Adam Crum Plans Exhibits For $1.6 Million 1861-P Paquet $20
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 (Newport
Beach, California) -- Describing it as "a spectacular rarity," Adam
Crum, Vice President of Monaco Rare Coins of Newport Beach, California,
was the winning bidder for the 1861 Philadelphia Mint "Paquet Reverse"
Double Eagle at the Heritage Auction Galleries sale in Denver, Colorado,
August 14.
The coin will go on public display starting in January. The winning
bid was $1,600,000, including the 15 percent buyer's fee.
"This is a spectacular rarity, one of only two known and the fourth
rarest U.S.-minted coin," said Crum. "There's a lot of intrigue about
why they stopped minting them, and Type One Double Eagles are a popular
series. Given the strength of the coin market and this coin's rarity, I
was prepared to pay more. This coin will be publicly exhibited starting
at the FUN convention this coming January."
The coin is one of only two known surviving examples of $20
denomination Double Eagle gold pieces specially made at the Philadelphia
Mint in 1861. It is graded PCGS MS-61. Nearly three million Double Eagle
gold pieces were struck in 1861 in Philadelphia, but today only two are
known with a slightly modified tail's side design made by Assistant Mint
Engraver, Anthony Paquet. He also is known among Mint historians as the
engraver of the first Congressional Medal of Merit.
"The historic coin was owned by a retired Wyoming oilman who
purchased it for $345,000 five years ago," said Greg Rohan, President of
Heritage Auction Galleries of Dallas, Texas, the auction firm that sold
the coin for $1.6 million.
Liberty Head design $20 denomination gold coins were struck for
circulation from 1850 to 1866. Crum is co-author with Doug Winter of the
recently-published reference book, "An Insider's Guide to Collecting
Type I Double Eagles" ###
News media contact: Adam Crum, (949) 752-1933 x 4900 |
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