1857-S Liberty Head Double Eagle. Variety-20A. Spiked Shield. Gold S.S. Central America. MS-66 (PCGS).This breathtakingly beautiful Gem exhibits vivid medium orange peripheral toning around lighter golden-rose surfaces. Striking detail is razor sharp with even the most intricate design elements fully rendered and readily appreciable. Frosty in texture with an exceptionally smooth appearance, this coin is sure to have no difficulty finding its way into an advanced collection of Liberty Head gold or shipwreck treasure. A simply lovely double eagle irrespective of type or date, this 1857-S hails from the <em>Central America</em> treasure, 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 <em>S.S. Central America</em> in the late 1980s. When the <em>Central America</em> sank 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. 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 could not only acquire a Mint State example of this issue, but could entertain the possibility of Gem specimens. In fact, 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.Ex <em>S.S. Central America</em>.
