LOT Old Heritage Auctions  /  2008 April Rosemont, IL (CSNS) US Coin #1104  / 

2495

1861-S $20 Paquet AU53 PCGS

Currency:USD Category:Coins & Paper Money / US Coins Start Price:87,500.00 USD Estimated At:1.00 - 1,000,000.00 USD
1861-S $20 Paquet AU53 PCGS
<B>1861-S $20 Paquet AU53 PCGS.</B></I> The experimental reverse design that Anthony C. Paquet created for the double eagle was considered problematical, and was discontinued almost before it was used. Only because of communication difficulties are the San Francisco Mint examples of the design available to collectors.<BR> Paquet was born of French ancestry in Hamburg, Germany, in 1814, and emigrated to the United States in 1848. It is believed that his father was Tuissaint Francois Paquet. He was a member of the Mint engraving staff from 1857 until 1864, although he did related work at other times. His artistic talent was never realized during his service to the Mint. In <I>Numismatic Art in America</B></I> (second edition, page 75), Cornelius Vermeule writes: "Paquet has been criticized for having been a mediocre engraver, but study of his coins and patterns reveals he never really had an opportunity to unleash his talents on the coinage because Longacre, the chief engraver, did all the work himself."<BR> For many years the Paquet reverse double eagles were thought to be patterns, but recent evidence suggests that they were intended for circulation. The existence of San Francisco Mint pieces establishes the intent, since patterns were only coined in Philadelphia. The design was considered unsatisfactory as the field diameter was slightly different than the standard obverse diameter, and it was felt the difference would create problems striking coins. Word was sent to San Francisco to discontinue use of the new dies, but that Mint had already coined and released to circulation 19,250 pieces before they received the communication.<BR> Nearly all surviving examples are well circulated, typically VF or XF grade. PCGS has only certified 34 pieces in grades better than XF, including resubmissions. Those coins include 17 AU50s, 10 AU53s, five AU55s, and two AU58s. The California grading service has never graded a Mint State piece. This splendid piece exhibits considerable luster and outstanding surfaces with few of the usual abrasions that are normally found on the large double eagles. <BR><BR><B>Coin Engraver:</B> James B. Longacre<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
Sign In to Bookmark Lot