A DOUBLE Eagle coin, one of the rarest coins in American numismatics, sold for over $7 million at auction.
The highly sought after $20 gold coin, with another still circulating in the numismatic world, raked in far more than its face value at auction.
Coins deemed as valuable by collectors can bring in a pretty penny.
For example, a 1861 Paquet Reverse Double Eagle, with a face value of just $20, sold via Heritage Auctions in 2021 for a jaw dropping $7.2 million.
Created by designer Anthony Paquet, it is a rare variation of the $20 gold coin minted during the Civil War era.
The obverse of the coin features the classic design by James Longacre, the chief engraver of the US Mint at the time.
It depicts Lady Liberty wearing a small crown and 13 stars representing the original American colonies.
The Paquet variation comes into play on the coin’s reverse, which features a few changes to the standard reverse design of the double eagle.
The back of the rare coin shows an eagle with outstretched wings as well as thinner lettering and a narrower rim.
The Paquet Reverse design was created to replace the standard reverse design for the $20 gold double eagle in 1861, but was quickly discontinued.
Only a handful of the variation was produced because of concerns about the practicality of the narrower rim design, viewed as unsuitable for mass minting.
There are two examples circulating from the Philadelphia Mint, with the coin that sold for $7.2 million – in Mint State 67 – viewed as the finer of the two, according to Heritage Auctions.
Exact detail on the obverse of your quarter to make it worth $74,400 – but you need to look for the pinkish/olive hues
“This example stands at the absolute pinnacle of rarity and exquisite condition,” reads the coin description.
A handful of the Paquet Reverse design coins were made at the San Francisco Mint, and these are also extraordinarily rare.
FLYING HIGH
A double eagle coin is a US gold coin with a face value of $20.
These coins were first introduced in 1849 and officially minted for circulation starting in 1850, following the passage of the Coinage Act of 1849.
Rare coins
You may be holding something valuable in your wallet. Check out these articles on rare coins to see if you may have a treasure hidden deep in your pockets.
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- Lincoln double die obverse penny sells for $2,000
- Half cent sells for $3,383
- Rare nickel sells for $1,956 on eBay
- 1889 CC Morgan Silver dollar coin sells for $1,850
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Considered a significant piece of American numismatic history, the double eagle is one of the largest denominations of US gold coins ever made.
The term “double eagle” comes from it being worth two times a $10 gold coin, known as the eagle.
They were first introduced during the California Gold Rush, which allowed the US Mint to create larger denominations of gold coins.
Double eagle coins are made of 90% gold and 10% copper.
Some of the rarest examples of double eagle coins include the 1861 Paquet Reverse and 1933 Double Eagle, one of which auctioned for a record $18.8 million in 2021 at Sotheby’s.
The National Collection holds at least 10 examples of the 1933 double eagle coins, and it is highly likely that others exist and are still circulating in the numismatic world.
However, only one is legally permitted for private ownership under US law.
Check out these other rare coins worth millions.
Your sought-after Liberty nickel may be worth $4.5 million – but you need to look for the “glittering” surface.
Plus, the four coins to check in your change that could be worth over $1.7 million.
