1862-S Double Eagle (1862-S $20) NGC AU58. Ex-SS Republic (blue tag). Doubled 86. Civil War Double Eagle. This buttery 1862-S double eagle shimmers with luster in the devices. There are a few small contact marks on Libertys cheek and one in the circle of stars on the reverse. Theres a trace of wear on Libertys hair above the ear and on the tips of the wings, which probably account for the AU58 grade. The strike is full on the reverse and less so on the obverse. Prior to the discovery and reclamation of the Republics treasure, all S minted eagles of this date were rare to prohibitively rare In 1865 following the Civil War, the treasure ship S.S. Republic 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 ships treasure. The cargo of riches, every explorers dream, had lain for 138 years approximately 100 miles off the coast of Georgia. Lost Gold of the Republic, a film produced by National Geographic documents the discovery and the subsequent recovery of the artifacts.

The San Francisco double eagles were created to use the nations gold that had been discovered in the California Gold Rush. They are Type I Liberties, also called Coronets, minted from 1849-66, with no motto. Neither IN GOD WE TRUST nor E PLURIBUS UNUM appears on the coin. Beginning in 1866, IN GOD WE TRUST was added because of pressure from a campaign led by Reverend M.R. Watkinson of Pennsylvania.

The coins recovered from the S.S. Republic are labeled as such by NGC and its affiliate NCS not only to note the historic significance of the coin, but also to indicate that these coins have been professionally conserved. The blue NGC tag was used exclusively for coins from the Republic. Although a large number of 1862-S double eagles have been certified, the repunched 86 variety, which NGC does not list separately, is rare in all grades.