"S"
(for San Francisco) below the eagle's tail on the
reverse.
Introduction:
The interest in gold coins, and double eagles in particular,
has risen sharply. Prior to 1985, the 1857-S double
eagle was mostly available in grades of Very Fine
to Extremely Fine. A few nice specimens were known,
but none were choice pieces. The discovery of the
S.S. Central America changed the landscape of collecting
double eagles profoundly. There were more than 5,000
examples of the 1857-S double eagle aboard when the
ship sank. Many of the examples found were in the
same state of preservation as the day they left the
Mint, The fabulous condition of the coins is what
makes them so special; the shipwreck find made early
double eagles available in high-grade condition. At
least eight different varieties of the 1857-S were
identified. Note: this coin is included among the
100 Greatest U.S. Coins (Garrett and Guth 2005).
Key to Collecting:
More than 5,400 Mint State 1857-S double eagles were
recovered from the wreck of the 5.5. Central America,
lost at sea in a hurricane on September 12, 1857,
some details of which are given below. These and other
numismatic items electrified the numismatic community.
In time, allwere sold, realizing, per reports, over
$100,000,000.
Prior to the treasure find, the 1857-S was considered
to be a plentiful coin in such grades as VF, EF, and
AU, but elusive in Mint State, most of the latter
being in lower ranges. Now available on the secondary
market are choice and gem coins of superb appearance.
Accordingly, this one coin is an ideal candidate for
a type set because it is readfly available and also
as it comes with one of the most gripping stories
in American maritime history and in treasure finding.
Aspects of Striking: Usually quite well struck
with superb detail of Miss Liberty's hair, stars,
and other features. Some are prooflike (called DMPL,
or "cameo contrast"), while others are frosty.
The use of multiple die pairs and striking periods
yielded striking variations.
Die Data: Standard
four-digit logotype punch for this year (see description
under 1857 Philadelphia Mint). Medium S (1.3 mm.)
and large S (1.7 mm.) varieties. Bob Evans studied
3,107 of the pieces recovered from the S.S. Central
America, representing the majority of those found,
attributing them to obverse and reverse die varieties
in a study published in The Numismatist, official
journal of the American Numismatic Association, in
2000.
Number of Appearances:
143 (32%)
High Grade Condition Points: 61
Average Grade: VF-39
Auction Records:
(18) Unc:
Hughes 3/80; Stack's 6; 79; Kagin's 1 79; Ivy 1 /
78; New England 11 ,'75; ANA 1975; Pine Tree 2/75;
Superior 10/74; Stack's 6/74; AAA 11/73; ANA 1971;
Alto 1970; DiBello 1970; Miles 1968; Kern 1950; MC
1948; WGC 1946; Hall 1945
(25) AU:
B&R 9/81; Stack's 9.. 81. 12, 79; ANA 1979; New
England 3/79; Stack's 2, 79; Pine Tree 6/78; Superior
6/78; New England 11/77; Ivy 10/77; New England 7/77;
Stack's 3 77; New England 11 75; Pine Tree 6/75; Paramount
11 74, 2/74, 5/ 73; Stack's 3 73, 2, 73; Gilhousen
1973; Stack's 2/ 72; ANA 1963; Bell 1944; Roach 1944;
Dunham 1941
(65) EF:
Stack's 12/81; Coin Galleries 9/81; Auction '81; Stack's
6/81, 3/81; Kreisberg 9/80; Stack's 6/80, 3/80. 2/80
(2), 12/79 (2); Paramount 11 79; Superior 10/79; Stack's
10/79; Auction '79; Stack's 6/79; B&R 4,79; New
England 3/79; Ivy 2/79; B&R 2/79(2); NASCA 12/78;
Stack's 10/78; Pine Tree 6/78; Stack's 6, 78; Superior
6 78; RARCOA 1 78; Stack's 12/77, 6/77; ANA 1976 (2);
Stack's 4/76; Coin Galleries 11,75; Paramount 11/75;
ANA 1975; Paramount 5/75; Stack's 4/30/75; Beck 1975;
AAA 11/74; ANA 1974(2); Pine Tree 3 74; Scanlon 1973;
Superior 12 72; RARCOA 4/72; Shapero 1971; Kreisberg
Cohen 9 71; Stack's 4/71, 6,70, 3,69. 5;68, 4/67,
1/67, 10/66; Walton 1963; Bell 1963; FUN 1963; Wolfson
1962; Holmes 1960; Baldenhofer 1955 (2); Menjou 1950;
Atwater 1946; Ten Eyck 1922
(26) VF:
New England 11/80; NASCA 10/79; Superior 10/78; Stack's
2/77; ANA 1976; Coin Galleries 4/76; Superior 3/71;
Kreisberg/Cohen 11/70; Stack's 1/69; Kreisberg/Cohen
6/68; Shuford 1968, 10/65; Stack's 2/65; Paramount
2/65; ANA 1964; Ward 1964 (2); Golden 1963, 1962;
Cicero 1960(2); Holmes 1960; Melish 1956 (2); Smith
1955; Farouk 1954
(8) Fine:
Stack's 1/70; Kreisberg 9/67, 4/67, 10/66, 11/65,6/65;
Golden 1963; Lee 1947
(1) VG:
Cicero 1960
Comments: Based on the number of specimens available
in all grades, the 1857-S Double Eagle is one of the
more common Type I S-Mint Double Eagles. It is similar
in overall rarity to the I855-S, 1858-S, 1859-S and
1865-S. Most available specimens grade only VF or
EF but AU examples, while certainly very scarce, can
also generally be located. Uncirculated pieces are
definitely rare and choice or gem quality examples
are seldom, if ever, available. I have never seen
anything other than frosty examples of this date.
1857
HISTORICAL HIGHTLIGHTS
Washington. D.C..
Feb. 21. Congress passes legislation barring
use of foreign coins in United Slates. Washington. D.C.. March 3. Congress
appropriates $70.000 to assist trans-AtliiiitLC cable
financed by Cyrus Field. United States. May 26. Dred Scotl
freed by his new owner (-Dec. 31). United States, June 27. Scientific
American cites threat to whale population, as in¬creased
literacy rate heightens demand for lamp oil. Oregon Territory July 1. Henry Pittock
and three others reach top of Mount Hood. Washington, D.C., July 13. Alfred
Cumming officially replaces Brigham Young as Governor
of Utah, with authority to use federal troops to enforce
national law (—Oct. 4). Valentia Bay, Ireland. Aug. 14. Ships
from United States and Britain assemble to begin laying
first trans-Atlantic cableVSepl. 2, IK5B). New York City, First passenger elevator,
invented by Elisha Otis. installed in Haughwout Department
Store. Moline, Illinois. John Deere is producing
10.000 steel plows a year. Chicago. Baseball ruling sets length
of game at nine innings. New York City. Cooper Union founded
by Peter Cooper, providing education for working class. Michigan. Thomas F.dison founds chemistry
lab at home, marking all bottles "poison."
to ainuscmenl of friends. Arizona. Edward Beale blazes wagon
trail from Fort Defiance to Colorado, using camels
as pack animals (— June 16). United States. American cities reportedly
have highest death rales in world, due. in large part,
in tuberculosis. San Diego, California. Introduction
of Italian honeybees begins honey industry here. New York City. Lithographers Nathaniel
Currier and James Merrill Ives establish their own
imprinl. Charleston, S.C. Hinton Rower Helper,
in Vie Impending Crisis of the Stmth. argues that
slavery ultimately impoverishes whites in South.
