1857-S Liberty Head Double Eagle. Variety-20A. Spiked Shield. With One Pinch of California Gold Dust. MS-64+ (PCGS).Offered is a beautiful coin and exceptionally desirable presentation from the emS.S. Central America/em, the fabled "Ship of Gold." Both sides of this Choice Mint State double eagle display lovely mint luster and vivid golden-rose patina. Fully struck and nicely preserved, this is a premium quality near-Gem that is very close to an even higher grade.pThis 1857-S double eagle traces its pedigree to the treasure recovered from the emS.S. Central America/em shipwreck. Unlike in the East where paper money was readily accepted in commerce, gold and silver were the preferred coin of the realm 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 emS.S. Central America/em in the late 1980s. When the emCentral 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. Along with gold ingots, nuggets, and other coins, the steamship was carrying a shipment of some 5,400 freshly struck 1857-S double eagles in its hold. Once the treasure was made available for sale, numismatists could not only acquire a Mint State example of this issue, but the majority of the recovered specimens were in Choice to Gem Mint State grades. Only a distinct minority have been certified above the basic MS-64 level, All are eagerly sought not only by double eagle specialists, but also by enthusiasts of Gold Rush history and shipwreck lore. This lovely historic double eagle will certainly please the successful bidder.pThis coin is housed in a special large size PCGS holder that also includes one pinch of California gold dust. The back of the PCGS insert features the signature of Bob Evans, chief scientist and historian of the emS.S. Central America/em treasure. Under Evans signature is the note: "I certify this coin and gold dust were recovered from the emS.S. Central America/em." Also included in this lot is a cardboard Ship of Gold presentation box designed to house the large size PCGS holder. strongemThe box is available to the winning bidder upon request to Stacks Bowers Galleries at the close of the auction/em/strong.From the Q. David Bowers Collection. Earlier ex S.S. Central America.
