The 1861 Coronet Head Gold $20 Double Eagle with the Paquet Reverse is one of the most fascinating coins in American numismatic history. It represents a unique chapter of design innovation and historical significance during a turbulent period in U.S. history. This rare coin offers collectors an intriguing blend of artistry, rarity, and a story deeply tied to the Civil War era.
Let’s explore the coin’s origin, its distinct features, historical significance, and why it’s such a coveted treasure among numismatists.
What is the 1861 Coronet Head Gold $20 Double Eagle?
The 1861 Coronet Head Gold $20 Double Eagle was first introduced in 1850, a result of the California Gold Rush, which provided an abundance of gold for minting coins. The 1861 issue featured the Coronet Head design by James B. Longacre, showcasing Lady Liberty wearing a coronet inscribed with “LIBERTY” on the obverse.
However, what makes the 1861 version extraordinary is the rare “Paquet Reverse.” Designed by Anthony C. Paquet, this reverse design differed from the standard one due to its slimmer lettering and modified details, intended to improve its appearance and minting efficiency.
Why Was the Paquet Reverse Design Abandoned?
The Paquet Reverse was initially approved for use in 1861, but it was short-lived. Concerns arose about the design’s suitability, particularly its thinner border, which was deemed less durable and prone to wear. As a result, the U.S. Mint quickly reverted to the original reverse design. Only a small number of 1861 Coronet Head Gold $20 Double Eagle with the Paquet Reverse were struck, primarily at the Philadelphia and San Francisco Mints.
Distinct Features of the Paquet Reverse
Here are some characteristics that set the Paquet Reverse apart:
- Slimmer Lettering: The letters on the reverse are narrower and more elegant compared to the standard design.
- Modified Border: The border of the coin is less robust, contributing to its aesthetic appeal but raising durability concerns.
- Unique Arrangement: Subtle differences in the arrangement of elements, including the eagle and the inscriptions, make it distinct.
Historical Significance of the Coin
1861 Coronet Head Gold $20 Double Eagle: The 1861 Coronet Head Gold $20 Double Eagle with the Paquet Reverse is tied to the Civil War, a period of immense upheaval in the United States. The coin’s rarity and its production during this era give it a unique historical context.
Rarity and Value
The rarity of this coin is one of its most attractive features. Only a few examples were minted, and even fewer have survived over the years. Some specimens from the San Francisco Mint were shipped overseas, adding to their scarcity in the United States.
In recent years, the 1861 Paquet Reverse Double Eagle has fetched astronomical prices at auctions, often exceeding hundreds of thousands of dollars, depending on its condition.
How to Identify an Authentic 1861 Paquet Reverse Double Eagle?
Collectors must be vigilant about ensuring authenticity due to the high value of this coin. Key identification points include:
- Examining the reverse design for its unique lettering and border.
- Verifying mint marks, especially from Philadelphia or San Francisco.
- Seeking certification from reputable grading services like PCGS or NGC.
Table: Key Features of the 1861 Coronet Head Gold $20 Double Eagle (Paquet Reverse)
| Feature | Details |
|---|---|
| Designer | James B. Longacre (obverse), Anthony C. Paquet (reverse) |
| Composition | 90% gold, 10% copper |
| Weight | 33.44 grams |
| Diameter | 34 mm |
| Mints | Philadelphia, San Francisco |
| Rarity | Extremely rare due to design change |
Conclusion
The 1861 Coronet Head Gold $20 Double Eagle with the Paquet Reverse stands as a testament to a pivotal moment in American history. Its rarity, design innovation, and historical significance make it a prized possession for collectors. Owning or even studying such a coin offers a glimpse into the artistry and challenges of coin production during a time of national crisis.
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FAQs
1. Why is the 1861 Paquet Reverse Double Eagle so rare?
The design was discontinued shortly after it was introduced, and only a limited number were minted.
2. What makes the Paquet Reverse different from the standard design?
The Paquet Reverse features slimmer lettering and a modified border, which distinguish it from the standard reverse design.
3. How much is an 1861 Paquet Reverse Double Eagle worth today?
Depending on its condition, this coin can fetch several hundred thousand dollars or more at auctions.