The 1861 Coronet Head Gold $20 Double Eagle, especially the Paquet Reverse variety, is one of the most fascinating coins in American numismatic history. This coin not only represents a time of great change during the Civil War but also showcases a design variation that makes it extremely rare and valuable. The Paquet Reverse design, crafted by Assistant Engraver Anthony C. Paquet, was used for only a small number of coins, making these pieces highly sought after by collectors. Let’s explore the story behind this rare coin, its unique features, and why it’s so special.
History of the 1861 Coronet Head Double Eagle
The 1861 Coronet Head Gold $20 Double Eagle was minted during a time when the United States was on the brink of the Civil War. The regular design was created by James B. Longacre, but a few coins featured a special design by Anthony C. Paquet. The Paquet Reverse featured taller, slimmer lettering and a modified design that was intended to improve the coin’s appearance. However, after only a short run, the design was halted due to minting issues, making these coins extremely rare.
Most of the coins with the Paquet Reverse were melted down, leaving only a few surviving examples today. Those that remain have become treasures in the world of coin collecting due to their unique design and connection to a pivotal time in American history.
Unique Features of the Paquet Reverse
The Paquet Reverse is what sets this coin apart from the standard 1861 Coronet Head Double Eagle. Here’s a look at its unique design features:
- Obverse (Front): The obverse features the classic image of Lady Liberty wearing a coronet, with “LIBERTY” inscribed on it. Her hair flows gracefully, and the date “1861” is displayed below her portrait.
- Reverse (Back) – Paquet Design: The reverse showcases a modified version of the Great Seal of the United States, with an eagle holding a shield, olive branches, and arrows. The Paquet design is noticeable for its taller and more refined lettering around the edge, making it distinct from the regular design.
- Metal Composition: The coin is made of 90% gold and 10% copper, with a weight of about 33.44 grams and a diameter of 34 mm. The gold composition and intricate design make it a visually stunning piece of American history.
Rarity and Value of the 1861 Paquet Reverse Double Eagle
The rarity of the 1861 Coronet Head Double Eagle with the Paquet Reverse makes it highly valuable among collectors. Here’s why it’s so rare:
- Short Production Run: The Paquet Reverse design was halted shortly after production began due to concerns about the design’s suitability for large-scale minting. As a result, very few of these coins were made, and even fewer survived.
- Surviving Examples: Only a handful of these coins are known to exist today. Most of them were melted down, and the surviving pieces are either held in private collections or displayed in museums.
- Auction Records: The value of this coin can reach millions at auctions due to its rarity and historical significance. It is considered a key piece for any serious collector of American coins.
Why the 1861 Paquet Reverse Double Eagle is Special
The 1861 Coronet Head Double Eagle with the Paquet Reverse is more than just a coin; it’s a piece of American history from the Civil War era. It represents a brief moment when a new design was attempted, only to be quickly withdrawn. This short-lived change, combined with the coin’s connection to a turbulent time in American history, makes it highly desirable among collectors and history enthusiasts.
Table: Quick Facts about the 1861 Coronet Head Gold $20 Double Eagle (Paquet Reverse)
Feature | Details |
---|---|
Year Minted | 1861 |
Designer | Anthony C. Paquet (Reverse) |
Metal Content | 90% Gold, 10% Copper |
Weight | 33.44 grams |
Diameter | 34 mm |
Known to Exist | Very few |
Record Sale Price | Over $7 million |
Legality of Ownership | Legal, but highly valuable |
Design | Liberty bust on obverse, modified eagle on reverse |
Conclusion
The 1861 Coronet Head Gold $20 Double Eagle with the Paquet Reverse is a fascinating piece of numismatic history. Its rarity and unique design make it a treasure for collectors, reflecting both the artistry of its time and the historical significance of the Civil War era. Whether in private collections or museum exhibits, this coin continues to capture the imagination of those who appreciate the blend of art, history, and rarity that defines the best of American coinage. Its story serves as a reminder of a time when the nation was undergoing great changes, making it a timeless piece of American heritage.
FAQ’s
1. What makes the 1861 Paquet Reverse Double Eagle different from other coins?
The Paquet Reverse features a special design by Anthony C. Paquet, with taller and more refined lettering, making it distinct from the regular 1861 coins.
2. Why is the 1861 Paquet Reverse Double Eagle so rare?
The design was discontinued shortly after minting began, resulting in a very limited number of coins being produced and even fewer surviving today.
3. How much is the 1861 Paquet Reverse Double Eagle worth?
This coin can fetch millions of dollars at auction due to its extreme rarity and historical significance, with record sales surpassing $7 million.
4. Can I legally own an 1861 Paquet Reverse Double Eagle?
Yes, owning this coin is legal, but due to its rarity, acquiring one would be a significant investment.
5. Where can I see an 1861 Paquet Reverse Double Eagle?
Some surviving examples are displayed in museums, while others are part of private collections.