1857-S $20 Liberty Head Double Eagle, Variety 20A, PCGS MS65 Ex. SS Central America

We at AUCM are fortunate to be able to offer a dramatic coin pulled from the tragic wreck of the S.S. Central America: an 1857-S $20 double eagle graded PCGS MS65. Encased in the PCGS "Gold Foil Label" holder, this piece is also the "20A Spiked Shield" variety. The night of September 11-12, 1857, saw the sinking of the S.S. Central America, when 425 of her 578 passengers and crew perished at sea in a category 2 hurricane with 105 MPH winds. Plus the sinking of 30,000 pounds (14,000 kg) of gold coins on board was a major contributing factor to the economic Panic of 1857. Therefore this 1857-S double eagle is a fascinating piece of numismatic history.

The example offered by AUCM was preserved in remarkable condition. That is not surprising, considering that the 1857-S double eagle never had the opportunity to become an instrument of commerce. That is because the S.S. Central America sunk in 1857, the year the piece was struck in San Francisco. Some may wonder how a coin, such as the current offering, could be so well preserved after sitting at the bottom of the ocean for a good 130 years. The vessel landed under 8,000 feet of water: a dark, freezing, and unwelcoming place where there was no current or disturbance whatsoever. Additionally, gold is a stable metal and contact with salt water has little effect. Even more, and most importantly, the vast majority of the coins retrieved from the ship were packed in wooden boxes that were tightly stacked, giving them even more protection from the elements.