1857-S $20 Liberty Head Double Eagle PCGS MS-64 Prooflike, 20A, SS Central America

Doug Winter writes of the Prooflike 1857-S specimens that "These are some of the most visually arresting coins from the shipwreck .... These are no doubt very scarce and very flashy coins..."   Out of the original mintage of 970,500, Winter tells us that over 5,000 of the 1857-S double eagles were found among the ruins of the SS Central America.

Winter reports that only 23 of that massive hoard were awarded PL (Prooflike) designation by PCGS. Take a look at the images. This example has shimmering reflective surfaces, like a calm lake. And the design elements are razor-sharp. A discerning enthusiast of shipwrecked gold, S-Mint gold, and high-end Liberty head double eagles with the necessary resources should carefully consider this offering. Such coins rarely come to market. Don't let this one get away.

The Collectors Universe has only ONE published price for an 1857-S $20 SSCA certified as PROOFLIKE. Today, that price is $40,000 for a MS63PL. This, of course, is a MS64. 

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.