LIBERTY
HEAD (NO MOTTO ON REVERSE) TWENTY DOLLARS OR DOUBLE EAGLE
(1849-1866)
1854-S Double Eagle
Images courtesy of Superior Stamp and Coin
1854-S
Double Eagle or $20 Gold
PCGS
No:
8913, 70030,
70031, 70032
Circulation
strikes Mintage:
141,468
Proofs:
1
Designer:
James Barton
Longacre
Diameter:
±34
millimeters
Metal
content:
Gold - 90%
Other - 10%
Weight:
±516
grains (±33.4 grams)
Edge:
Reeded
Mintmark:
"S"
(for San Francisco, CA) below the eagle's tail on
the reverse.
Introduction:
The year 1854 was the first time that gold coins were
produced at the San Francisco Mint. The 1854-S quarter
eagle and half eagle are extremely rare. Most of the
production for the year focused on double eagles.
The issue was widely distributed, and many of the
coins seen today are heavily worn. A large group of
1854-S double eagles were found in the wreckage of
the S.S. Yankee Blade. The treasure was undocumented,
but it is believed that around 200 to 300 coins were
discovered. Most of the coins were high-grade examples,
but with surfaces that are lightly etched from exposure
to seawater. The surfaces on the coins vary, and some
examples have been certified by the major grading
services. A few examples have been certified as MS-65,
the last of which sold at auction in 1998 for $29,900.
One was sold privately in 2004 for $54,000. A Proof
example of the 1854-S double eagle is in the Smithsoman. Key to Collecting: The 1854-S double
eagle is fairly scarce. In addition to the treasure
coins, several hundred "regular" examples
of the 1854-S $20 gold exist.
Aspects of Striking: Usually seen well struck.
Often with myriad die cracks on the reverse.
Die Data: IS54 Four-digit
Small Date logotype. Eight pairs of dies were on hand
for the 1854-S $20 coinage. All seen have the date
punched lighdy into the die and have a large S mintmark,
sometimes touching the eagle's tail and sometimes
not.
The first 18S4-S double eagle was struck on April
3, 1854. The coin is now in the National Coin Collecdon
in the Smithsonian Institution. This is the only Proof
striking of any San Francisco Mint $20 of the design
type.
Number of Appearances:
86 (19%)
High Grade Condition Points: 50
Average Grade: VF-36
Auction Records: (21) Unc: Stack's 9/81; ANA 1981;
Auction '81 (2); New England 1/81; Paramount 11/80;
Auction '80 (3); Superior 10/79; ANA 1979; Auction
'79; Superior 1/79; ANA 1978 (2); Superior 6/78; Hughes
2/78; Paramount 1/77; Ivy 10/77; Stack's 9/77; ANA
1976
(8) AU: Kagin's 9/80; Auction '79;
B&R 2/79; GENA 1975; Davies/Niewoehner 1975; Miles
1968; ANA 1966; Kern 1950
(19) EF: Stack's 6/79; Kagin's 9/78;
Pine Tree 1/78; New England 11 ,'77, 7/77; Stack's
6/77, 2/77; Pine Tree 3/76; AAA 12/75; Stack's 9/75;
RARCOA 4/75; Paramount 11/70, 9/70, 2/70, 11/69, 2/67,
10/66; Bell 63; Menjou 1950
(32) VF: Kreisberg
9/80; Stack's 3/80; Superior 10/79; Stack's 9/79,
2/79, 10/76; Pine Tree 6/75; Superior 10/74; ANA 1974;
Paramount 11 ,/72, 3/72; Stack's4/71, 6/70; Kreisberg/Cohen
6/69; ANA 1968; Shuford 1968; Stack's 5/68, 4/67,
10/66. 6/66; Kreisberg 6/65; Wolfson 1962; Golden
1962; Melish 1956; Farouk 1954; MC 1948; Lee 1947;
Atwater 1946; WGC 1946; Bell 1944; Roach 1944 (2)
(6) Fine: Superior 10/74; Gilhousen 1973;
Kreisberg/Cohen 11/70; Paramount 5/66, 3/66; Meiish
1956
Comments: The 1854-S Double Eagle is a very scarce
date in all grades. Until the past five or six years
it was virtually unobtainable in high grade and almost
all known specimens graded only VF or EF. But in the
mid-1970's a small group of "saltwater uncs"
was discovered and all the high grade specimens of
this date that have appeared at auction recently have
been from that group. The saltwater coins are all
mint state but they have varying degrees of the subdued
lustre that is characteristic of gold coins that have
been submerged fora long time in salt water. Actually
many of the coins are quite attractive and certainly
they are desirable because for all practical purposes
they are the only choice examples of this scarce date
that are available. All of the coins from this group
have faint obverse and reverse die cracks. There is
only one choice original (not saltwater) unc that
I know of and I have also seen only a few strictly
graded, original AU's. There is one proof known, undoubtedly
the first specimen struck, and it is in the Mint Collection
in the Smithsonian Institution. It is a very choice
quality coin and, in my opinion, it is easily the
most significant and desirable branch mint proof coin
in existence.
