The 1855-S $20 double eagle is usually very well struck, but eye appeal is often hampered by bagmarks and subdued luster. Discerning collectors of San Francisco mint coins will take caution to hunt for a truly premium example. Circulated examples are readily available up through Extremely Fine, with AU pieces remaining just slightly scarcer. Once considered a great rarity, quantities of Mint State coins were recovered from the wrecks of the SS Central America and the SS Republic, and an estimated 150-200 Uncirculated examples exist today.

We wrote the following in our April 2022 Auction Catalog, saying: "The San Francisco Mint struck 879,675 double eagles in 1855, as production of double eagles was in high gear owing to the continuing influx of gold from the region's gold fields. The mintage of the 1855-S, in fact, is more than six times that of 1854, when the San Francisco Mint was getting started and gaining speed. Most examples of this issue were used in commerce on the West Coast.

Prior to the discovery and salvage of the S.S. Central America treasure, the 1855-S was a major condition rarity in Mint State. Of the 304 examples recovered from that shipwreck, 63 coins were in Mint State preservation. A smaller number of Uncirculated coins were found in an earlier shipwreck salvage off the coast of Florida during the 1970s, although those coins are noticeably impaired with granular surfaces from years of immersion in sea water. The S.S. Central America coins, however, have been expertly preserved and now account for the majority of Mint State 1855-S twenties certified by PCGS and NGC."

The example to the left was sold by Stack's Bowers Galleries in August 2012 as part of the Pueblo Collection, where it realized $44,062. It is pedigreed to the S.S. Central America.