Old Green Label Holder. By today's standards I think this coin is right in the middle of the "line" between an AU55 and an AU58. The 1854-S is the first gold dollar struck at the new San Francisco mint and this makes it a very significant coin from a numismatic perspective. This lustrous example is sharply struck and very lustrous. It shows some minor areas of mint-made roughness on both the obverse and reverse which is understandable when one considers that this is the San Francisco mint's first attempt at striking the challenging Type One design. A small mark on the face appears to be the result of contact from another coin many years ago. It is not easy to find this date in the higher AU grades with good eye appeal and this is a nice coin for the date and grade. In my opinion, a very undervalued issue, given its historic importance.