LOT Heritage Rare Coin Galleries  /  2004 May (CSNS) Signature Sale #346 - Session 4  / 

9985

1861-S $20 Paquet AU53 NGC. The Paquet double

Currency:USD Category:Coins & Paper Money / US Coins Start Price:1.00 USD Estimated At:1.00 - 1,000,000.00 USD
1861-S $20 Paquet AU53 NGC. The Paquet double
<table><tr><td><table><tr><td>1861-S $20 Paquet AU53 NGC. The Paquet double eagle was recognized as early as 1865 when a Philadelphia piece sold in a W.E. Woodward sale for $37. However, it appears to have been largely forgotten until the 1930s, when it was "discovered" again and several pieces turned up in European numismatic sources over the next twenty years or so. Collectors over the past forty years have recognized it as an integral part of the set of Liberty double eagles. Condition and abrasions are always a problem for the Paquet twenty. Most are in lower grades, and examples are almost invariably heavily abraded. This is because of the inherent weakness in Anthony Paquet's design. The reverse rim was lowered in relief, and as a result, the surfaces took on a larger-than-usual number of abrasions (except on this coin) because the rim was not present to protect the interior surfaces. It looks like none have survived today in mint condition with the finest pieces certified as AU58. It is very scarce in AU condition with only 16-20 pieces believed extant in all grades from AU50 through AU58. The nicest piece sold in recent memory was the Dallas Bank Collection: 31 coin that was graded "Choice About Uncirculated" by Sotheby's/Stack's. It realized $40,250 which appears to be an auction record for the date. We do not expect this piece to realize a similar price; however, in a market as strong as we are currently in, this coin will surely bring a price that will surprise many. The surfaces have a rich orange-gold coloration and there is a significant amount of original mint luster around the devices, especially on the reverse. Each side is also minimally abraded with no large or distracting blemishes that we find worthy of mention. A premium Paquet twenty. <BR><BR><B>Important notice:</B> Heritage usually auctions material at the rate of 200-250 lots per hour. On some occasions eBay Live bid software or the Internet may not be able to keep up with the pace of the auction. We recommend placing a realistic absentee bid now as insurance to avoid disappointment. Occasionally the auctioneer may eliminate or reject an eBay Live bid, and the auctioneer may also reopen a lot after the close of the eBay live bidding (usually because we missed an audience bid), and may reject your bid even if it shows you as the winning bidder. By bidding via eBay Live, you agree that Heritage may award the lot to another bidder at its sole discretion under the circumstances described above or any other reasonable circumstances. Since eBay bids are not shown to us until we open the lot on the floor, we treat those bids just like floor bids. In most cases the floor responds before the eBay bid is presented to us, due to Internet lag time, so for consistency we have made it a policy that floor bids are always considered first over tie eBay live bids. Also please note that all Heritage lots purchased through eBay Live carry a 20% Buyer's Premium. Please make sure you read the Terms and Conditions before you bid. <BR><BR><B>IMPORTANT ANNOUNCEMENT ABOUT RESERVES:</B> Heritage now divulges all reserves on its web site 7 days before every auction. If you want to know whether the reserve on this lot has been met, and if not, what the reserve amount is, please visit this lot page on the HeritageCoin.com web site, or email: bid@HeritageGalleries.com </span></font></td></tr></table></td></tr></table>
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