S.S. CENTRAL AMERICA - ONE OF 100 GREATEST U.S. COINS

By Jeff Garrett and Ron Guth

Jeff Garrett is Treasurer of the Professional Numismatists Guild, to which he has belonged since 1982, and a life member of the American Numismatic Association. Over the course of his career, he has handled nearly every United States' rarity.

Garrett names the coins of the S.S. Central America wreck among the 100 greatest U.S. coins in his book of the same name.

Below is an excerpt from his discussion of these coins.

On September 12, 1857, the steamship SS Central America sank in the Atlantic Ocean, 200 miles off the coast of North Carolina, on the way to New York with treasure fresh from the California Gold Rush. On board was an incredible quantity of gold bars, gold dust and over 7,000 gold coins. Unfortunately, nearly 600 people were also making the trip home from the land of opportunity. When the ship sank below the waves, 425 lives were lost. The story of the SS Central America is one of the most heart wrenching episodes of bravery and courage in American history. Because of the Herculean effort on the part of the passengers and crew, 153 passengers survived the ravages of the storm.

The ship and her golden bounty lay on the ocean floor in 7,200 feet of water for the next 130 years. In 1985, a group of explorers and investors formed the Columbus-American Discovery Group to locate the treasure. The wreck was found in September 1986. It was one of the largest discoveries of treasure ever found. Over the next few years, the artifacts were brought to the surface. A legal battle ensued with insurance companies over the ownership of the find. A settlement was reached, and the gold was finally brought to market.

Nearly all of the 1857-S Double Eagles from the SS Central America are pristine in appearance, and some very choice examples of a few earlier issues, notably 1856-S, were found as well. Prior to the find, early Double Eagles from the 1850s were nearly impossible to locate in higher states of preservation. Now, for a relatively small investment, one can own a tangible piece of this incredibly important chapter of American history.

It has been reported that the movie rights to the fascinating book Ship of Gold in the Deep Blue Sea have been purchased by a major movie studio. The story of the SS Central America is captivating, and the 1857-S Double Eagles may one day appear on the silver screen.

Designed by James B. Longacre. The obverse features the portrait of Miss Liberty facing left, wearing a coronet, and surrounded by 13 stars. The reverse features an outspread eagle and shield design. Mintage for this issue is 970,500 coins. Standards: weight 33.436 grams; composition .900 gold/ .100 copper; diameter 34 mm; net weight 0.9675 oz. pure gold. Edge: reeded.

Rarity: Prior to the discovery of the SS Central America hoard, the 1857-S Double Eagles was moderately scarce, but virtually unknown in choice condition. The SS Central America hoard contained over 5000 examples of the 1857-S, many of which are incredible, radiant Gems. The fabulous preservation of these treasure coins is what makes this issue truly great. No other coins from this period can be found in nearly the same condition as the day they left the Mint.

To learn more about this historic collection, call 1-877-376-2646. or fill in your name and number to have a Goldline Account Executive contact you…hopefully before these coins disappear again.

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