Category: Media & Culture / September 12, 2013 11:15 AM EDT
A rare gold coin from 1880 has the potential to sell for over $1 million at Auction on September 23rd. It will be sold by Bonhams in Los Angeles as part of a 27 piece coin lot valued at up to $8 million. Paul Song Director of rare coins and banknotes commented on the significance of the coin;
"They're the rarest of the rare. They are put together as a design type of the United States coinage from the gold dollar up to a $20 gold piece. Some of these, there are a few hundred pieces known to have been struck. A few of them, such as the 1880 Coiled Hair $4 piece, there's only less than a dozen now. So even within that range, they range from being very rare to extremely rare are almost unique in that case. Their prices vary anywhere from $25,000 on the low end up to potentially $1.5 million for that 1880 $4 coin."
"The 1880 $4 Coiled Hair Stella is one of the so-called white whales of the coin collecting world. They are so rare, they come on the market maybe once or twice, at most, every decade. The $4 was a coinage type that was never put into regular circulation."
Coins are often regarded by experts as a good investment, as they have steadily risen in value. But will this coin sell for the expected $1.5 million when it goes to Auction on September 23rd?
Video Courtesy Of Reuters