Insured for $8 million, the recently sold finest known 1861 Coronet,
Paquet Reverse gold $20 double eagle will be displayed as part of a
$16 million exhibit being staged by Monaco Rare
Coins Jan. 5 to 7 during the Florida United Numismatists convention in Fort Lauderdale.
This is the first time in a decade for the coin to be on public exhibit.
According the participants in the transaction, the Paquet Reverse
double eagle, one of just two examples known, was recently purchased
by Larry Lee, president of Coin and Bullion Reserves in Panama City, Fla.,
from Brian Hendelson, president of Classic Coin Co. in Bridgewater, N.J. Lee is
also principal owner of the George O. Walton example of the 1913
Liberty Head 5-cent coin.
The participants did not disclose a price.
The Paquet Reverse double eagle, graded and encapsulated Mint State
67 by Numismatic
Guaranty Corp., will be displayed at NGC’s table 200 on the FUN
bourse with the 46-coin Horseneck Collection of Type I Double Eagles,
which contains many finest known examples. According to Monaco Vice
President Adam Crum, the Horseneck Collection is also separately
insured for $8 million.
“The Paquet Reverse $20 denomination gold coin is named after
Anthony C. Paquet, a mid-19th century engraver at the United States
Mint, and only a few of them are known from the Philadelphia and San
Francisco Mints dated 1860 and 1861,” explains Crum, author of the
reference book, An Insider’s Guide to Collecting Type I Double Eagles.
“The reverse side of Paquet’s design has slightly taller, [more]
slender letters than the similar reverse design by [Chief] Mint
engraver James B. Longacre on other double eagles of that era.”
The Horseneck Collection comprises 46 double eagles dated from 1850
through 1866, with a dozen coins having been recovered from famous
shipwrecks — the 1857 sinking of the fabled ‘Ship of Gold,’ the SS
Central America; the 1865 wreck of the SS Republic;
and the 1865 sinking of the SS Brother Jonathan.”
The set’s 1854-O Coronet double eagle, graded NGC About Uncirculated
58 and tied for finest known, was recovered from the SS Republic in
2003, Crum said.
Previous owners of the 1861 Paquet Revcerse double eagle include
Lorin G. Parmelee, F.C.C. Boyd, King Farouk I of Egypt and Ambassador
and Mrs. R. Henry Norweb.