Coins from the 19th century hold an undeniable charm for collectors. Among these rare and valuable pieces, the 1861 S Coronet Head Gold $20 Double Eagle stands out, especially due to its unique “Paquet Reverse.” This coin is not just a treasure of American numismatics but a symbol of a time when the nation was dealing with civil war and financial uncertainty.
In this article, we’ll explore the 1861 S Coronet Head Gold $20 Double Eagle, its history, design, and the significance of the Paquet Reverse. Whether you’re a seasoned coin collector or a history buff, you’ll find plenty of information to appreciate this extraordinary piece of American currency.
Introduction to the 1861 S Coronet Head Gold $20 Double Eagle
The 1861 S Coronet Head Gold $20 Double Eagle is a gold coin minted in 1861 at the San Francisco Mint. It is one of the rarest and most sought-after coins in American history. Its value today is influenced not just by its gold content but by the historical context and unique features that make it stand out from other coins from that era.
The coin features a portrait of Liberty on the obverse, designed by James B. Longacre, with the words “Liberty” inscribed across the top. On the reverse side, the coin displays an eagle, with its wings spread, holding arrows and an olive branch.
The Paquet Reverse: What Makes It Unique?
The Paquet Reverse is perhaps the most distinguishing feature of this coin. Initially, the reverse design of the $20 Double Eagle featured a more traditional eagle design. However, engraver Anthony C. Paquet introduced a new reverse design that included different lettering and a more stylized, detailed eagle. The Paquet Reverse had a bold and distinctive look that was later deemed too dramatic.
Unfortunately for Paquet, his design didn’t last long. The coin, with its Paquet Reverse, was only produced for a short period in 1861 before being redesigned. This brief period of circulation and production makes it one of the most coveted coins among collectors today.
Value and Rarity of the 1861 S Coronet Head Gold $20 Double Eagle
Due to the rarity of the 1861 S Coronet Head Gold $20 Double Eagle with the Paquet Reverse, the value of these coins can be quite high. While the exact value depends on factors like condition, demand, and market trends, some specimens of this coin can sell for hundreds of thousands of dollars at auction.
Key Features:
| Feature | Details |
|---|---|
| Year of Minting | 1861 |
| Mint | San Francisco Mint (S) |
| Design | Obverse: Coronet Head, Reverse: Paquet Reverse |
| Composition | 90% Gold, 10% Copper |
| Weight | 33.44 grams (1.075 oz) |
| Diameter | 34 mm |
| Mintage | Low mintage, fewer than 20 known to exist |
| Value | Varies depending on condition; can range from $200,000 to over $1 million for rare specimens |
The Historical Context of the Coin
The year 1861 marked a turbulent time in American history, with the nation on the brink of the Civil War. The San Francisco Mint was still relatively new, having opened just a few years earlier. Minting the Double Eagle in this period represented the strength and economic potential of the United States, even in the face of conflict.
The Paquet Reverse itself is tied to a period of innovation in coin design. Although the design was quickly changed, it left a lasting legacy in numismatics as one of the most famous coin errors in history.
Why Is the 1861 S Coronet Head Gold $20 Double Eagle So Valuable?
Several factors contribute to the value of the 1861 S Coronet Head Gold $20 Double Eagle, including:
- Rarity: Only a few examples of the Paquet Reverse are known to exist today, making it an incredibly rare find.
- Historical Significance: The coin was minted during the Civil War era, a time of great national turmoil.
- Unique Design: The Paquet Reverse, with its bold and distinctive eagle design, adds to the coin’s appeal to collectors.
- Gold Content: As a gold coin, its intrinsic value is also tied to the price of gold, making it a valuable asset beyond its numismatic value.
Conclusion
The 1861 S Coronet Head Gold $20 Double Eagle with the Paquet Reverse is more than just a coin—it’s a piece of American history. Its rarity, unique design, and connection to the Civil War era make it a prized possession for collectors. Whether you’re looking to add it to your collection or simply appreciate its historical significance, this coin is a fascinating example of the intricate artistry and tumultuous period in which it was created.
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FAQs
How can I tell if my 1861 S Coronet Head Gold $20 Double Eagle has the Paquet Reverse?
The Paquet Reverse features a more dramatic eagle design with distinctive, smaller letters and more detail on the reverse side of the coin.
What is the value of an 1861 S Coronet Head Gold $20 Double Eagle today?
The value varies depending on its condition and rarity, with some specimens selling for over $1 million in top condition.
How rare is the 1861 S Coronet Head Gold $20 Double Eagle?
The Paquet Reverse version is extremely rare, with fewer than 20 examples known to exist today.
Why was the Paquet Reverse changed?
The design was too bold and was eventually deemed unsuitable for circulation, leading to a redesign after only a brief period of minting.
Where can I find an 1861 S Coronet Head Gold $20 Double Eagle?
These coins are typically sold through auctions, private dealers, and sometimes in major numismatic exhibitions due to their rarity.