1861-S $20 Paquet AU55 PCGS....

Description

1861-S Paquet Reverse Twenty Dollar, AU55
Significant Remaining Luster

1861-S $20 Paquet AU55 PCGS. The Breen Complete Encyclopedia (1988) calls the Paquet Reverse twenties of 1861 an "abortive attempt to improve the design," although he provides no documentation of such a claim. There seems to be no independent evidence that any Mint or Treasury personnel thought the design, in fact, needed improving -- especially since the original design, by James B. Longacre, had already been in circulation for more than a decade since 1850. Many millions of double eagles had been struck in the intervening years, most of them from freshly mined California gold, and the design would endure for decades hence with only trivial modifications. All of which makes one wonder why Anthony Paquet modified the reverse, and how it was adopted by Mint personnel.

The lack of a protective raised rim around the edge of the design meant that the Paquet Reverse twenties were more than normally susceptible to wear and abrasions. The 19,250 pieces minted in San Francisco entered circulation and were largely forgotten. The occasional numismatic notice was made, but it was 1954 before Breen wrote about the variety extensively in Numisma, the house journal of New Netherlands Coin Co. By that time, the only source left to supply Paquet twenties was bullion holdings of twenties, mostly in Europe. Most of the pieces located over the past 70 years are VF or XF. Several dozen AU examples have been found, and a mere two Uncirculated coins are known.

This piece retains significant mint luster around the devices and the strike definition is even across each side. The obverse is more abraded than the reverse, and it to the obverse we must look for the most reliable pedigree identifier: a checked-shaped abrasion above star 13. The color is even reddish-gold throughout.
From The Music City Collection.(Registry values: N7079)

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

Weight: 33.44 grams

Metal: 90% Gold, 10% Copper

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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