AMONG THE NICEST CIRCULATED AU58 1854-S DOUBLE EAGLES I’VE EVER SEEN

This is a numismatically significant issue as it is the very first double eagle made at the newly-opened San Francisco mint. There are many seawater coins of this date (which are mostly sourced from the wreck of the S.S. Yankee Blade), and coins with natural surfaces are among the rarest double eagles from this mint with likely no more than 100-150 known.

When I first saw this coin, I was taken aback by its consummate originality. It displays excellent luster for the issue with complimentary rose-gold coloration on both sides. It lacks the dirty appearance which is seen on coins of this date sourced from Fairmont, and the surfaces are extremely clean with not a single deep, detracting mark noted by the naked eye. It would be hard to imagine a nicer 1854-S $20 with original surfaces in any circulated grade.

While a few nice 1854-S $20s were in the Fairmont Hoard (the finest was the PCGS MS62 that brought $40,800 in April 2022), none with CAC approval were graded as high as the example I am offering here.

This exact coin (see below) is one of four PCGS/CAC AU58 1854-S $20s to have sold at auction. The other three results are as follows:

• Stack’s Bowers 5/2019: 1178 which brought $21,600

• Stack’s Bowers 3/2019: 2096 which brought $22,800

• Heritage 4/2016: 4816 which brought $28,200

• I am not aware of a finer natural-surfaced 1854-S $20 currently available to Type One collectors.

EX Palos Verdes Collection via DWN and earlier ex Heritage 2024 FUN: 4388 where I purchased it for $25,200

CAC has approved eight in this grade with five finer.

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