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All Posts Tagged With: "Paquet Reverse"

Classic Coin to Display Two Ultra Rare Double Eagles in Boston Valued at $18 Million

“Coins Worthy of a King” the 1861-P Paquet and 1921 Proof Double Eagles in Historic ANA Exhibit

An $18 million display of two rare Double Eagles accompanied by Boston-related early Americana will be one of the exhibit highlights in the Museum Showcase area at the American Numismatic Association World’s Fair of Money convention in Boston, August 10 – 14, 2010.

1861-P Paquet $20 NGC MS67:  Formerly in the famous Farouk and Norweb collections, this 1861 Philadelphia Mint "Paquet Reverse" gold $20, graded NGC MS67, will be displayed at the ANA World's Fair of Money in Boston courtesy of Brian Hendelson of Classic Coin Co.  (Photo courtesy of Numismatic Guaranty Corporation.)The coins in this first-ever display are the finer each of the two known 1861 Philadelphia Mint “Paquet Reverse” gold $20, graded NGC MS67, and 1921 Proof Roman Finish Saint-Gaudens Double Eagle, graded NGC SP64.

[PHOTO CAPTION: 1861-P Paquet $20 NGC MS67 – Formerly in the famous Farouk and Norweb collections, this 1861 Philadelphia Mint “Paquet Reverse” gold $20, graded NGC MS67, will be displayed at the ANA World’s Fair of Money in Boston courtesy of Brian Hendelson of Classic Coin Co. (Photo courtesy of Numismatic Guaranty Corporation.)]

Insured for $8 million each, they are being provided for the ANA exhibit by Brian Hendelson, President of Classic Coin Co. of Bridgewater, New Jersey.

“This will be the first time both coins have ever been displayed at the same time and location. It will be a once-in-a-lifetime opportunity for thousands of visitors to see them together up close,” he said.

In addition to these two coins, other historic items in the display from Hendelson’s own collection include one of the few known surviving broadsides of the Declaration of Independence printed in Boston circa July 17, 1776 by printers Gill, Powars and Willis; seven silver spoons crafted by legendary Boston patriot Paul Revere; and a silver teapot and knee buckles made by fellow Colonial era Boston silversmith, Jacob Hurd, that were acquired by a New England family in 1785 and passed down to their heirs for over two centuries.

In descriptive text prepared for the exhibit, ANA Museum Curator Douglas Mudd headlines the Paquet design Double Eagle as “a coin fit for a king.” One of its former owners was the notorious King Farouk of Egypt who amassed a fabled coin collection before he was deposed in 1952. It also was in the famous coin collection of Ambassador and Mrs. R. Henry Norweb.

Nearly three million Double Eagles were struck in 1861 at the Philadelphia Mint, but today only two are known with a slightly modified design on the reverse made by Assistant Mint Engraver, Anthony Paquet, who also engraved the first Congressional Medal of Merit. His lettering on the $20 coin is taller and more slender than the design originally created in 1857 by Chief Engraver James Longacre. (more…)

Bowers and Merena’s Baltimore Coin Auction Exceeds $8 Million

Expo featured Windermere Collection of Rare Date Liberty Double Eagles

[CoinLink News] – Bowers and Merena Auctions, one of the world’s preeminent auctioneers for rare coins and currency, realized more than $8 million as the Official Auctioneer of the June 2010 Whitman Coin & Collectibles Baltimore Expo. The eight-session sale, occurring June 17-19, included more than 6,000 lots of U.S. coins and currency, ancient and foreign coins, and foreign paper money. Prices realized for U.S. coins and currencies amounted to $6,438,778. Ponterio & Associates, a division of Bowers and Merena Auctions, added an additional $1,608,082 in prices realized with ancient and foreign coins and paper money.

“Our highly successful June 2010 Baltimore Auction saw spirited bidding for many different areas of U.S. numismatics,” said Steve Deeds, president of Bowers and Merena Auctions. “Specialists in classic gold coinage were particularly enthused about our offering of the Windermere Collection of rare date Liberty Double Eagles. The highlight of that collection is clearly lot 3847, the 1861-S A.C. Paquet Reverse in NGC AU-50 that traded hands for $69,000. “

An important and rare one-year type, the 1861-S Paquet features an experimental reverse that proved unsuitable for regular issue production and widespread circulation. The San Francisco Mint struck only 19,250 examples of this issue before returning to the traditional Liberty Double Eagle reverse design by Chief Engraver James Barton Longacre.

“For Ponterio & Associates, the most notable sale was lot 8278, an extremely rare Kublai Khan, the fifth Great Khan and grandson of Genghis Khan, 50 Tael Sycee Ingot. Issued in Year 14 (A.D. 1273) of China’s Yuan Dynasty, the piece realized $64,900,” said Rick Ponterio, executive vice president of Ponterio & Associates. “Iranian bank notes and Chinese coinage also proved to be particularly popular.”

Additional U.S., ancient and foreign coin and currency highlights in the Bowers and Merena and Ponterio & Associates June 2010 Baltimore Auction include:

* Lot 178, 1881 Hawaii Pattern Five Cents, Medcalf-Russsell 2CN-1, MS-64 (PCGS), Secure Holder, realized $28,750
* Lot 1658, 1937-D Buffalo Nickel, FS-901 (FS-020.2), 3-Legged, MS-65 (PCGS), CAC, realized $37,375
* Lot 2030, 1864 Seated Liberty Quarter, MS-67 (PCGS), realized $26,450
* Lot 3411, 1872 Pattern Commercial Dollar, Judd-1217, Proof-64 RB (PCGS), realized $25,875 (one of only three specimens known to exist) (more…)

1861-S Paquet $20 Gold Double Eagle to be offered at Central States Coin Show

Despite the common misconception, Anthony C. Paquet was born in 1814 not in France but in Germany–specifically, Hamburg–of French ancestry. His father, reportedly Toussaint François Paquet, was a bronze worker. “Anthony” could equally likely have been named with the German form “Anton” or the French “Antoine,” anglicizing his name upon coming to America in October 1848.

Mint Chief Engraver James B. Longacre was some 20 years Paquet’s senior, born in 1794 and having been hired at the Mint in 1844 after the death of Christian Gobrecht. Although evidence is sketchy, it appears that Longacre may have prevented Paquet from showing his true potential at the Philadelphia Mint.

Paquet worked as an engraver and/or die-maker in Philadelphia from 1850 through 1855 and in New York City in 1856-57. He was hired as an assistant Mint engraver in October 1857, moving back to Philadelphia where he lived at 402 Blight Street, according to an 1860 city directory. He worked for the Mint as assistant engraver until 1864, afterward completing occasional Mint assignments on a contract basis.

Paquet furnished letter punches for pattern coinage, possibly the same punches that were used on the 1857 Flying Eagle cents. Paquet’s lettering was extremely tall with thin vertical strokes, producing an unusual effect.

Andrew W. Pollock III in United States Patterns and Related Issues illustrates (Pollock-3131; Judd-A-1857-1) an interesting uniface experimental piece showing the varying diameters of the dime, quarter, and half dollar with the legend UNITED STATES OF AMERICA inscribed within each. Pollock notes that “the lettering is similar to that featured on many pattern coins attributed to Anthony Paquet.”

The Paquet Reverse double eagles of 1861 are among the few U.S. circulating coinage designs that can be definitively attributed to Paquet. The memorable Paquet design lacked a broad rim, making the coins prone to extensive abrasion, and the design was recalled soon after its inception. All but two of the Philadelphia Mint pieces struck were melted, but the San Francisco Mint struck some 19,250 pieces before news of the recall reached that distant facility.

The variety was promptly forgotten until 1937 when it was announced in Numismatic News. Today most certified examples are in the XF-AU range with a few dozen pieces each certified at NGC and PCGS, making it the rarest S-mint Type One double eagle.

This is one of the few high grade examples that have surfaced over the past 70 years. The surfaces are bright yellow-gold and noticeable traces of mint luster surround the peripheral devices. Each side is remarkably free from the distractions that normally plague these coins. The reason for the frequently seen abrasions is attributed to Paquet’s lowered rim, a design feature that allegedly gave the interior design features less protections from contact with other coins. The design motifs are sharply defined throughout. This is a rarely offered opportunity for the astute collector of 19th gold. Census: 16 in 50, 29 finer (3/10)

Offered as Lot 2306 in the Heritage 2010 April-May Milwaukee, WI CSNS US Coin Auction #1139