1855-S $20 (1855-S Double Eagle) NGC MS60. This Western branch mint, mint state, Type 1 1855-S Double Eagle shimmers with bright mint luster within the protected areas of its devices. The coin is well struck with full details seen in the centers of the stars and the design details of the reverse. No wear is seen as expected for a mint state coin, but there are a few contact marks and moderate abrasions, in keeping with the grade.

With the Gold Rush of 1849 in California, there was a large increase in the amount of gold coming into the Mint for coinage. Consequently, a bill was introduced in the House to coin $20.00 denominations called double eagles. Mint Director Robert Patterson tried to use this new coinage bill as an excuse to terminate James Longacre as the Engraver because of political and other differences. The Chief Coiner, Franklin Peale, with Patterson’s approval and help, was making medals on the side. Patterson was afraid that Longacre would interfere with Peale’s profitable business. Therefore, Peale would not cooperate with Longacre; however, Longacre prevailed and was able to retain his position and complete the dies for the double eagles.
Longacre designed the coin, which was substantially different from the previous capped Liberty eagle. It was similar to Gobrecht’s Large Cent Braided Hair Coronets of 1839 to 1857 in that instead of the cap, Liberty now wore coronet with her hair tied in the back. The reverse design depicted a modified heraldic eagle with an oval of thirteen stars above its head which are in turn surrounded by rays. The motto “E Pluribus Unum” is on each side of the eagle on matching ribbons. This design remained in use for almost sixty years.

The San Francisco Mint opened in 1854 because of the need to coin gold resulting from the California Gold Rush. In the West there was an abundance of gold bullion, nuggets and dust; however, there was also an acute shortage of circulating coinage. Congress authorized this mint to relive the shortage and coin silver and gold and because transportation of bullion to Philadelphia was time consuming and hazardous. Because of its proximity to the Gold Rush area, San Francisco was chosen as the site of the new mint. In 1874 it moved into a new building called the Old United States Mint or the Granite Lady. It is one of the few structures that survived the earthquake of 1906. It remained in service as a mint until 1938, when the present facility opened.

In its first year of operation the Mint made four million dollars in gold coins from bullion. The second building, the Old United States Mint, was designed by Alfred B. Mullett in Greek Revival style. It was built in an E-shape with a central pediment portico. There was a completely enclosed courtyard that had a well. It was these features that saved it in the fire that resulted from the earthquake of 1906. The building was situated on a concrete and granite foundation that was made to prevent tunneling into its vaults. In 1906 there was $300 million, a third of the United States’ gold reserves, in its vaults. Frank Leach and his men worked heroically to successfully preserve the building and the bullion. The mint was able to resume service and operated until 1937. It was designated a National Historic Landmark in 1961.

Since most of the building was made of sandstone, the nickname of “The Granite Lady” is a misnomer. Only the basement was made from granite. It was opened to visitors in 1993 and sold to the City of San Francisco for one dollar in 2003 for use as the Museum of the City of San Francisco.

The 1855-S double eagle is easily found in VF to XF condition. A large number was found on the S.S. Central America and some on the S.S. Republic. In its population report, NGC shows 7 in MS60 with 22 better.