Lot 1862
1857-S. PCGS graded AU-55. Mostly untoned. A lustrous, well struck example from the early San Francisco Mint. Much of the bullion deposited for coinage during the California Gold Rush went into $20 gold pieces as the handiest size for bulk transport. That much of this Mint's production went to East Coast banking centers is attested to by the famous Panic of 1857. A banking panic raged in New York, Philadelphia, Boston and other money centers. When the SS Central America side-wheel steamship sank off the coast of the Carolinas with its cargo of much needed 1857-S $20 gold pieces that year, the Panic intensified. The gold was urgently needed to stem the ongoing bank runs by depositors (PCGS # 8922) .
Estimated Value $2,100 - 2,200.
|
| |
| Realized $3,408 |
