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The 1854-S $20 Liberty
RYK
Posts: 35,799 ✭✭✭✭✭
I have always wanted to own one of these and this week was able to add one to my collection. It is not an exceptionally rare piece, but it is challenging to find one that was honestly circulated and also was not a salvage coin from the Yankee Blade hoard or the SS Central America. I believe that it is an important coin for the reason that it was the first $20 Liberty gold coin issued by the San Francisco Mint (which opened for operation that year). While the 1854-S QE and HE are nearly impossible and impossible to acquire, respectively, the 1854-S $10 is quite common and the 1854-S gold dollar is somewhat scarce, rounding out the 1854-S gold coin issues.
The PCGS pop report shows a total pop of 139 coins, trailing only the 1861-S Pacquet reverse and the 1866-S NM as the third scarcest SF $20 Lib. The grades range up to MS-65, but as indicated, many of the higher grade pieces have a matte surface from seawater exposure. There are a number of salvage pieces that are probably no-grades, so pop reports probably underestimate the total number of these available.
The PCGS pop report shows a total pop of 139 coins, trailing only the 1861-S Pacquet reverse and the 1866-S NM as the third scarcest SF $20 Lib. The grades range up to MS-65, but as indicated, many of the higher grade pieces have a matte surface from seawater exposure. There are a number of salvage pieces that are probably no-grades, so pop reports probably underestimate the total number of these available.
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I give away money. I collect money.
I don’t love money . I do love the Lord God.
What did PCGS grade it?
It looks to be a VF-35 possibly a EF/XF-40 to me.
We have a customer who has been avidly looking for an uncirculated 1854-S that was NOT a seawater unc. We participated in every major auction in the last 15 years searching for such a coin. It wasn't a matter of price -- he would pay whatever it took, but he didn't want one of those darn seawater uncs.
We finally found one for him jsut a few months ago. A marvelous coin, and absolutely not for the sea.
The 1854-S is a toughie, and few realize it.
Coin Rarities Online
Threads like these are making me want to plunge into gold in the near future. Great looking coin, love the circulated look of gold.
Ryan
This issue is interesting in that uncirculated examples (mostly sea salvaged) are more available than typical circulated XF examples. This is mostly explained by the low mintage figure of 141,468, which is very low for S-mint double eagles. Many examples show significant die cracks on the reverse.
Anyone else have an example?
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
the 1850s.
So, do you ever get tired of your collection? What is your turnover rate. How long must we wait? Crab. Crab. Crab. Whine. Whine. Whine.
Oreville, I do not know what PCGS grades it and do not plan to find out. I think that $20 Libs look nice in NGC holders and have no reason to cross it out.
your collection is becoming well rounded with a depth of meaning behind most of what you own.
I am envious.
<< <i>*WANT*
So, do you ever get tired of your collection? What is your turnover rate. How long must we wait? Crab. Crab. Crab. Whine. Whine. Whine. >>
I guess you missed the coins-for-kitchen addition swap during the fall of 2007.
Sure, I turn things over. I will put your name next to this one on the spreadsheet if I ever decide to move it out.
<< <i>Sure, I turn things over. I will put your name next to this one on the spreadsheet if I ever decide to move it out.
Please put my name next to the Eliasberg 1881-S half-eagle in your spreadsheet
You said:
<< <i> Oreville, I do not know what PCGS grades it and do not plan to find out. I think that $20 Libs look nice in NGC holders and have no reason to cross it out. >>
The only reason I assumed it was graded by PCGS was that you cited the PCGS pop count but never mentioned the NGC pop count, so one would assume that it was in a PCGS holder.
It does not look like a XF-45 to me. I can go along with the 35/40 grade range. Just a tad too much wear for a 45 on the high points. Likeable crusty coin and as I said earlier, a keeper.
40 seems fair and I can see the reasoning behind a 45
Experience the World through Numismatics...it's more than you can imagine.
Many of these coins were exported to Europe soon after they were minted, where they were melted and frequently turned into sovereigns and 20 Franc pieces.
The coins that stayed in California actually circulated, as the Californians wouldn't use paper money (not even Greenbacks). In later years, like the 1880s and 1890s, when the coins were a bit worn from circulation (say down to VF or even XF), the coins were returned to the Mints, where they were melted and turned into shiny, new double eagles.
When you think about it, it's a minor miracle that we have as many of these coins today as we do.
Check out the Southern Gold Society
I understand wanting a first year $20 gold from a particular mint. Took me quite a while to find a natural skinned 1906-D that I liked. Only $20 gold that took me longer to find was a natural skinned New Orleans $20 gold.
Experience the World through Numismatics...it's more than you can imagine.
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
<< <i>Great coin! The "S" mint mark looks a little odd. Does it actually go into the eagle? >>
This is usual for the issue. On most 1854 S-mint double eagles, the mintmark touches the tail feathers and is often lightly struck.
The original photo from DWN:
<< <i>Why did you bother to cross this beauty? >>
I have gone all PCGS for my core collection.
TD