1861-S $20 PAQUET

Description

1861-S Paquet XF 40. A nice, evenly worn, still lustrous example of this rare issue. Akers calls this "the rarest Liberty Head Double Eagle from the San Francisco Mint. Its only really close competitor for that distinction is the 1866-S No Motto but, in my opinion, there are more of the latter in existence than there are 1861-S Paquets." At a casual glance, few observers would notice any difference between the Paquet and the normal reverse. However, a side-by-side comparison reveals several differences, most notably in the lettering. The width of the central element is also greater and the stars are placed lower in the rays which appear above them.
The Paquet reverse failed because the rim was too narrow and the surfaces of the coin were exposed to too much abrasion. Despite a seemingly high mintage of slightly less than 20,000 pieces, the 1861-S Paquet reverse was not noticed until 1937. Breen notes that, "Paul Wittlin turned up 25-30 in French and Swiss banks in the mid-1950s, mostly VF to EF with plenty of bagmarks." Apparently, these account for most of the known specimens.

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

Metal: 90% Gold, 10% Copper
Weight: 33.44 grams
AGW: 0.9675oz

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.