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

Ex.SS Central America. PROOFLIKE. According to the 2000 Chrisites New York auction catalog sale of Gold Rush Treasures from the S.S. Central America, lot 95 details the then population of 1857-S double eagles recovered and certified by PCGS with a gold foil insert and described as PROOFLIKE (PL). It states "...among PL examples, this is tied with 19 others with just three finer exmaples from the S.S. Central America treasure certified by PCGS." This is certainly a treasure amongst treasures...

The discovery of the S.S. Central America shipwreck in September 1988 offered a remarkable glimpse into a pivotal moment in American history. The salvage operation uncovered a vast treasure, including thousands of freshly minted gold coins and significant artifacts, preserved as time capsules. These relics encapsulate the mid-19th century Gold Rush era and the tragic loss of approximately 425 lives when the ship sank in a hurricane on September 12, 1857. The recovered coins symbolize not only the era’s economic ambitions but also the courage of the crew, who heroically saved many women and children before perishing.

The exceptional preservation of most coins is remarkable but explainable. The ship rested at a depth of about 7,200 feet, in a cold, dark, and still environment devoid of strong currents. Gold, being a chemically stable metal, is largely unaffected by saltwater exposure. Additionally, many coins were tightly packed in wooden boxes as originally shipped, shielding those at the center from environmental degradation. This accounts for their near-pristine condition despite 130 years underwater.

The recovery, authentication, and marketing of the S.S. Central America’s treasure over the past three decades have transformed the numismatic world. The influx of these coins disrupted long-held assumptions about the rarity and value of certain issues, attracting new collectors and prompting seasoned ones to rethink their collecting strategies. For serious numismatists, owning a coin from this shipwreck—a tangible link to a defining moment in American history—has become almost essential.