|
Sale 96
Lot 1351
1861-S. Pacquet reverse. PCGS graded AU-53. Nice light golden toning. The strike is sharp and the surfaces are pleasing to study as there are a minimal nicks on the devices or in the fields. The Mint's assistant engraver, Anthony C. Pacquet was given the task of updating Longacre's master hub for the reverse of the double eagle. His concept left the central device intact but changed the style of lettering around the periphery of the reverse, employing taller and thinner letters for UNITED STATES OF AMERICA and TWENTY D. In making this change somehow the rim of the hub became much narrower as well, thus any struck coins would have their devices and fields more open to contact and wear without the usual thicker style rim. The Mint Director Snowden apparently noticed the narrow rim after initial Philadelphia production in early 1861 and on January 5, 1861 ordered the Philadelphia mintage of these Pacquet reverse coins to be melted. All but two apparently were melted and these survive in private hands today. Snowden telegraphed the San Francisco Mint and told them to use the old style Longacre dies left over from 1860 to continue coinage of the double eagle. However, at least two Pacquet reverse dies had been sent to the San Francisco Mint. No other Pacquet dies were sent to New Orleans, or if they were sent, no coins survive of this style. The "S" Mintmark is rather squeezed into the space below the eagle's tail and nearly touches the tall letters below.
For the San Francisco Pacquet reverse coins, only 19,250 were struck, and perhaps 200 or so exist today. Most of the known coins were discovered in gold hoards in European banks and these survived entirely at random. One example was recovered in the S.S. Republic shipwreck. Of those known today they reflect the usual statistics for a Type 1 double eagle, the majority fall into the VF or EF grade range with a smaller fraction seen as nice as About Uncirculated. No San Francisco Pacquet double eagles apparently survived in Mint State, while both known examples of the Philadelphia Pacquet reverse are Mint State, likely saved as a memento of this attempted design update. Pacquet remains known for his incredible die work making medals at the mint, and while his new style was not adopted because of the narrow rim, his elegant and tall lettering offers a bold glimpse into his artistic talent. Pop 13; 9 finer, 4 in 55, 5 in 58. (PCGS # 8936) Estimate Value $70,000 - 80,000
|
| |
| Realized $85,188 |
|
