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Lot
5614

1858-S $20 AU58 NGC. This is an easily obtainable date now that examples have been recovered in the S.S. Republic treas...

2006 August Denver, CO Signature & Platinum Night Auction #414

 
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Auction Ended On: Aug 14, 2006
Item Activity: 5 Internet/mail/phone bidders
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Location: Denver, CO
Description:
Lustrous Near Mint 1858-S Double Eagle
1858-S $20 AU58 NGC. This is an easily obtainable date now that examples have been recovered in the S.S. Republic treasure, and yet it is still a rarity in higher grades. Although that treasure yielded 64 examples of this date, according to NGC Census data, only seven of those were graded MS60 or better. Winter and Crum published their reference prior to dispersal of this treasure, thus their comments reflect the state of double eagle affairs prior to this discovery: "Because of the fact that other San Francisco double eagles of this era have had their populations swelled by hoards, the 1858-S has become somewhat of a forgotten issue. It is a much scarcer coin than most people realize, especially in higher grades." This date was minted after the S.S. Central America disaster, and several years before the S.S. Brother Jonathan accident, thus was not a factor in either of those treasures. In fact, just seven examples were sold from the latter hoard, with the finest graded just AU50.
This example is a splendid specimen with sharp design elements and brilliant yellow gold surfaces. Both sides exhibit wonderful frosty luster. The surfaces of this example are finer than usual, and this issue normally comes with excellent eye appeal.
From The Wyoming Collection.(Registry values: N1793) (NGC ID# 2699, PCGS# 8925)

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