US Coins

Market Analysis: SS ‘Central America’ gold

A CAC green stickered MS-64 1857-S Coronet gold $20 double eagle recovered from the “Ship of Gold” in an oversized PCGS holder with a gold “pinch” from the shipwreck sold for $10,968.75 at a July 25 auction.

Images courtesy of GreatCollections

The SS Central America is well-known as the “Ship of Gold,” and it reliably traveled from the eastern end of the Panama Railroad up to New York until being hit by a hurricane Sept. 11, 1857, sinking the next day. Beyond the loss of millions of dollars in gold and silver, 425 people died. The discovery and recovery of its treasure during the past few decades has resulted in thousands of gold coins coming to market.

Many collectors love the large, oversized holders produced by Professional Coin Grading Service for coins recovered from the treasure. GreatCollections offered an 1857-S Coronet gold $20 double eagle of the Spiked Shield variety, graded Mint State 64 with a green Certified Acceptance Corp. sticker, with an oversized slab that included gold dust recovered from the treasure and a label from the recovery operation’s chief scientist, Bob Evans, on which he certifies that the coin and gold dust were recovered from the SS Central America.

It sold for $10,968.85 on July 25.

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