1861 $20 Liberty NGC XF45 CAC

The 1861 $20 Liberty Gold Double Eagle, evaluated as NGC XF45 with a CAC endorsement, offers a fascinating glimpse into the annals of American coinage history. With its subtle signs of wear and distinctive origin at the New Orleans Mint, this coin encapsulates a piece of numismatic heritage. Its NGC XF45 grade and CAC approval not only certify its quality but also heighten its appeal among coin collectors who are captivated by its historical significance and the rarity it represents among pre-Civil War gold coins. On the obverse side of this coin, one encounters the dignified portrayal of Liberty facing left, encircled by a constellation of 13 stars. Her graceful hair flows down to her shoulder, and atop her head rests a crown, or coronet, bearing the raised inscription LIBERTY. The date is positioned at the coin's lower edge. The inspiration for this portrait was drawn from a Greco-Roman statue that deeply impressed the coin's designer, James Longacre. Flipping the coin reveals an eagle with outstretched wings on the reverse side. On its chest, a Union shield is superimposed. The eagle clutches an olive branch in its right talon and arrows in its left talon, symbolizing peace and readiness for defense. Above the eagle's head, an oval encloses 13 stars, surrounded by a intricate pattern of rays. At the coin's bottom, the denomination is expressed as TWENTY D. Notably, the double scrolls flanking the shield are a reference to the double eagle denomination. The left scroll displays the inscription E PLURIBUS in raised relief, while the right scroll features UNUM, also in raised relief. The Type 1 Liberty Head Double Eagles were minted annually from 1850 to 1866, constituting a series that boasts several rare specimens. Mint-state examples are consistently scarce, with the majority falling into the rare category and a significant number being classified as very rare. Branch Mint releases, especially those from New Orleans, are notably scarce, with the New Orleans issues ranking among the scarcest within the series. Interestingly, a substantial portion of the 1861 New Orleans issue was minted under Confederate authority. Unfortunately, it is impossible to distinguish between those struck by the United States and those minted by the Confederate States. According to Breen, roughly 71% of the mintage was produced under Confederate jurisdiction, making it highly likely that any collector in possession of an 1861-O specimen owns a coin struck while the Confederate flag flew over the Mint. Earning legendary status is the 1861 Paquet Reverse issue. In that year, Mint Engraver Anthony Paquet introduced alterations to the reverse design, notably adjusting the lettering and the rim. Paquet's version featured elongated and slender letters, along with a considerably narrower border compared to the original Longacre rendition. While artistically appealing, these changes proved impractical as the narrow rim failed to adequately protect the devices from wear, leading to premature die breakage. Consequently, the Mint Director issued orders to reinstate the old reverse design and instructed the San Francisco Mint to halt the use of the new design via telegram. Only two specimens with the Paquet Reverse from the Philadelphia Mint are known to exist. San Francisco Mint coins are occasionally available, as 19,250 were minted and issued before production was halted. Despite their mintage figure, these coins remain highly sought-after double eagles, commanding a greater value than one might initially expect.