Local Dealer Brokers Sale OfRare Coin

Eastern Numismatics Inc., of Garden City, recently completed the sale of one of 17 known 1880 Four-Dollar Gold "Stella" coins. The coin was purchased by Eastern Numismatics for more than $500,000 on behalf of a client, a record price for a coin of this type.

"This was a tremendous opportunity and we are very pleased that we were able to acquire this coin on behalf of our client. This is a rare but very well known coin with a somewhat infamous history. It is said that the original proofs where given to several members of Congress in Washington. A number of these coins found their way into the possession of 'mistresses' of prominent politicians. In some instances they were made into jewelry," said Joseph Parrella, Vice President of Eastern Numismatics Inc.

The 1880 Four-Dollar Gold "Stella" coins were produced in a limited run so that members of Congress could review them and decide if they would be used in an effort to help facilitate international trade and travel by Americans. The coin was designed by Chief Engraver Charles E. Barber and depicts a portrait of Liberty facing left with long flowing hair. The brilliant gold coin weighs approximately .857 ounces.

"Investing and collecting coins can reap tremendous rewards, however there are also risks. For this reason we consult closely with our clients and carefully analyze all coins before we make any purchasing recommendations. 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," said Eugene Parrella, President of Eastern Numismatics, Inc.