No Better Time for San Francisco Gold
By Brian Zweig
There has probably never been a better time to start a collection of San Francisco Double Eagles. There are significant quantities of exceptional coins in the market, and price levels are the most favorable they have been for many years. Collectors have become recently more appreciative of the rarity of the seven issues from San Francisco, and we expect demand (and value) to increase in the coming years.
The $20 gold pieces of the 1850’s have always been considered special, and many are scarce or very rare. Those from the San Francisco mint have a unique historical background because it was the California Gold Rush that made the establishment of that minting facility necessary. Vast quantities of gold were coined and much of it was shipped to the east coast. This was dangerous, and a major loss occurred when the S.S. Central America sank in a September 1857 hurricane, loaded with California gold pieces, much it of in the form of double eagles.
When this wreck was recovered from the ocean floor in the 1990’s, thousands of San Francisco $20 gold pieces were recovered, mostly of the 1857, 1856 and 1855 mintages. As a result, those pieces are relatively common today. However, coins produced after that disaster are far rarer today, and the 1859-S is one of those dates.
By 1859, the output of $20 coins at San Francisco had dropped considerably, with only 636,445 coins struck, and those remaining entered the channels of commerce in the increasingly tense years leading up to the Civil War. Because these coins went straight into circulation, they were almost never kept as bank reserves, souvenirs, or keepsakes. However, a recent discovery included a small hoard of these 1859-S $20 pieces that had been undisturbed for many decades, and this is what we are offering today.
The 1859-S is similar in overall and high-grade rarity to the 1861-S, making it most suitable for a year set of Type One Double Eagles. Out of those struck, less than 2,000 remain across all grades, and we have 40 available for purchase today in XF45. As always, our Spotlight coins are slabbed and certified graded by either PCGS or NGC so that you can trust they will have great eye appeal, and a crusty patina despite their considerable wear in this grade.
There is strong potential for an increase in demand for the San Francisco gold market in the coming years as these coins have been under-appreciated for years. It is inevitable that collectors—and dealers—will shift their focus to this alternative from the Carson City coins which have been the “go to” choice for most dated gold collectors since the 1970’s. That’s why we think that one or more 1859-S Double Eagles from a secluded hoard would be a fantastic choice to add to your collection at this time.
As with many of our offers, these coins will not last long, and they may not come around again for a while.
1859-S $20 Liberty Head Double Eagle in XF45
$2,199 per coin*
Buy 3 or more for just $2,149 per coin*
As with many of our offers, these coins will not last long, and they may not come around again for a while. Take advantage of this special offer by calling us at 800-831-0007, or by email at firstname.lastname@example.org.
*Prices subject to change based on market fluctuation and product availability. Prices reflected are for cash, check, or bank wire. Free shipping, handling, and insurance are available for all quantities ordered. Offer expires Friday, November 8th, 2019, or while supplies last.