1857-S $20 MS(PCGS#8922)

August 2018 ANA U.S. Coins Auction Philadelphia, PA

拍卖行

Stack's Bowers

批号

1331

等级

MS65+

价格

69,783

详细说明

Impressive Gem Mint State 1857-S $20 1857-S Liberty Head Double Eagle. MS-65+ (NGC). The medium orange peripheral color gradually transitions to a somewhat lighter golden-orange patina rich in luster toward the centers, providing a delightful framing for the sharp strike and vibrant satiny texture. Although not indicated as such on the insert, this lovely Gem Mint State double eagle is almost certainly from the Central Americatreasure, the primary source of high grade Mint State specimens. Unlike in the East where paper money was readily accepted in commerce, gold and silver were the preferred coin of the realm out in the West. The coins struck at the San Francisco Mint especially in its early years entered circulation and remained there. This was especially true for double eagles which served as one of the principal denominations for larger transactions for generations. For many years, the best example of a Type I double eagle struck at the San Francisco Mint would be in the AU range. That all changed with the discovery of the wreck of the S. S. Central Americain the late 1980s. When the Central Americasank off the coast of North Carolina on September 12, 1857. The loss was so great that it helped precipitate the Panic of 1857 and led to thousands of bank failures. In among the huge numbers of gold ingots, nuggets, and other coins, the steamship was also carrying a shipment of some 5,400 freshly struck 1857-S double eagles in its hold. Once the find was made available for sale, numismatists now could now acquire not only a Mint State example, but could entertain the possibility of Gem specimens. The majority of the recovered specimens are at the Choice to Gem Mint State level of preservation. That said, only a distinct minority have been certified above MS-65, all of which are eagerly sought not only by double eagle specialists, but also keen enthusiasts of Gold Rush history and shipwreck lore. A radiant example of an historic issue that will certainly please the successful bidder. PCGS# 8922. NGC ID: 2696. Click here for certification details from NGC.