1857-S $20 Bold S S.S. Central America #1 Gold Foil MS(PCGS#70001)

The Regency Auction 49

拍卖行

Legend Rare Coin Auctions

批号

293

等级

MS65

价格

82,301

详细说明

FROM CODY'S COLLECTION A remarkable GEM example of the Bold S type. This highly lustrous and beautifully conserved two-tone example came from the first recovery of the treasure of the famed Steam Ship Central America, and is housed in the first style gold foil label holder. This incredible coin is what started the Cody Collector on his path to building this world class gold type set. Blistering mint luster glows vividly all over the high end surfaces. The shimmering brilliance blooms all over with a bold cartwheel texture that brings the rich golden surfaces to life. Both sides have a wonderful two tone orange-gold look, typical of most coins from the first salvaged offering. The devices are very sharply struck up and as expected for the grade, there are only the most insignificant marks or ticks noted with the aid of a strong glass. The eye appeal is off the charts! After decades of speculation in railroads and other investments, a market bubble burst in 1857. The ensuing panic tanked the American economy. In September 1857, the S.S. Central America, its hold heavy laden with massive gold ingots and large quantities of freshly minted double eagles set sail from Panama to New York, the gold being sent to try and sure up the financial markets. A massive hurricane trapped the sidewheel steamer off the Carolina coast and when the sea water flooded the boilers, the ship foundered and sank to the bottom of the icy cold depths of the Atlantic. The Panic of 1857 worsened and ended up being one of the worst economic depressions in American history. One of the long term after effects of the Panic was a deepening of the divide between the industrial/commercial economy of the North and the agrarian economy of the South. The ship wreck was discovered by Tommy Thompson in the late 1980s and after a legal battle that raged for over a decade, the coins and ingots recovered began their appearance on the market. The coins were conserved and certified by PCGS then marketed by a group of dealers that formed the California Gold Marketing Group. At the 2000 ANA in Philadelphia a huge ship of gold display attracted the attention of thousands of collectors and through the marketing group, these sunken treasure coins were widely dispersed. They remain very popular numismatic items. Prior to the discovery of the S.S. Central America, the Type I twenty was virtually unknown in GEM Mint State grades. The hundreds of such coins discovered on the ship made it possible for many people to add a GEM Type I $20 Lib to their collections. PCGS 1044, NGC 126, CAC 236. The most recent PCGS/CAC example of this date was sold back in July 2019. The current Collectors Universe value is listed at $13,000 and the CAC CPG value is $14,400. Bound for another world class collection of gold types or fantastic cabinet of $20 gold pieces, this coin will certainly see very spirited bidding. Good luck. Cert. Number SSCA4844 PCGS # 70001