|
Sale 72
|
|
press UP arrow key to increase the zoom ratio.
press DOWN arrow key to decrease the zoom ratio.
press RIGHT arrow key to increase the zoom window size.
press LEFT arrow key to decrease the zoom window size.
|
|
Lot 1825
1857-S S.S. Central America. PCGS graded MS-66. CAC Approved PQ. 20A Spiked Shield. Wonderful light golden toning. Very choice. SSCA 1013.
The SS Central America, sometimes called the Ship of Gold, was a 280-foot sidewheel steamer that operated between Central America and the eastern coast of the United States during the 1850s. She was originally named the SS George Law. The ship sank in a hurricane in September 1857, along with 400 passengers and crew and 30,000 pounds of gold, contributing to the Panic of 1857.
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 a currency since the state's residents shunned paper money of any kind. This is the main reason why S-mint double eagles are found circulated (often heavily so) and only rarely in fresh mint condition. The Mint State 66 offered here is quite naturally among the finest in existence. Perhaps only a few thousand frosty original coins exist out of the original mintage. It traces to the shipwreck of the passenger liner SS Central America, which floundered off the East Coast in a storm late in 1857.
On the history of the $20 denomination itself: one of the consequences of the immense discoveries of gold in California was an increase in gold bullion coming to the Philadelphia Mint for coinage. Authorities felt that large-scale domestic or international transactions payable in gold should be made in more compact form than eagles or smaller denominations. Accordingly, Rep. James Iver McKay (D.N.C.) was persuaded to introduce an amendment to his Gold Dollar bill, Feb. 1849, which would authorize coinage also of $20s, to be called Double Eagles. These were to weigh 516 grains = 33.436 grams, a little over a troy ounce each, and be roughly comparable in value to several Latin American denominations.
Estimated Value $15,000 - 20,000.
|
| |
| Realized $29,900 |
|
