A rare $4 gold coin from the U.S. is to be auctioned for as much as $1.5 million, according to a Sept. 13 Yahoo News report. The rare $4 Coiled Hair Stella gold coin from 1880 will be auctioned at Bonhams in Los Angeles on Sept. 23.
The rare $4 gold coin is made from an astonishing six ounces of pure gold. The coin was never put into circulation, and it goes up for auction with 26 other rare coins that could be worth as much as $8 million when the auction is all over. According to director of rare coins for Bonhams, Paul Song,
"That's an average lot value of almost $300,000 per coin. That may not be a Monet painting but in my world, that's pretty amazing. It's been a privilege to handle them, and they are gorgeous, just because they're gold, perfectly struck and the designs are really incredible."
The coin was minted in 1880 with a representation of Lady Liberty. Originally, the coin was supposed to match the weight of coins in the Latin Monetary Union, which would have made trading among countries easier at the time. However, there was never good public support for the rare $4 gold coin, so ultimately it never caught on.
The coin is so rare that only one or two are available at auction each decade. In fact, only 10 or 12 of these rare $4 gold coins exist in the world. Whoever ends up winning the auction will own an incredibly rare and expensive piece of history.