Coin Specifications

Category: Liberty Head $20 (1850-1907)
Mint: San Francisco
Mintage: 19,250
Catalog: KM-93
Obverse Designer: James B. Longacre
Reverse Designer: James B. Longacre
Composition: Gold
Fineness: 0.9000
Weight: 33.4360g
AGW: 0.9675oz
Melt Value: $1263.36 (7/28/2014)
Diameter: 34mm
Edge: Reeded
Numismatic specification data provided by Krause Publications NumisMaster.
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1861 S PAQUET $20 MS obverse 1861 S PAQUET $20 MS reverse


  
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Description & Analysis

The 1861-S Paquet Reverse is among the most favored and storied coins in U.S. numismatics. The Liberty Head double eagle series is a long one, measuring nearly six decades in length. But it is one that, although studded with numerous low-mintage rarities, for the most part lacks an abundance of design variations, errors, and varieties.

That is perhaps part of why the 1861-S Paquet Reverse double eagle is so popular, as it offers both of those treasured attributes: It is a numismatic (and conditional) rarity with a small mintage, and a significant design variant by an underrated but interesting Mint engraver, Anthony C. Paquet. The issue is listed in the Top 100 U.S. Coins by Jeff Garrett and Ron Guth.

Despite the French surname, Paquet was born in 1814 in Hamburg, Germany, probably the son of one Toussaint Fran‡ois Paquet, a bronze-worker. The younger Paquet emigrated to America in 1848, at age 34. By the mid-1850s he had an engraving shop in New York City. Paquet hired on at the Mint in 1857 and stayed there until 1864, at which time he re-entered the private sector, but he continued doing contract work for the Mint until as late as 1877. Writing in the Bass catalog, Bowers said of Paquet's pre-Mint days, 'Unfortunately, there seems to be virtually nothing in present numismatic literature to identify tokens, medals, or any other metallic items he may have created prior to coming to the Mint, save for a John C. Fremont campaign medal' with a reverse inscription of 'THE ROCKY MOUNTAINS ECHO BACK FREMONT, etc.'

Although Paquet is known to have designed quite a few pattern pieces, they are unsigned, including 1858-dated quarters and half dollars (Judd-221 through 223), 1859-dated half dollars (Judd-247 through 255) and double eagle patterns of 1859 and 1860 (Judd-260, 272a, 273), and at least one 1877 half dollar (Judd-1540 and 1541), among others.

Paquet also left a rich legacy of Mint medals. Many of them are signed, interestingly, Paquet preferred a script style for his signature rather than the traditional block letters usually seen. Signed Mint medals of Paquet include the important 1860 Washington Cabinet medal (Baker-326, Julian-MT-23) commemorating the establishment of the Mint's collection of Washingtonia. The creation of the Washington Cabinet was, in itself, the likely impetus for many subsequent Mint shenanigans, patterns, and fantasy pieces created as trade bait for the Washington items, but that is a story for another day ...

A curious characteristic of Paquet's work is a peculiar preference for a font (letter style) identified by tall, thick verticals and diagonals on the letters, with thin horizontals and serifs. This font was used on the Paquet Reverse patterns of 1860 and was adopted in late 1860 for the regular-issue double eagles of 1861. Dies were shipped to the branch mints in New Orleans and San Francisco, and the Philadelphia Mint actually produced examples. But Mint Director James Ross Snowden deemed them unsuitable for high-speed production and ordered the entire Philadelphia emission destroyed. Only two pieces of the 1861 Paquet Reverse are known today.

The New Orleans Mint was notified via telegraph in time to halt production of any 1861-O Paquet double eagles--but in the case of San Francisco, there were as yet no transcontinental telegraph wires to allow instantaneous transmission of the order to 'cease and desist.' By the time the San Francisco Mint received the Snowden directive, the facility had struck 19,250 examples of a modified design--apparently all of which promptly entered circulation. There are no Uncirculated examples known today, and most of the 100 or so surviving specimens grade only Very Fine to Extremely Fine.

Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.


GRADE SUMMARY

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Price Guide

Last Updated: 5/28/2014

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1861 S PAQUET $20 MS
  GVGFVF4045505355586061626364656667686970
Base $ 12500 17500 22500 32500 76500 76500 90000 100000 140000 220000 - - - - - - - - - - -
$ 85000 99000 125000 155000 250000 - - - - - - - - -
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Census

 
NGC GRADE SUMMARY

Total Graded: 72
Low Grade: F
Average Grade: 50
High Grade: 58


Upcoming Auctions

A random selection of NGC coins is shown below.

Images
Date
Grade
Auction House
Sale / Lot
8/9/2014 XF 45   Heritage Auctions 2014 August 5, 7 & 9 ANA US Coins Signature Auction - Chicago Session(4), 1208/Lot# 5705


Auction Prices Realized

A random selection of coins is shown below.

Images
Date
Service
Grade
Auction House
Sale / Lot
Price
1/9/2002 NGC AU 58   Heritage Auctions 2002 Orlando, FL (FUN) Signature Sale #280, 280/Lot# 4033 $46,000.00
9/21/2005 NGC AU 53   Heritage Auctions 2005 September Long Beach Signature Auction #384, 384/Lot# 4981 $77,625.00
8/13/2006 NGC AU 55   Heritage Auctions 2006 August Denver, CO Signature & Platinum Night Auction #414, 414/Lot# 5629 $109,250.00
2/14/2007 NGC AU 50   Heritage Auctions 2007 Long Beach, CA Signature Coin Auction #430, 430/Lot# 4920 $63,250.00
2/10/2008 PCGS AU 53   Goldberg February 10-13, 2008 Pre-Long Beach Coin and Currency Auction, 44/Lot# 2545 $92,000.00
5/25/2008 PCGS AU 53   Goldberg May 25-27, 2008 Pre-Long Beach Coin and Currency Auction, 47/Lot# 4472 $96,025.00
6/17/2010 NGC AU 50   Stack's Bowers The June 2010 Baltimore Auction, 41/Lot# 3847 $69,000.00


NGC Registry

NGC Registry Score 1861 S PAQUET $20 MS
 PrAgGVGFVF4045505355586061626364656667686970
Base23632566278130093783546661296685770982708992941513089185322668239036579815980961679635926554867549
24302637285732674344568763147026789685109133106391490321248308004535158590604326231664244662150
0000006314702678968510913310639149032124830800453515859060432623166424400
0000006499736780838751927411864167172396534918516665919961055629546489600
Registry Image Gallery

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