Micronesia
This specimen was lot 43339 in Stack's Bowers NYINC sale (New York, January 2026), where it sold for $18,000. The catalog description[1] noted,
"Handsome Pre-O'Keefe Stone Money from Geographically Isolated Yap Island, YAP ISLAND. Stone Money "Fei", ND (Pre-O'Keefe type, mid-late 19th Century). This highly fascinating issue, often referred to as the "Holy Grail" of primitive monies, in an irregular circular shape with numerous natural voids displays attractive milky white and tan coloration with areas of visible crystals. Close inspection reveals evidence of the surfaces being sanded smooth. Despite its shortcomings a handsome example of the pre-O'Keefe type with a pleasing appearance. Seldom offered and highly sought after this large stone is certain to be prized entrant to the next collection it enters.
"Yap Island produced the world's largest and heaviest coinage, most commonly referred to as "Fei" or "Rai", considered sacred amongst the local people. The largest examples are more than 12 feet in diameter, weighing about 2 tons. Due to their excessive size, the larger stones often traded ownership without physically being moved and would remain in place as it became common knowledge among the inhabitants that it now belonged to a new owner. As there is no large source of stone on Yap, the stones were quarried and shaped on the island of Malakal in Palau, then shipped back to Yap on native boats. The stones are made of calcite, which is abundant on Malakal. Some of the larger stones took as long as two years to quarry and shape using axes made from giant clams. The trip from Malakal to Yap via boat was a hazardous voyage that claimed many lives. Often the value placed on a stone directly related to the number of human lives lost in order to quarry it and deliver to Yap. Although there are many sizes and shapes of Yap stones, they can be classified into two basic types: pre and post O'Keefe. The earliest stones were produced by the locals using axe heads made from segments of the giant clam. Later stones or "O'Keefe stones" were produced in the late 1800's using metal tools. David O'Keefe was [an] American of Irish heritage who came to Yap with tools and a junk boat acquired in Hong Kong, which he used to quarry and transport "Fei" from Malakal to Yap, and through this process set himself up as the King of Yap Island. The 1954 motion picture His Majesty O'Keefe starring Burt Lancaster, although somewhat dramatized does fairly accurately portrays this series of events."
Recorded mintage: unknown.
Specification: this specimen 32.5 pounds; Diameter: 14 x 14-1/2 x 3-5/8 in.
Catalog reference: Opitz-pg. 316/21; Quiggin-pg. 144, P1#12; Sigler-pg. 19.
- [1]Orsini, Matt, Kyle Ponterio and Jeremy Bostwick, January 2026 NYINC Showcase Auction, Ancient and World Coins, featuring the Kazmier Wysocki Collection, Costa Mesa, CA: Stack's Bowers Galleries, Inc., 2025.
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