek Congressional approval of an international gold coin based on the metric system -- one that would circulate interchangeably with several other foreign gold pieces based on its metric alloy composition. Dr. Wheeler W. Hubbell of Pennsylvania, who had patented goloid metal and was a staunch advocate of the metric system, devised the composition details. The earliest appearance of an original stella at auction took place in a sale by S.K. Harzfeld, who is best known for his outspoken criticism of corrupt practices at the U.S. Mint. His June 30, 1880 sale included an original proof set consisting of an 1879 stella, a goloid Metric dollar, and a silver Metric dollar. He wrote: {blockquote}"THE NEW METRIC SET. PROPOSED FOR COINAGE. This is one of the original 15 sets, submitted to Congress. As to the value, I need only say that a gentleman at Washington refused, some time ago, $100 for one of these original sets. The pieces will be sold separately, without reserve, to the highest bidder; but should there be a fair bid for the lot, when the first piece is put up, the right is reserved to sell the three pieces as a set. The pieces are the more desirable, as there is not the least doubt that they will not be accepted for our coinage. "The adoption of the Gold piece instead of improving our coinage would be a decidedly retrograde movement. Not merely that, for the old design of the United States coinage some 75 years ago, was more beautiful and more practical for the purposes of circulation."{/blockquote} Harzfeld saved his most scathing words, however, for the goloid and silver dollars that accompanied the stella in the set. {blockquote}"All we want is a Silver dollar, worth 100 cents, instead of 90 cents, as at present; with a chaste head of Liberty on the obverse, and a genuine looking eagle on reverse, instead of the present frightened-looking bird, with clipped wings and pulled feathers."{/blockquote} While the current coin is likely not the exact stella described in Harzfeld's set, it is one of the original 15 proofs struck. Eric P. Newman purchased the present coin in 1944 from the "Colonel" Green Collection in partnership with prominent St. Louis coin dealer, B.G. Johnson. The primary kraft envelope used to house the coin states, "1879 U.S. $4 Gold Stella. Flowing Hair. Brilliant perfect Proof (6/13/44 Johnson). A second envelope indicates "1879 U.S. Pattern in Gold / Original not restrike. Perfect Proof." It is the proper weight. This coin weighs 108.5 grains. The metric alloy indicated on the stella calls for: {blockquote} 6 grams of gold = 92.57 grains (85.7%) .3 grams of silver = 4.63 grains (4.3%) .7 grams of copper = 10.80 grains (10.0%) Total: 108 grains{/blockquote} A hand-written note accompanying the coin says, "108� grains / Original. Rarity 6 / Restrikes weigh 103 gr / (and) are Rarity 2 / See Judd." We now know restrikes can range in weight from 103 grains to 109 grains, so it is not possible to tell originals from restrikes solely by the weight. However, originals, such as the present coin, are of the proper weight of 108 to 109 grains. This coin was tested by NGC and determined to be of Original Composition 85% Au, 10% Cu, 5% Ag - one of two coins tested to date that are closely aligned to the Mint's stated composition for the metric alloy (8/14). In addition to the proper weight and composition, this piece corresponds with the correct physical appearance for an original-strike stella. At one time it was thought that the presence or absence of planchet striations (or roller marks) was an indicator of original proofs. Current thinking is that all proof stellas show roller marks to one extent or another. The Mint was experimenting with a new alloy and planchet thickness for the stella, which must have required adjustments both in planchet preparation and spacing of the dies. This historic, Gem proof coin shows light roller marks on Liberty's hairline and portrait, although the fields show little evidence of the parallel striations. The silver content of this proof contributes to the attractive green-gold coloration, with reflective fields and frosted devices. The strike is bold except for the highest hair strands. This coin has been in private hands and unavailable for public sale for at least the past 70 years. As only 15 were ever minted, opportunities to purchase one at auction are extremely limited. Our thanks to John Dannreuther, Saul Teichman, and Chris Pilliod for their contributions regarding the current stella research and composition testing. Ex: Eric P. Newman Numismatic Education Society. Realized $182125.00. Description courtesy of Heritage Auctions.
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- 1879 $4 Flowing Hair, Judd-1635, Pollock-1832, R.6, PR65 NGC. Original Composition 85% Gold, 10% Copper, 5% Silver. The 1879 and 1880 four dollar stellas are among the most interesting and enigmatic of all pattern issues, about which much has been written but seemingly little is incontrovertibly known. The origin of the stella is more clearly understood than the coin itself. John A. Kasson, the Minister of the United States in Vienna in the late 1870s and a former Chairman of the Committee of Coinage, Weights, and Measures, collaborated with the Secretary of the Treasury, John Sherman, to seek Congressional approval of an international gold coin based on the metric system -- one that would circulate interchangeably with several other foreign gold pieces based on its metric alloy composition. Dr. Wheeler W. Hubbell of Pennsylvania, who had patented goloid metal and was a staunch advocate of the metric system, devised the composition details. The earliest appearance of an original stella at auction took place in a sale by S.K. Harzfeld, who is best known for his outspoken criticism of corrupt practices at the U.S. Mint. His June 30, 1880 sale included an original proof set consisting of an 1879 stella, a goloid Metric dollar, and a silver Metric dollar. He wrote: {blockquote}"THE NEW METRIC SET. PROPOSED FOR COINAGE. This is one of the original 15 sets, submitted to Congress. As to the value, I need only say that a gentleman at Washington refused, some time ago, $100 for one of these original sets. The pieces will be sold separately, without reserve, to the highest bidder; but should there be a fair bid for the lot, when the first piece is put up, the right is reserved to sell the three pieces as a set. The pieces are the more desirable, as there is not the least doubt that they will not be accepted for our coinage. "The adoption of the Gold piece instead of improving our coinage would be a decidedly retrograde movement. Not merely that, for the old design of the United States coinage some 75 years ago, was more beautiful and more practical for the purposes of circulation."{/blockquote} Harzfeld saved his most scathing words, however, for the goloid and silver dollars that accompanied the stella in the set. {blockquote}"All we want is a Silver dollar, worth 100 cents, instead of 90 cents, as at present; with a chaste head of Liberty on the obverse, and a genuine looking eagle on reverse, instead of the present frightened-looking bird, with clipped wings and pulled feathers."{/blockquote} While the current coin is likely not the exact stella described in Harzfeld's set, it is one of the original 15 proofs struck. Eric P. Newman purchased the present coin in 1944 from the "Colonel" Green Collection in partnership with prominent St. Louis coin dealer, B.G. Johnson. The primary kraft envelope used to house the coin states, "1879 U.S. $4 Gold Stella. Flowing Hair. Brilliant perfect Proof (6/13/44 Johnson). A second envelope indicates "1879 U.S. Pattern in Gold / Original not restrike. Perfect Proof." It is the proper weight. This coin weighs 108.5 grains. The metric alloy indicated on the stella calls for: {blockquote} 6 grams of gold = 92.57 grains (85.7%) .3 grams of silver = 4.63 grains (4.3%) .7 grams of copper = 10.80 grains (10.0%) Total: 108 grains{/blockquote} A hand-written note accompanying the coin says, "108� grains / Original. Rarity 6 / Restrikes weigh 103 gr / (and) are Rarity 2 / See Judd." We now know restrikes can range in weight from 103 grains to 109 grains, so it is not possible to tell originals from restrikes solely by the weight. However, originals, such as the present coin, are of the proper weight of 108 to 109 grains. This coin was tested by NGC and determined to be of Original Composition 85% Au, 10% Cu, 5% Ag - one of two coins tested to date that are closely aligned to the Mint's stated composition for the metric alloy (8/14). In addition to the proper weight and composition, this piece corresponds with the correct physical appearance for an original-strike stella. At one time it was thought that the presence or absence of planchet striations (or roller marks) was an indicator of original proofs. Current thinking is that all proof stellas show roller marks to one extent or another. The Mint was experimenting with a new alloy and planchet thickness for the stella, which must have required adjustments both in planchet preparation and spacing of the dies. This historic, Gem proof coin shows light roller marks on Liberty's hairline and portrait, although the fields show little evidence of the parallel striations. The silver content of this proof contributes to the attractive green-gold coloration, with reflective fields and frosted devices. The strike is bold except for the highest hair strands. This coin has been in private hands and unavailable for public sale for at least the past 70 years. As only 15 were ever minted, opportunities to purchase one at auction are extremely limited. Our thanks to John Dannreuther, Saul Teichman, and Chris Pilliod for their contributions regarding the current stella research and composition testing. Ex: Eric P. Newman Numismatic Education Society. Realized $182125.00. Description courtesy of Heritage Auctions.
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- 1868 $20 Twenty Dollar, Judd-665, Pollock-740, Low R.7, PR65 Cameo NGC. A gleaming Gem proof example of this largest and most impressive double eagle pattern from the 1868 aluminum proof set, struck in aluminum with a reeded edge from the regular-issue dies for the year. Even though a Cameo designation is lacking, much contrast between fields and devices is evident on the appealing, problem-free surfaces. It appears that most of the 1868 aluminum proof sets were either sold to collectors or provided to well-connected individuals. There are four documented complete or formerly complete aluminum sets, including the Garrett set, which we handled in our FUN Signature in January 2013, realizing $211,500; the present Hugh McCulloch-Eric P. Newman set, now being sold separately; the William Fewsmith-Waldo Newcomer set, still intact; and the set that was in Linderman's estate after his death in 1879. The Lyman Low 1887 sale of that set by Linderman's widow was halted by government officials, and the 1868 aluminum coins (along with some other off-metal patterns, later returned) were confiscated and reportedly destroyed. The collections of Matthew Stickney (Henry Chapman, 6/1907) and George Woodside (New York Coin & Stamp, 4/1892) may represent portions of other 1868 aluminum proof sets that were complete or substantially complete at one time, but have long since been broken up. Apparently, a few individual pieces of each denomination were struck outside of the complete sets. Part of a complete 16-piece aluminum proof set. Ex: Treasury Secretary Hugh McCulloch (circa 1868); McCulloch family; Eric Newman; Eric P. Newman Numismatic Education Society. Realized $25850.00. Description courtesy of Heritage Auctions.
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- 1868 $20 Twenty Dollar, Judd-665, Pollock-740, Low R.7, PR65 Cameo NGC. A gleaming Gem proof example of this largest and most impressive double eagle pattern from the 1868 aluminum proof set, struck in aluminum with a reeded edge from the regular-issue dies for the year. Even though a Cameo designation is lacking, much contrast between fields and devices is evident on the appealing, problem-free surfaces. It appears that most of the 1868 aluminum proof sets were either sold to collectors or provided to well-connected individuals. There are four documented complete or formerly complete aluminum sets, including the Garrett set, which we handled in our FUN Signature in January 2013, realizing $211,500; the present Hugh McCulloch-Eric P. Newman set, now being sold separately; the William Fewsmith-Waldo Newcomer set, still intact; and the set that was in Linderman's estate after his death in 1879. The Lyman Low 1887 sale of that set by Linderman's widow was halted by government officials, and the 1868 aluminum coins (along with some other off-metal patterns, later returned) were confiscated and reportedly destroyed. The collections of Matthew Stickney (Henry Chapman, 6/1907) and George Woodside (New York Coin & Stamp, 4/1892) may represent portions of other 1868 aluminum proof sets that were complete or substantially complete at one time, but have long since been broken up. Apparently, a few individual pieces of each denomination were struck outside of the complete sets. Part of a complete 16-piece aluminum proof set. Ex: Treasury Secretary Hugh McCulloch (circa 1868); McCulloch family; Eric Newman; Eric P. Newman Numismatic Education Society. Realized $25850.00. Description courtesy of Heritage Auctions.
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- 1868 $10 Ten Dollar, Judd-664, Pollock-739, Low R.7, PR64+ Cameo NGC. CAC. This Liberty Head eagle pattern is an off-metal strike in aluminum with a reeded edge from the regular-issue dies for the year. It is both ironic and serendipitous that two of the largest coins in the complete 16-piece aluminum set, the eagle and double eagle, are among the best-preserved pieces therein as well. The eagle is likely among the rarest of the 1868 aluminum patterns as well, given that NGC and PCGS show only seven grading events between them, including likely duplicates. This piece is characterized by a bold strike over well-preserved surfaces that show much contrast between the field and devices, approaching a Cameo designation. A PR65 PCGS-certified example of this issue appeared in American Numismatic Rarities' January 2006 auction as lot 941, where it brought $13,225. We handled the same piece twice in 2011, where it realized $14,950 in each appearance. Part of a complete 16-piece aluminum proof set. Ex: Treasury Secretary Hugh McCulloch (circa 1868); McCulloch family; Eric Newman; Eric P. Newman Numismatic Education Society. Realized $11750.00. Description courtesy of Heritage Auctions.
