The 1861 Coronet Head Gold $20 Double Eagle with Paquet Reverse is one of the most fascinating coins in American history. Known for its distinct reverse design and rarity, this gold coin holds a special place among collectors and history enthusiasts. Its story is closely tied to the Civil War era, making it a valuable and sought-after piece. In this article, we’ll explore the details of this coin, its design, history, and current value.
What is the 1861 Coronet Head Gold $20 Double Eagle with Paquet Reverse?
The 1861 Coronet Head Gold $20 Double Eagle is a gold coin minted by the United States Mint. It has a face value of $20, which was a significant amount in the 19th century. The coin is part of the Coronet Head series, featuring a design by James B. Longacre, a prominent engraver. The 1861 edition is especially notable because it features the Paquet Reverse, named after assistant engraver Anthony C. Paquet, who made changes to the reverse side of the coin.
Design Features of the 1861 Coronet Head Gold $20 Double Eagle
The design of the 1861 Coronet Head Gold $20 Double Eagle is unique due to its Paquet Reverse. Here’s a breakdown of its design elements:
Obverse (Front) Design:
- Lady Liberty: The front of the coin shows Lady Liberty with flowing hair, wearing a crown with the word LIBERTY.
- 13 Stars: Surrounding Liberty are 13 stars, representing the original colonies of the United States.
- Date: The year 1861 is engraved at the bottom, marking its time of issue.
Reverse (Back) Design – Paquet Reverse:
- Eagle with Shield: The reverse side showcases an eagle with a shield on its chest, holding arrows and an olive branch, symbolizing strength and peace.
- United States of America: The inscription is written around the eagle, identifying the coin’s origin.
- Twenty D.: The denomination TWENTY D. is inscribed, indicating the coin’s face value.
History and Significance of the Paquet Reverse
The Paquet Reverse is what sets the 1861 edition apart. Here’s a brief history:
- Design Change: In 1861, Anthony C. Paquet modified the reverse design to have a more elegant and refined appearance. His changes included thinner lettering and taller shield lines.
- Mint Recall: However, the design was quickly recalled because of concerns that the changes might affect the coin’s durability. Most of these coins were melted down, making the few that remain extremely rare.
- Surviving Coins: Only a limited number of these coins with the Paquet Reverse exist today, which adds to their rarity and desirability among collectors.
Value of the 1861 Coronet Head Gold $20 Double Eagle
The value of the 1861 Coronet Head Gold $20 Double Eagle with the Paquet Reverse is influenced by various factors. Here’s a table that outlines what affects its worth:
| Factor | Details |
|---|---|
| Rarity | Few coins were made and survived, making it extremely rare. |
| Condition/Grade | Higher-grade coins are worth more. Grades like MS (Mint State) fetch high prices. |
| Historical Significance | Its link to the Civil War era makes it a valuable collectible. |
| Market Demand | Interest from collectors and investors affects its market price. |
How Much is the 1861 Coronet Head Gold $20 Double Eagle Worth?
The 1861 Coronet Head Gold $20 Double Eagle with Paquet Reverse can fetch anywhere from $10,000 for lower-grade coins to over $200,000 for those in excellent condition. At auctions, coins in near-perfect states have sold for even higher prices due to their historical importance and rarity.
Tips for Collecting the 1861 Coronet Head Gold $20 Double Eagle
If you’re considering adding this unique coin to your collection, keep these tips in mind:
- Get the Coin Graded: Ensure the coin is graded by reputable services like PCGS or NGC to verify authenticity and condition.
- Understand the Market: Monitor current auction prices and market trends to make informed purchasing decisions.
- Store Properly: Keep the coin in a secure and temperature-controlled environment to maintain its condition.
Conclusion
The 1861 Coronet Head Gold $20 Double Eagle with Paquet Reverse is a rare gem in the world of coin collecting. Its unique design, limited production, and connection to a crucial period in American history make it a valuable piece for both collectors and history enthusiasts. With proper care and a bit of market knowledge, owning such a coin is like holding a piece of history in your hands. Whether you are a seasoned collector or just starting, this coin is a symbol of America’s rich past and the art of coin minting.
FAQ’s
Q1: Why is the 1861 Coronet Head Gold $20 Double Eagle with Paquet Reverse rare?
A: The coin’s rarity comes from its limited production and the recall of the Paquet Reverse design.
Q2: How can I verify the authenticity of the 1861 Coronet Head Gold $20 Double Eagle?
A: Have it graded by services like PCGS or NGC for authentication.
Q3: What does the Paquet Reverse design feature?
A: It has a thinner lettering and a more refined eagle design, making it different from standard issues.
Q4: How much is this coin worth today?
A: Prices range from $10,000 to over $200,000, depending on condition and market demand.
Q5: What should I consider before buying this coin?
A: Make sure the coin is authenticated, understand current market trends, and store it safely to maintain its value.