Friday, 16th May 2008 (659 views)

A mystery client has paid a record $500,000 (£250,000) for a rare four-dollar gold Stella coin, a report says.

According to Garden City News, local dealer Eastern Numismatics (EN) described the coin as one of an "infamous" set of 17.

Minted in 1880 as prototypes for Congress, many were allegedly presented by Washington politicians to their mistresses, some being made into items of jewellery, the article said.

Weighing about .857 ounces, the gold coin was designed by chief engraver Charles E Barber and show a portrait of a left-facing Liberty with long flowing hair.

President of Eastern Numismatics Eugene Parrella told the journal: "The quality of a coin, particularly its appearance, plays an important part in determining its value.

"The Stella coin that we found for our client was exceptional."

Meanwhile an 1880 four-dollar Stella, showing Liberty with coiled hair, believed to be one of only eight in the world, has been acquired by Lear Financial to complete a set of four worth $6.5 million.

 

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