1855-S Double Eagle SS Central America - 1855-S $20.00 SS Central America, Thin A, Full E, PCGS AU55 CAC. Tied for the finest known variety at CAC with one other, this 1855-S Choice AU, shipwrecked double eagle has muted, original mint luster within protected areas on both sides of the coin. The coin is a mixture of yellow and rose gold, with the latter outlining the principal obverse device. The surfaces are clean for the grade as well as completely original, attested to by the colors. The strike is strong with full details on the centers of the stars and the design elements of the reverse, especially the eagle. The CAC sticker affirms that the coin is a premium quality piece that fully deserves the grade assigned.

Until the discovery of the SS Central America, 1850s double eagles in mint condition were virtually unavailable. The ship, originally called the S.S. 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.

In addition to the loss of bullion, many issues of private coiners were lost as passenger gold. The loss of the Central America triggered the Panic of 1857, which was actually caused by bank instability and generally poor economic conditions. On September 26, 1857, the Philadelphia Public Ledger made the following announcement:  The distrust that has pervaded stock and financial circles for the last fortnight was considerably heightened yesterday, by announcement early in the day that the Bank of Pennsylvania had suspended payment. A meeting of the directors was immediately convened, and the business of the bank ceased.The effect of the stoppage by the Bank spread like wildfire, and almost immediately a run was made on all the other banks, which was continued up to the hour of closingthree oclock. Within a week, specie payments were suspended at New York City banks, and a nationwide depression followed. 

James B. Longacre designed the double eagle. It shows a Liberty head facing left, wearing coronet inscribed LIBERTY. Her hair is tightly tied in the back with two loose curls hanging down her neck to the end of the truncation. She is surrounded by thirteen six-pointed stars with the date below. Dentils are near the edge on both sides of the coin. The reverse shows a heraldic eagle with elaborate ribbons on both sides of the shield extending from the top corner down to the eagles tail feathers. The ribbons are inscribed, on the left E PLURIBUS and UNUM on the right. The ribbons were added to the design to symbolize the denomination since this was the first twenty dollar coin. There is an oval of thirteen stars above the eagles head and an arc of rays from wing tip to wing tip behind the upper half of the oval. UNITED STATES OF AMERICA is in an arc above the eagle, and the denomination TWENTY D. is below. The mintmark is between the tail feathers and the N of TWENTY.

Longacres double eagle design was a new concept that endured well past the turn of the century. When Longacre first came to work at the Mint, he was opposed by Franklin Peale, the Chief Coiner. Peale was probably responsible for some blundered dies that Longacre was criticized for making. Peal was involved in a private, illegal medal manufacturing business using Mint facilities. He was concerned that this new political appointee would interfere with his business, and he resisted Longacres appointment as Chief Engraver. In the end Peale was found out and fired in 1854. Longacre flourished in his position and was responsible for creating many new designs including the Indian Head cent, the two-cent piece, the Shield nickel, the Liberty Head gold dollar, the Indian Princess gold dollar, the three-dollar gold piece, and the Liberty Head double eagle. 

In its population report, as of October 2013, CAC has confirmed 2 1855-S Thin A, Full E double eagles, the present coin and one other, in AU55 condition with none finer.