Few coins in American numismatic history rival the prestige—or the price tag—of the 1861 Coronet Head $20 Gold Double Eagle featuring the Paquet Reverse. With only two verified examples known from the Philadelphia Mint, this coin isn’t just rare—it’s virtually unmatched. Topping $9 million in value, this ultra-rare gold piece is more than currency; it’s a crown jewel of U.S. coinage.
💡 What Makes the 1861 Paquet Reverse Double Eagle So Special?
💰 The Double Eagle Itself:
- First struck in 1849, the $20 Double Eagle was the largest denomination of U.S. circulating gold coins.
- By 1861, the design bore the classic Coronet Liberty Head, symbolizing power and economic strength during a turbulent era of American history.
⚙️ The Paquet Reverse Innovation:
- Created by Anthony C. Paquet, Assistant Engraver at the U.S. Mint.
- Featured a taller letter font, narrower rim, and larger, more open field than the standard reverse.
- Design adjustments moved the rays closer to the legend and made the circle of stars wider.
🛑 A Short-Lived Change:
- Paquet’s design was approved but quickly recalled.
- Mint officials feared the narrow rim would lead to die breakage and reduced durability.
- The reverse was canceled just days into production—leaving behind a handful of ultra-rare survivors.
💲 The $9 Million+ Coin: Philadelphia’s Paquet Reverse
🔥 At a Glance:
- Coin: 1861 $20 Coronet Head Double Eagle, Paquet Reverse
- Mint: Philadelphia (⚠️ No mint mark)
- Survivors: Only 2 confirmed—a third is rumored but unverified
- Composition: 90% Gold, 10% Copper
- Weight: 33.44 grams
- Diameter: 34 mm
- Estimated Value: $3,068,215 (EF-40) – $9,071,084 (MS-63)
Note: Although 19,250 Paquet Reverse coins were struck in San Francisco (1861-S), only the Philadelphia-minted examples carry this astronomical valuation.
🔍 How to Identify the 1861 Paquet Reverse
Identifying this variety requires attention to precise design features. Here’s how:
✅ Step 1: Date & Mint Verification
- Year: 1861 must appear clearly on the obverse.
- Mint Mark: There must be no mint mark below the eagle—this confirms Philadelphia origin.
✅ Step 2: Reverse Design Comparison
Look for These Paquet-Specific Features:
- Narrower rim than standard issues
- Taller, tighter letters in “UNITED STATES OF AMERICA” and “TWENTY D.”
- Rays above the eagle nearly touch the surrounding legend
- Stars form a wider, more open circle
Comparison Image Tip: If you’re evaluating a coin, compare it side-by-side with known images of standard and Paquet reverses.
🖼️ Obverse Details – Liberty in Profile
- Features Lady Liberty facing left, framed by 13 stars
- “1861” appears below the bust
- This obverse design is consistent across standard and Paquet types, so the reverse is key to ID
💰 Value Chart: 1861 Paquet Reverse Gold Double Eagle
| Grade (Condition) | Value Estimate (USD) |
|---|---|
| Extremely Fine (EF-40) | $3,068,215 |
| Uncirculated (MS-63) | $9,071,084+ |
Even circulated specimens command multi-million dollar values due to the extreme rarity and historical significance.
🛡️ Authentication Is Everything
A coin of this caliber requires top-tier authentication and provenance.
🔒 Trusted Grading Services:
- PCGS (www.pcgs.com)
- NGC (www.ngccoin.com)
📜 Provenance Matters:
- Chain of ownership enhances legitimacy and auction value
- Past sales by Heritage Auctions and Stack’s Bowers often include detailed provenance
🏛️ Where These Coins Are Bought & Sold
Only the world’s premier auction houses handle coins of this magnitude:
- Heritage Auctions – www.ha.com
- Stack’s Bowers Galleries – www.stacksbowers.com
💼 Private Sales are occasionally arranged between major collectors or institutions, often behind closed doors.
📈 2024–2025 Market Trends
- Global Demand Surging: Collectors from Asia, Europe, and the U.S. compete for top-tier American rarities
- Record Prices Expected: With just two known, the next public sale could easily surpass the $9 million mark
- Historical Significance: Coins tied to Civil War-era history continue to climb in desirability
📉 Bear in mind: Market fluctuations rarely impact the highest echelons of rarity. These are museum-grade assets.
🎁 Unlock More at PennyVerse.info
While few collectors will ever own a Paquet Reverse, everyone can enjoy the thrill of rare coin discovery with PennyVerse.
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