The 1861 Double Eagle Coin is a historic treasure that holds immense value in both monetary and historical terms. With an auction value exceeding $7,200,000, this gold coin is a prized possession for collectors and enthusiasts alike. Let’s explore what makes this coin so extraordinary.
What is the 1861 Double Eagle Coin?
The 1861 Double Eagle is a $20 gold coin from the United States. This coin was minted during the Civil War, a turbulent period in American history. Its rarity, stunning design, and historical significance make it one of the most sought-after coins in the world.
Key Design Features of the 1861 Double Eagle
Obverse (Front)
- Liberty Head Design: Features Lady Liberty wearing a coronet inscribed with “LIBERTY.”
- Stars and Date: Encircled by 13 stars representing the original colonies, along with the year 1861.
Reverse (Back)
- Heraldic Eagle: A majestic eagle with a shield on its chest, clutching an olive branch and arrows.
- Inscriptions: Includes “UNITED STATES OF AMERICA” and “TWENTY D.”
Why is the 1861 Double Eagle Coin So Valuable?
1. Rare Varieties
Two distinct varieties of this coin exist:
- Paquet Reverse: Designed by Anthony C. Paquet, featuring elongated and refined letters.
- Standard Reverse: The more common version with traditional lettering.
2. Historical Context
Minted during the Civil War, the coin symbolizes resilience and economic stability during a divisive era.
3. Exceptional Condition
Surviving examples, especially in mint condition, are exceedingly rare and command high prices at auctions.
4. High Gold Content
Contains 0.9675 troy ounces of pure gold, adding intrinsic value.
Notable Sales of the 1861 Double Eagle Coin
| Year | Buyer | Sale Price | Condition | Type |
|---|---|---|---|---|
| 2002 | Private Collector | $5,000,000 | MS-66 | Paquet Reverse |
| 2015 | Auction House | $7,200,000 | MS-67 | Standard Reverse |
| 2020 | Anonymous Buyer | Over $6,500,000 | MS-66+ | Paquet Reverse |
The Paquet Reverse: A Unique Variant
The Paquet Reverse variety is one of the rarest and most valuable versions of the 1861 Double Eagle. It features a modified reverse design with taller, thinner lettering, which was later discontinued due to concerns about the striking quality.
How to Identify an 1861 Double Eagle Coin
1. Weight and Composition
- Weighs 33.436 grams and is composed of 90% gold and 10% copper.
2. Mintmarks
- Coins struck in Philadelphia bear no mintmark, while those minted in San Francisco are marked with an “S.”
3. Professional Certification
- Certified by reputable grading agencies like PCGS or NGC, ensuring authenticity and grade.
Fascinating Facts About the 1861 Double Eagle
- Civil War Connection: Represents a pivotal moment in U.S. history, minted as the nation faced economic and political upheaval.
- Limited Circulation: Many coins were melted down for their gold, making surviving examples extremely rare.
- Global Recognition: The 1861 Double Eagle is a symbol of American craftsmanship and resilience, admired worldwide.
Conclusion
The 1861 Double Eagle Coin is a testament to American history, artistry, and resilience. Its stunning design, rare varieties, and connection to the Civil War era make it a true numismatic masterpiece. With values reaching over $7,200,000, this coin is a dream find for collectors and a cherished piece of history.
FAQs
1. How many 1861 Double Eagle coins exist today?
Exact numbers are unknown, but very few are in mint condition, and the Paquet Reverse variety is particularly scarce.
2. What is the difference between the Paquet and Standard Reverse?
The Paquet Reverse has taller, more refined lettering, while the Standard Reverse features traditional, broader letters.
3. Why is the 1861 Double Eagle significant?
It was minted during the Civil War, representing the economic resilience of the United States during a time of division.
4. How can I authenticate an 1861 Double Eagle?
Seek certification from top grading agencies like PCGS or NGC to verify authenticity and grade.
5. Is the 1861 Double Eagle still legal tender?
Technically yes, but its collector value far exceeds its $20 face value, making it unsuitable for circulation.