Lot 1705
1857-S $20 Liberty. NGC graded MS-65. Gorgeous bright frosty luster, essentially "as struck" -- an incredible coin if you have never seen one of these stunning double eagles!
The mint at San Francisco opened for business in 1854 in response to the flood of gold bullion issuing from California's Sierra Nevada mother lodes. From gold's discovery in 1848 until the mint opened, a number of private mints operated in this part of the state. Much of the issue from San Francisco went east through various means to satisfy the needs of commerce and for use as export. Double eagles that stayed behind in California were used locally as currency since the state's populace rejected paper money of any kind. This is the chief reason why double eagles are found circulated (often heavily so) and only rarely in fresh mint condition. The Mint State 65 offered here is quite naturally among the most spectacular Gems you will ever see of a Type 1 Twenty-dollar gold piece. These trace to the shipwreck of the passenger liner S. S. Central America, which sank off the East Coast in a storm late in 1857. Pop 61; 32 finer, 30 in 66, 2 in 67 (PCGS # 8922) .
Estimated Value $9,000 - 10,000.
Ex: S.S. Central America.
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| Realized $9,775 |
