Few coins throughout history have met with more scandal than the $4 U.S. Stella coin. Before we get into that, though, here’s a bit of background on this rare, collectible coin.
History of the Stella
In 1879 and 1880, the U.S. Mint produced the $4 Stella coin in an effort to join the Latin Monetary Union (LMU). Under this arrangement, comparable coins from France, Switzerland and other European nations could be exchanged freely, as they had the same or similar metallic compositions. Because the value of the coins was still tied to the value of precious metals, exchanging foreign currency was much more streamlined than it is today, when exchange rates depend on the fluctuations of the global economy.
Unfortunately, Congress rejected the idea of joining the LMU, so only the pattern coins were ever produced; the Stella never actually made it into circulation. Because of this, only a small amount of these coins were produced, making them exceedingly rare and enabling them to fetch prices of up to half a million dollars on the coin trading market.
The Appearance of the Coin
Two different patterns were created for the Stella: the flowing hair version and the coiled hair variety. The flowing hair coin is slightly more common and features Lady Liberty with her long hair cascading loosely. In the coiled hair version, she is a bit more composed, with her hair piled in an elaborate updo on top of her head. Notations around the edges delineate the coin’s weight and composition to verify its value. The reverse side of both coins is the same, featuring a five-pointed star in the center.
Scandal in Washington, D.C.
Because the Stella never reached circulation, it was not initially available to the public, much to the dismay of the coin collectors of the age. Instead, the U.S. Mint gifted the coins to various Congressmen. Later, people discovered that many of the madams in Washington, D.C.’s brothels were wearing the coins as medallions around their necks. It is likely that the Congressmen of the time were partial to visiting these brothels, giving the coins to the madams to thank them for their services. Needless to say, the coin collectors were not happy with this development. Even today, you can find Stella coins with small holes in the top where they once hung from necklaces.
Learn More about the Stella
Here at Roswell Gold, Silver & Coins, we work hard to know everything there is to know about coin collecting, and that includes the Stella coin. Our associates will gladly answer any questions you have, whether you have been collecting coins for years or are just getting started. We welcome you to stop by our shop to see the coins we currently have available. Our selection frequently changes, so be sure to check back often to see what’s in store.