1847 Eagle (1847 $10) NGC AU58. As the first Secretary of Treasury of the United States , Alexander Hamilton had envisioned a monetary standard where gold would be the only legal tender, and coins of other metals would be simply a convenience. He believed that golds price stability was the most consistent of all of the precious metals and be less sensitive to changes in supply. Many considered his idea to be utopian and idealistic and in 1790, Congress settled on a bimetallic standard and Mint Director Robert M. Patterson was instructed to produce eagles, and Acting Engraver Christian Gobrecht, replacing the ailing William Kneass, prepared dies for a new design.

Gobrechts design for the Liberty Head $10 gold piece was inspired by the portrait of Venus in Benjamin West's Painting Omnia Vincit Amor (Love Conquers All). The obverse features a bust of Liberty facing left, wearing a coronet inscribed LIBERTY . Her hair is knotted in the back with hanging curls. Thirteen stars encircle the bust, with the date positioned below. The reverse depicts an eagle holding an olive branch and arrows, surrounded by the inscriptions UNITED STATES OF AMERICA and TEN D. Mintmarks are below the eagle.

The coin featured was recovered from the shipwreck of the S.S Republic , which sunk off of the coast of Georgia on October 25, 1865 . The S.S Republic , originally called the Tennessee , was built for War of 1812 veteran James Hooper. The Tennessee was used for various civilian duties, including the transportation of 49s during the California Gold Rush. During the Civil War, the Tennessee was used as a blockade runner by the Confederacy in New Orleans s harbor. After the Union captured New Orleans , the Tennessee was put into military service as the U.S.S Tennessee. The U.S.S Tennessee proved to be an admirable blockade ship as well as a powerful gunship. In 1864, the U.S.S Tennessee was renamed to the U.S.S Mobile. The U.S.S Mobile was decommissioned from service after it was damaged by a hurricane off the mouth of the Rio Grande . The ship was sold at auction and renamed the S.S Republic and returned to sailing passengers from New York to New Orleans .

On October 25, 1865 , the S.S Republic sank off the coast of Georgia carrying a cargo of $400,000 in gold $10 and $20 coins that were intended to be used as hard currency in Louisiana , after the Civil War left the states with miniscule amounts of tangible money.

In 2003, the wreck of the S.S Republic was rediscovered, in its hull; over 50,000 coins, including the incredible example being offered for sale.

This example, graded AU-58 by NGC, possess the blue S.S Republic shipwreck label. Its beautiful mirrored surfaces are adorned by sharply struck devices. The surfaces are clear with very little contact marks. You would never guess that this coin spent 138 years on the ocean floor!