1861-S $20 Paquet AU55 NGC. The 1861-S Paquet double eagles are the only collectible remnants of a very interesting e...

Description

1861-S Double Eagle, AU55
Scarce Paquet Reverse
Unusually Choice

1861-S $20 Paquet AU55 NGC. The 1861-S Paquet double eagles are the only collectible remnants of a very interesting experiment in U.S. coinage history. The reverse of the double eagle was redesigned by Anthony C. Paquet, and dies were prepared to start out the 1861 production year, providing a clean break with the prior design. However, after the first double eagles were produced in Philadelphia on January 5, it was determined that the rim was too narrow, and production was discontinued immediately. This quick cessation, combined with the possible melting of almost all produced examples, have made this one of the prime rarities of the double eagle denomination.
     However, the San Francisco variant of the Paquet double eagle is not quite as rare (though it is still scarce). As soon as production was halted in Philadelphia, word was sent to San Francisco to halt production. However, information transmission speeds were slow at the time, as messages had to be taken on horseback from St. Joseph, Missouri, the westernmost point for telegraph lines, to San Francisco. Therefore, the discontinuation message did not reach the Mint until February 2, by which point 19,250 double eagles of the Paquet design had already been struck in San Francisco. An estimated 200 of these coins survive today.
     Most of these survivors are weakly struck, with significant bagmarks. The present offering avoids both fates, with a few minimal bagmarks on the reverse and inside the halo of reverse stars. A touch of the typical weakness exists on the uppermost strands of hair, but all of the reverse feather detail is intact, save for a slight rub on the head. In addition to the lack of abrasions and excellent strike, the present offering is also one of the finest known examples, bested by just a few AU58 certifications and a handful in the lower Mint State grades. NGC Census: 16 in 55, 10 finer (4/26).

Coin Index Numbers: (NGC ID# 269L, PCGS# 8936, Greysheet# 9901)

Weight: 33.44 grams

Metal: Gold

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

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