1850 Double Eagle NGC AU58 SS Republic. Not only the first year of issue for the double eagle denomination (the 1849 is an unique pattern), but this piece is also pedigreed to the famous shipwreck of the SS Republic. While later dates were well represented on the various shipwrecks, the earlier issues were not always included in quantities, making them very scarce in pedigreed holders.

The double eagle denomination was born shortly after the gold rush commenced in California. The gold that was flooding out of the mines had to be converted into federal gold coin, and the $ 10 denomination was considered to be too small for that purpose. As a result, the $20 denomination was born and first minted in 1850, two years after the gold rush had started in California.

The present coin is a near uncirculated example of this popular issue, which can be traced back to the SS Republic by the blue NGC label and accompanying box. As all shipwreck coins, the coin has been carefully preserved, with the result that wonderful lustrous is seen on both sides. Sharply struck, with all radial lines in the stars showing. The present offering represents a rare opportunity to acquire a storied first year of issue coin, not only of the design, but of the whole denomination.