An 1880 $4 coiled hair stella is to cross the block at Heritage Auctions in Chicago on April 22-26, with a minimum bid of $1.2m.
The coin was designed by John Kasson, a US envoy to Austria, as an attempt to ferment trade between the two nations.
The coin was designed to facilitate trade between Austria and the US
It was intended to be similar (in terms of value and appearance) to the Austrian florin, but the project was shelved after only a handful of coins had been produced.
Greg Rohan, president of Heritage Auctions, commented: "The 1880 Coiled Hair Stella is, in no uncertain terms, an extraordinary issue and one of the great treasures in United States numismatics.
"It's the rarest date in a series renowned for remarkably low production totals across the board. In addition to the issue's fascinating history, this particular representative's outstanding preservation and corresponding high technical grade undoubtedly make it one of the most desirable and important Stellas available to collectors."
The coiled hair specimen is among the most desirable US issues, with one example making $2.5m at Bonhams in 2013. It's significantly rarer than the flowing hair Stella.
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