Rare 1857-S $20 Liberty Gold Double Eagle Coin Recovered from SS Central America Shipwreck

The 1857-S $20 Liberty Gold Double Eagle is one of the most significant coins in American history. Struck at the San Francisco Mint, this coin is famous for being recovered from the wreck of the SS Central America, a ship that sank with a massive treasure during a storm. This article will explore the history of the coin, the shipwreck, and what makes the 1857-S $20 Liberty Gold Double Eagle with a Spike Shield PCGS MS65+ such a valuable piece for collectors.

The Origins of the $20 Liberty Gold Double Eagle

The $20 Liberty Gold Double Eagle was first minted in 1849, during the California Gold Rush. It was designed to help manage the large amounts of gold being mined at the time. Here’s a table highlighting key details about the coin:

Feature	Description
Year First Minted	1849
Designer	James B. Longacre
Obverse	Lady Liberty with a coronet inscribed “LIBERTY”
Reverse	An eagle with a shield, holding an olive branch and arrows

The San Francisco Mint and the 1857-S Minting

By 1854, the San Francisco Mint was established to process the gold being mined in California. The “S” mintmark on the 1857-S $20 Liberty Gold Double Eagle indicates it was struck in this mint. The year 1857 was significant due to the wealth being generated in San Francisco from the Gold Rush, making these coins particularly valuable.

The Story of the SS Central America

The SS Central America was a sidewheel steamship that played a crucial role in transporting gold from California to the East Coast. Here’s a timeline of key events related to the ship:

Date	Event
September 3, 1857	The ship set sail from Panama to New York
September 12, 1857	The ship sank during a hurricane off South Carolina

The sinking resulted in the loss of 425 lives and most of its gold cargo, which included freshly minted 1857-S Double Eagles. This disaster contributed to the Panic of 1857, a significant financial crisis in the U.S.

The Discovery of the Shipwreck

For over 130 years, the shipwreck was lost until it was rediscovered in 1988 by a team led by Tommy Thompson. The recovery of the ship yielded thousands of 1857-S $20 Liberty Gold Double Eagles that were remarkably well-preserved.

Year	Discovery Details
1988	SS Central America was rediscovered
	Thousands of coins recovered

The Spike Shield Variety

One of the unique aspects of the 1857-S $20 Liberty Gold Double Eagle is the Spike Shield variety. This variety features a raised spike-like protrusion on the eagle’s shield, caused by a die defect. Here’s a brief table explaining this variety:

Feature	Description
Variety Name	Spike Shield
Description	Raised spike on the eagle’s shield
Rarity	Scarce, highly sought after by collectors

This Spike Shield variety adds to the coin’s appeal, making it even more desirable among collectors.

The PCGS MS65+ Grade

Coins recovered from the SS Central America are sought after for their historical significance and condition. The Professional Coin Grading Service (PCGS) graded many of these coins, with several receiving high grades. The MS65+ grade indicates that the coin is in near-pristine condition. Here’s a breakdown of the grading scale:

Grade	Description
MS60	Mint state, with no major defects
MS65	Near-pristine, with only minor imperfections visible
MS65+	Higher end of the MS65 grade, very few imperfections

The combination of the high grade, shipwreck recovery, and the rare Spike Shield variety makes this coin highly sought after by serious collectors.

Historical and Numismatic Significance

The 1857-S $20 Liberty Gold Double Eagle represents a significant part of American history and symbolizes the Gold Rush era. Here’s why this coin is historically important:

Historical Significance	Description
Symbol of Wealth	Represents the riches of California’s goldfields
Connection to Financial Crisis	Tied to the Panic of 1857
Shipwreck Recovery	Offers a tangible link to a historical event

Owning a coin from this era is like holding a piece of American history.

Collecting the 1857-S $20 Liberty Gold Double Eagle

For collectors, the 1857-S $20 Liberty Gold Double Eagle with a Spike Shield PCGS MS65+ is a rare find. Here’s a table summarizing its key characteristics:

Characteristic	Description
Rarity	Highly sought after due to its unique features
Value	Can command prices in the hundreds of thousands of dollars
Collectible History	Represents a significant part of American numismatics

Collectors value this coin not just for its gold content but for the rich story it tells about fortune, loss, and rediscovery.

Conclusion

The 1857-S $20 Liberty Gold Double Eagle Shipwreck SS Central America Spike Shield PCGS MS65+ is more than just a coin; it is a piece of American history. Its journey from the San Francisco Mint, to the depths of the Atlantic Ocean, and eventually into the hands of collectors illustrates its lasting legacy. For those lucky enough to possess one, it symbolizes a connection to the past and is a valuable asset that is likely to appreciate over time.

Whether you are a seasoned numismatist or new to coin collecting, the 1857-S $20 Liberty Gold Double Eagle offers an extraordinary mix of beauty, history, and value. It remains a testament to America’s Gold Rush era and the ship that once carried fortunes across the seas.

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