1861 $20 Paquet Reverse MS61

CERTIFICATION#: -4523
PCGS#: 8933

Owner's Comments

Expert Comments

David Akers (1975/88): This is the rarest regular issue U.S. Double Eagle but it is also one of the least publicized. For a great many years it was widely considered to be a pattern but more recent research has shown it to have been intended for actual circulation. However, before any were released, the entire mintage was recalled and melted. The number originally struck is not known but only two specimens can be accounted for today. One is in the Norweb Collection and is the specimen from the Farouk sale. Although I am not absolutely certain, I believe this to be the same coin that was sold in the famous Parmelee sale of 1890. The Parmelee coin was undoubtedly the piece from the 1865 Woodward Sale (March 20, 1865) where it was lot 2818 and sold for $37.00 (quite a high price for the time - remember this was only four years after the coin was struck) to a "Mr. French." It was described by Woodward as "Perfect Uncirculated. Said to be unique." The second known specimen is now in a prominent Dallas bank collection. This coin, earlier provenance unknown, was purchased by Paramount International Coin Corporation's European buyer, Paul Whittlin, in Paris in the mid-1960's for $7,500. It was authenticated by the U.S. Treasury Department (common practice in those days on incoming shipments of rare U.S. gold coins from Europe) and then sold to Ben Dreiske of RARCOA for $12,500. Ten years later it was sold into the Texas bank collection for a sum reportedly in excess of a quarter of a million dollars.

 

Diameter: 34.00 millimeters Designer: James Barton Longacre Edge: Reeded
Mintage: 2,976,453 Weight: 33.40 grams Metal Content: 90% Gold, 10% Copper

Rarity and Survival Estimates

Grades Survival Estimate Numismatic Rarity Relative Rarity by Type Relative Rarity by Series
All Grades 2 R-9.9 1 / 44 1 / 148
60 or Better 2 R-9.9 4 / 44 TIE 4 / 148 TIE
65 or Better 1 R-10.0 1 / 44 1 / 148

Condition Census

Pos Grade Thumbnail Pedigree and History
1 MS67 estimated grade  

Seavey-F.C.C. Boyd-Norweb Specimen

Woodward 3/1865:2818, $37 -
William Jenks -
Seavey (purchased from Jenks) -
Lorin G. Parmelee (purchased from Seavey 1873) -
New York Coin Co. 6/1890:1817, $44 -
George Woodside -
New York Coin Co. 4/1892:115, $37.50 -
M.A. Brown -
S.H. & H. Chapman 4/1897:53, $52.50 -
Virgil M. Brand (Journal #17021) -
Armin Brand (inherited from brother Virgil 1932) -
B.G. Johnson (purchased from Armin Brand 12/1936 for $500) -
F.C.C. Boyd (purchased from B.G. Johnson 12/1943 for $650) -
Abe Kosoff (purchased from Boyd 1943 for $1,250) -
King Farouk of Egypt (purchased from Kosoff, Schulman, Friedberg for $3,250) -
Sotheby's 2/1954:289, $1170.30 -
Mrs. Norweb (purchased from New Netherlands Coin Co. 1954 for $5,000) -
Bowers & Merena 11/1988:3984, $660,000 -
MTB -
Unknown buyer -
Offered for sale by Monaco Rare Coins -
Brian Hendelson, President of Classic Coin Co. of Bridgewater, New Jersey

P. Scott Rubin provided the bulk of this pedigree

2 MS61 PCGS grade  

Dallas Bank Collection Specimen

Col. M.I. Cohen -
Cogan 10/1875:1314, $26 -
George Cram -
Strobridge 3/1877:597, $22.25 -
Unknown -
Paul Wittlin discovered coin in Paris, 1965, for Paramount -
Ben Dreiske of RARCOA purchased from Paramount for $12,500 -
Abe Kosoff purchased from RARCOA -
A collector identified as being from North Carolina -
Mike Brownlee with Abe Kosoff purchased from North Carolina collector for H. Jeff Browning -
H. Jeff Browning (Dallas Bank Collection) -
Sotheby's/Stack’s 10/2001:30, $345,000 -
Wyoming Collection -
Heritage 8/2006:5623, $1,610,000

*P. Scott Rubin provided the bulk of this pedigree