Hold Sunken Treasure in Your Hands

You don’t have to be a pirate to enjoy this treasure.

Today we have a special offer of U.S. gold coinage that was recovered from a shipwreck!

For almost 140 years, these Civil War-era $20 Liberty Double Eagle coins were thought to be lost to history… until they were rediscovered in 2003.

$20 Liberties are highly desirable for collectors of American coins worldwide, but the extraordinary circumstances that brought these coins from under the sea into your hands make these particular coins a truly unique and valuable collector’s item.

The S.S. Republic
The S.S. Republic was a sidewheel steamship that went down in a hurricane off the coast of Georgia in 1865. Most of the passengers and crew survived, but it’s cargo of $400,000 in coins, mostly in gold $10 and $20 pieces, was thought to be lost to the ocean for all time. That $400,000 would be worth many, many millions of dollars today, were it to exist. The cargo was intended to help the financially devastated city of New Orleans recover and rebuild after the Civil War.

The Republic left New York City on October 18, 1865, bound for New Orleans, but never made it. On the fifth day of the voyage, battered by hurricane force gales and surging seas, her hull began to leak, extinguishing the fire in the boiler room and she stalled in heavy seas as crewmen tried desperately to bail water. On October 25, 1865, she sank, disappearing under the waves for nearly 140 years.

In 2003, the wreck was found 100 mi (160 km) off the coast of Savannah, Georgia by a commercial archaeology company.

However, salvage efforts recovered only about one-third of the rare 19th-century gold and silver coins carried aboard, worth an estimated $75 million USD. Many artifacts and coinage recovered from the shipwreck are in museums today, but a selection have made their way to the open market for private collectors. 

Among these coins were Type I $20 Liberty Head gold coins, $10 Liberty (or Coronet Head) gold coins, and silver Seated Liberty Half Dollars.

Unlike other recently salvaged shipwrecks, a wide variety of dates and mints ranging from the 1840’s to 1865 were documented in this remarkable hoard including many of the finest-known examples of United States gold and silver coins from this period in history.

$20 Liberty Rarity and Desirability
The $20 Liberty Head Double Eagles recovered from the S.S. Republic have survived through remarkable circumstances, and many were found in quite remarkable condition! But any higher grade $20 Liberty is a highly desirable numismatic item, with Civil War-era issues even more so!

The Civil War was a defining and pivotal event in U.S. history. Its effect on American society simply cannot be overstated, as the conflict affected virtually every aspect of daily life. The country’s monetary system was no exception. As is often the case during tumultuous times, precious metals prices skyrocketed during the Civil War. Consequently, most American coins suddenly had a higher melt value than face value.

Since they were worth more “dead” than alive, many American gold coins vanished from circulation.

Eventually the U.S. government devised a solution: paper money.

With paper currency filling the gap in the money system, coinage production plummeted. Gold coins were affected most profoundly; all denominations saw a dramatic drop in their annual mintages. In some extreme cases, the U.S. Mint essentially halted production altogether. The Quarter Eagle, for instance, was struck to the tune of 1.1 million pieces in 1861. By 1863, just thirty proofs were made for collectors and zero for circulation!

Of the few coins released into circulation from this time, precious few survived. Many landed in the melting pot within mere months of issue, as untold quantities of U.S. gold coins were destroyed during the 1860's. Those that escaped the Civil War were subjected to further melting when President Roosevelt banned private gold ownership in 1933. Between the tiny mintages and mass melting, gold coins from the Civil War are wildly scarce.

So, the survival rate of Civil War-era $20 Liberty Double Eagles is already quite low. For circulated coins from this time to survive intact and unblemished to be graded About Uncirculated and Mint State condition is even more rare.

No double eagle of the 1850-1866 type is plentiful in Mint State. For these particular coins minted in 1861-1865 to have survived that time period and a shipwreck unscathed… well, what are the odds?

It cannot be understated how rare of an opportunity this limited selection of coins is.

Today's Spotlight Offer

For a limited time, we are able to offer a small, exclusive selection of $20 Liberty Head Double Eagles that were recovered from the S.S. Republic. These coins are dated from 1861-1865 in varying grades.

Each coin we offer here has been independently inspected and certified by the uncompromising standards of Numismatic Guaranty Company (NGC), Professional Coin Grading Service (PCGS), or Certified Acceptance Corporation (CAC) to be in About Uncirculated (AU53 through AU58) or Mint State (MS61 through MS63) condition. Each coin comes in a protective slab.

• 1861-P $20 Liberty in AU53 for $8,899. The “P” mintmark designates that it was minted in Philadelphia. Of an original mintage of nearly 3 million, just 7,125 1861 $20 Liberties are estimated to have survived today in all grades. Of that, a total of 305 were found on the S.S. Republic including 200 in Uncirculated condition. Just 702 total exist in this grade worldwide.
• 1861-S $20 Liberty in AU55 for $9,799. The “S” mintmark designates that it was minted in San Francisco. 81 of these were found in the S.S. Republic including 11 which were graded Uncirculated by NGC. Of an original mintage of roughly 750,000, only 184 total exist in this grade.
• 1862-S $20 Liberty in AU55 for $9,499. The “S” mintmark designates that it was minted in San Francisco. Of an original mintage of over 850,000, just 2,500 or so are estimated to have survived today in all grades. Just 239 total exist in this grade.
• 1863-S $20 Liberty in AU55 for $9,799. The “S” mintmark designates that it was minted in San Francisco. Of the 966,000 minted, only 3,145 exist in all grades. Just 360 total exist in this grade.
• 1864-S $20 Liberty in AU58 for $9,799. The “S” mintmark designates that it was minted in San Francisco. The 1864-S is quite rare by S-Mint standards. A total of 153 were found in the S.S. Republic in all grades. Only 185 total exist in this grade.

If any particular issue has caught your attention, additional photos and details are available upon request. Please call us today at +1 301-881-8600 or email us.

Uniquely Rare Issues

• 1865-P $20 Liberty in MS63 for $23,899. The “P” mintmark designates that it was minted in Philadelphia. Prior to the discovery of the S.S. Republic, only two or three were even known to exist graded higher than MS62. According to PCGS, this coin has a numismatic rarity rating of 8.9/10 in grades of MS60 or higher, making this specimen a real catch.

 
1865-P $20 Liberty in MS63

This unbeatable combination of rarity and value will likely generate tremendous client interest. Coins with such intriguing backstories never stay in our inventory for long.

If you’d like to reserve one of these Civil War-era Double Eagles, we urge you to do so quickly. Take advantage of this chance to acquire some of America’s most unique gold coins at a truly exceptional price! Call us at 800-831-0007, or email infoasi@assetstrategies.com.

*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 is included. Offer expires Friday, February 7, 2025 or while supplies last.