1857-S $20 Liberty Head Double Eagle, 20A PCGS MS64 (CAC) Ex.SS Central America

Encased in the exclusive PCGS "Gold Foil Label" holder, this brilliant piece is the "20A Spiked Shield" variety of the 1857-S Liberty Head double eagle. 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 winds of 105 MPH. 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.

PCGS has graded 1,106 of the 20A variety as MS64 in the Gold Foil Label holder with 785 finer. Collectors Universe gives this variety a price of $12,500.00 in MS64. In CAC, there are 172 of the 20A variety in MS64 with 273 finer. CAC prices this variety at $12,100.00 in MS64.

Wreck of the SS Central America. Image: Wikimedia Commons.

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.