1861-S $20 Paquet Liberty Head Double Eagle PCGS XF40

Historic Civil War-era rarity from the San Francisco Mint, the 1861-S Paquet Reverse Liberty Head Double Eagle is one of the most celebrated and distinctive issues in the Type One double eagle series.

This $20 gold piece is the Liberty Head double eagle type, featuring James B. Longacre’s left-facing portrait of Liberty on the obverse, her coronet inscribed LIBERTY and encircled by 13 stars, with the date 1861 below. The reverse displays the heraldic eagle with shield, denomination TWENTY D. beneath, and the legend UNITED STATES OF AMERICA above. What sets this coin apart is the famed Paquet reverse, engraved by Assistant Engraver Anthony C. Paquet and immediately recognizable by its taller, more slender lettering and notably narrow rim. On this example, the San Francisco mintmark S appears below the eagle.

Certified PCGS XF40, this example shows the honest, evenly distributed wear expected of the grade while retaining strong overall detail on both sides. Liberty’s portrait remains bold, the coronet lettering is clear, and the reverse eagle and shield are well defined. The surfaces display an attractive warm yellow-gold to deeper honey-gold coloration, with pleasing original character and no major distractions. The strike appears solid for the issue, and the coin offers the wholesome, problem-free appearance advanced collectors seek in this rare variety.

The 1861-S Paquet reverse double eagle occupies a special place in American numismatics. In 1860, Anthony C. Paquet prepared a modified reverse hub for the double eagle, distinguished by its refined lettering and reduced border width. Early in 1861, Mint officials determined that the new design’s narrow rim might not wear well in circulation, and San Francisco was instructed by telegraph to discontinue use and revert to the standard Longacre reverse. That message arrived too late to prevent the release of a substantial number of coins, with $385,000 in 1861-S double eagles already struck and distributed. The issue then slipped into obscurity until its rediscovery in the 1930s, when examples emerged from European holdings and were repatriated to the American market. Today it stands as a major variety and an essential companion to the regular 1861-S issue within serious Type One double eagle collections.

With a mintage of 19,250 pieces, the 1861-S Paquet is a low-mintage and genuinely rare issue. It is one of the classic key varieties of the Liberty Head double eagle series and enjoys strong demand from collectors of U.S. gold, San Francisco coinage, Civil War-era issues, and major design varieties. PCGS reports a population of just 11 examples in XF40, with only 87 finer, underscoring its limited availability in all grades and its especially desirable status as a certified mid-grade survivor.

A prized rarity with historical importance, strong collector recognition, and enduring market appeal, this 1861-S Paquet Reverse double eagle represents an exceptional opportunity to acquire one of the landmark issues in 19th-century United States gold coinage.