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Lot
3541

1856 $20 MS61 NGC....

2008 May Long Beach, CA Signature Auction #1108

 
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Auction Ended On: May 30, 2008
Item Activity: 9 Internet/mail/phone bidders
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Location:

Long Beach Convention Center
100 S. Pine Avenue
Long Beach, CA 90802

Lot Viewing:
Room 103B,C (Tuesday Only)
Booth 400 (Wednesday - Saturday)

Auction Room:
Room 103B,C

Description:
Lovely MS61 1856 Twenty
From the
S.S. Republic
1856 $20 MS61 NGC. Ex: S.S. Republic. Although the S.S. Republic foundered in 1865, it had very few examples of the 1856 double eagle on board. This is one of only three Mint State 1856-P's recovered, all MS61, out of almost 2500 twenties salvaged. There were only 12 other pieces retrieved. Although the original mintage approached 330,000 pieces, today the issue has only a few dozen coins certified in Mint State.
This coin should prove doubly popular, both as a Mint State specimen and as a historic memento of the "shipwreck era" in U.S. double eagle coinage. The lustrous surfaces show no visible effect from lying on the ocean floor for nearly 140 years, with radiant luster and lovely orange-yellow color. The fields are a bit scuffy, but undistractingly so, and there are no singular abrasions save for some reeding marks in the left reverse field under the eagle's wing. Census: 13 in 61, 7 finer (4/08). (Registry values: N4719) (NGC ID# 268Y, PCGS# 8917)

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