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Double Eagle - A Two Coin Set

The numismatic adventure can be enriched by acquiring groups of coins in meaningful combinations. Sets of coins can run from two pieces to many. In the areas of rare date and early silver and gold coins we have established certain sets of special interest. They include the first and last of an issue, type sets, design sets, year sets, and those that are joined by historical events such as the Civil War. The coins of each set are specially selected for you and your collecting needs.

We are specialists in this area and will expertly and confidentially help you assemble a set similar to the one you see below, which is made up of pieces from the US Rare Coin Investments’ archives. We will cherry pick through millions of dollars of rare coins selecting only the finest quality pieces for your collection.

A Set of 1856-S Double Eagle SS Central America - 1861 Double Eagle Republic

Sunken treasure has always been parts of dreams. Because of modern scientific techniques, the recovery and conservation of treasure coins make them much more accessible to the public. For years historians have known about ships that were laden with gold coins and bullion that were lost at sea. Currently coins from many of these wrecks are available and have been certified by NGC and PCGS. Gold coin are often well preserved or more easily conserved than other metals. Double eagles are especially appealing because of their large size; they are available from the wrecks of the SS Central America, which was lost heading from Havana to New York in 1857 and the SS Republic, which sank off the coast of Georgia in 1865.

1856-S Double Eagle, SS Central AmericaUntil the discovery of the SS Central America, 1850’s double eagles in mint condition were virtually unavailable. The ship, originally called the SS George Law, was a United States mail steamship. In 1857 it sank off the coast of the Carolinas because of a huge hurricane. It was a three-mast, side-wheel steamship that traveled between Panama and New York. The journey took approximately 21 days. In the five years prior to its sinking, it has been estimated that the Central America carried about $150 million worth of gold or one-third of all of the gold mined in California. The ship was 272 feet long and had 578 passengers and crew on board. It also had on board over 35,000 pieces of mail, gold bars, nuggets, dust, and 5,200 newly minted San Francisco gold coins from the West, of which the present coin is one. The loss of the Central America triggered the “Panic of 1857,” which was caused by bank instability and generally poor economic conditions.

1856-S Double Eagle, SS Central America - Mint frost and shimmering luster characterize this shipwrecked 1856-S double eagle. A couple of minor contact marks on Liberty’s cheek probably keep this beauty from the gem grade. The strike is sharp on both sides. On the obverse we see every detail of Liberty’s hair, coronet, stars and dentils. Similarly, the reverse is sharp and clear. Every ray, star, feather, line in the shield, arrow, olive branch, claw, and letter is well struck and fully visible. No doubt the excellent condition of this coin is attributable to its high state of preservation in the shipwreck.

Approximate cost: VF $2,100; AU50 $2,750; MS60 $7,000; MS63 $19,500


1861 Double Eagle SS Republic1861 Double Eagle, SS Republic - During the California Gold Rush, the SS Republic, then called the Tennessee, was used to transport miners to the shore of Panama and Nicaragua to travel to the California gold fields. For several years the ship was used to carry immigrants to the Unites States from Mexico. When the Civil War began, the ship was docked in New Orleans. She was seized by the Confederates and used as a blockade runner. After the capture of New Orleans by the North, she became the flagship of Admiral Farragut for the end of the Mississippi Campaign. In 1864, she resumed transporting passengers and cargo from New York to New Orleans.

The next year she sank in a hurricane off the coast of Savannah. In 2003, the Odyssey Republic Expedition, after twelve years of searching, discovered and began the recovery of the ship’s treasure. The cargo had been untouched for 138 years approximately 100 miles off the coast of Georgia. “Lost Gold of the Republic,” a film produced by National Graphic, documents the discovery and recovery. The coins recovered from the SS Republic are labeled as such by NGC and its affiliate NCS not only to note the historic significance of the coins, but also to indicate that these coins have been professionally conserved. The blue NGC tag was used exclusively for coins from the Republic.

This Civil War dated 1861 Double Eagle from the shipwrecked Republic is tied for the second finest at NGC. The coin shows a strong strike with full details on the centers of the stars and the design features of the reverse. Subdued, satiny mint luster is seen on both sides of the piece. A few abrasion marks keep this coin from a higher Mint State grade. The surfaces of this are original and free of individual marks worthy of description.

Approximate cost: VF $2,100; AU50 $3,000; MS60 $6,000; MS63 $23,500


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