1865 $20 Liberty Head Double Eagle NGC MS63 (CAC) Ex. SS Republic

Doug Winter and Adam Crum write, "The 1865 is a...scarce date....It is very rare in Uncirculated..." Winter also writes, "The 1865 double eagles from the S.S. Republic are well-struck and ....have excellent luster....they [are] impossible to distinguish from non-shipwreck coins. The luster on these pieces is frosty in texture with a slightly satiny appearance." Out of the original mintage of 351,175, only 812 pieces have been graded by NGC. There are 110 in MS63 with 119 finer. In CAC there are 22 in MS63 with 31 finer. The sophisticated numismatist will appreciate a specimen such as this 1865 double eagle, and will readily take the plunge to make it the newest piece in his or her portfolio.

The S.S. Republic, the wreckage from which this valuable specimen was retrieved.

The S.S. Republic left New York on October 18, 1865, bound for New Orleans with passengers and a cargo of $400,000 in coins, which was primarily gold $10 and $20 pieces. The Big Easy needed hard currency after the end of the Civil War. New Orleans was a busy, thriving city, but due to the war, "hard money" was in short supply. It was on the fifth day of the voyage that a hurricane off the coast of Georgia prevented the SS Republic from continuing. That evening saw her hull leaking, resulting in the fire in the boiler being snuffed out. The ship stalled in the heavy seas, taking on water at an alarming rate. At 4 p.m. on October 25 she sank. All passengers and crew had taken refuge in four lifeboats and a rough and ready raft. Two days later, the desperate survivors were found by the sailing ship Horace Beals.