A patent is granted in May 1877 to William Wheeler Hubbell for a gold, silver and copper alloy named goloid to replace the 90% silver alloy of the 1 dollar coin. The officials are convinced and the first dollars in goloid are struck in 1878. The mass of the piece is carved in the metric system (14.25 grams) beside the proportions: 1 G, 16.1 S, 1.9 C.
To accompany the new dollar its new multiples are designed in 1879. The five-dollar quarter eagle should be replaced by a four-dollar coin 6 G, .3 S, .7 C (7 grams) nicknamed the stella for the star that adorns its reverse. The incentive of the four dollar denomination is to be directly exchangeable for eight florins.
At the top of the monetary range a die is created for the $ 20 coin 30 G, 1.5 S, 3.5 C (35 grams) known as the quintuple stella. It should be noted that the alloy of the stellas and quintuple stellas is too heavy in gold to be designated as a goloid.
The goloid patent stated an increased difficulty of counterfeiting. It was naïve : it was enough to remove the gold and increase the copper to obtain a cheaper piece impossible to distinguish from a real dollar coin. The government understands it in 1880 and stops the operation : the goloid, the metric dollar and its multiples are dead and buried.
The stella has never been released. Used as a gift to promote the project, it is not scarce and some examples have been worn by handling. This is not the case for the five known units of the quintuple stella from its unique 1879 strike : all of them remain in mint proof condition, graded PR 62 to PR 64+ by PCGS or NGC.
A coin was donated to the Smithsonian by Stack's. A collector still recently owned the two specimens in deep cameo condition. He keeps the best. The other, graded PR 64 by PCGS, was sold for $ 1.88M including premium by Legend Rare Coin Auctions on May 19, 2016.
Another one of the five coins had been presented by the US Mint to Hubbell. Graded PR 62 by PCGS, it was sold for $ 860K including premium by Heritage in January 2007. Upgraded PR 63 Cameo also by PCGS it will be sold by Stack's Bowers in Baltimore on March 22, lot 2272.
SOLD for $ 1.5M including premium
To accompany the new dollar its new multiples are designed in 1879. The five-dollar quarter eagle should be replaced by a four-dollar coin 6 G, .3 S, .7 C (7 grams) nicknamed the stella for the star that adorns its reverse. The incentive of the four dollar denomination is to be directly exchangeable for eight florins.
At the top of the monetary range a die is created for the $ 20 coin 30 G, 1.5 S, 3.5 C (35 grams) known as the quintuple stella. It should be noted that the alloy of the stellas and quintuple stellas is too heavy in gold to be designated as a goloid.
The goloid patent stated an increased difficulty of counterfeiting. It was naïve : it was enough to remove the gold and increase the copper to obtain a cheaper piece impossible to distinguish from a real dollar coin. The government understands it in 1880 and stops the operation : the goloid, the metric dollar and its multiples are dead and buried.
The stella has never been released. Used as a gift to promote the project, it is not scarce and some examples have been worn by handling. This is not the case for the five known units of the quintuple stella from its unique 1879 strike : all of them remain in mint proof condition, graded PR 62 to PR 64+ by PCGS or NGC.
A coin was donated to the Smithsonian by Stack's. A collector still recently owned the two specimens in deep cameo condition. He keeps the best. The other, graded PR 64 by PCGS, was sold for $ 1.88M including premium by Legend Rare Coin Auctions on May 19, 2016.
Another one of the five coins had been presented by the US Mint to Hubbell. Graded PR 62 by PCGS, it was sold for $ 860K including premium by Heritage in January 2007. Upgraded PR 63 Cameo also by PCGS it will be sold by Stack's Bowers in Baltimore on March 22, lot 2272.
SOLD for $ 1.5M including premium
#AuctionPreview—An 1879 “Quintuple Stella” from the Garrett Collection will be offered by @StacksBowers as part of the official Whitman Coins and Collectibles Baltimore Expo auction next month. https://t.co/pp3S4QahIj #coins #numismatics #gold #Stella pic.twitter.com/2MV6shXKqo
— CCN & CSN (@trajanpublisher) February 9, 2018
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