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Douglas Winter Numismatics Sets World Record With $1.645 Million Dollar Purchase of Excessively Rare U.S. Gold Coin

Douglas Winter Numismatics, a Portland Oregon rare coin firm specializing in choice 18th and 19th century United States gold coinage, recently set a world auction record for a Liberty Head double eagle and for any Liberty Head gold coin by purchasing a PCGS MS61 example of the excessively rare 1861 Paquet Reverse $20.00 for $1,645,000. The coin was purchased out of the just-concluded Heritage 2014 ANA Platinum Night sale where it was offered as Lot 5702.

There are just two 1861 Paquet Reverse double eagles known and this issue is ranked as the fourth rarest regular issue United States coin, after the unique 1870-S half dime and three dollar gold pieces and the 1873-CC No Arrows dime. It is by far the rarest regular issue double eagle, and no set of Liberty Head double eagles can be complete without the inclusion of this issue.

paquet thumb2 Douglas Winter Numismatics Sets World Record With $1.645 Million Dollar Purchase of Excessively Rare U.S. Gold CoinThe coin was immediately sold into an anonymous collector’s set of Type One double eagles, completing this set.

According to Winter, “As far as I know, this is only the third truly complete set of Type One double eagles assembled in modern times, after the Dallas Bank Collection/Jeff Browning collection (sold by Sotheby’s/Stacks in October 2001), and the Charles G. Wright Family collection, sold by Heritage auctions at various sales in 2014. The addition of the Philadelphia Paquet finished the set, and the new owner is thrilled with this purchase.”

The numismatic history of this 1861 Paquet is interesting. It was first offered for sale in the Col. Mendes Cohen collection (Cogan, October 1875) where it brought $26. It appears to have been spent at some time after this and exported to Europe as bullion where it lay until 1965, when it was rediscovered by an American dealer in Paris. It went through various dealers and collections until it was purchased by Jeff Browning who held it until his estate sold it in 2001 for $345,000. It later sold for $1,610,000 in the 2006 ANA auction conducted by Heritage.

According to data provided by Whitman Publishing in the 2015 edition of the Redbook, Winter’s purchase ranks as the 26th most expensive American coin ever sold at auction, and the single most expensive Liberty Head double eagle and Liberty Head gold coin of any denomination.

paquet obv Douglas Winter Numismatics Sets World Record With $1.645 Million Dollar Purchase of Excessively Rare U.S. Gold Coin

The 1861 Paquet Double Eagle, MS61 The Fourth Rarest Regular Issue United States Coin

 

paquet rev Douglas Winter Numismatics Sets World Record With $1.645 Million Dollar Purchase of Excessively Rare U.S. Gold Coin

The Paquet reverse design is modified with letters in a font different from the normal font. The central reverse motif is a heraldic style eagle with a shield covering its breast.

 

About Doug Winter

Doug Winter2 Douglas Winter Numismatics Sets World Record With $1.645 Million Dollar Purchase of Excessively Rare U.S. Gold CoinDoug has spent much of his life in the field of numismatics; beginning collecting coins at the age of seven, and by the time he was ten years old,  buying and selling coins at conventions in the New York City area.

In 1989, he founded Douglas Winter Numismatics, and his firm specializes in buying and selling choice and rare United States coins, especially US gold coins and all branch mint material.

Recognized as one of the leading specialized numismatic firms, Doug is an award winning author of over a dozen numismatic books and the recognized expert on US Gold. His knowledge and exceptional eye for properly graded and original coins has made him one of the most respected figures in the numismatic community and a sought after dealer by collectors and investors looking for professional personalized service, a select inventory of impeccable quality and fair and honest pricing.  Doug is also a major buyer of all US coins and is always looking to purchase collections both large and small.  He can be reached at 214-675-9897.

Doug has been a contributor to the  Guidebook of United States Coins (also known as the “Redbook”) since 1983, Walter Breen’s Encyclopedia of United States and Colonial Coins,  Q. David Bowers’ Encyclopedia of United States Silver Dollars and Andrew Pollock’s United States Pattern and Related Issues

In addition he has authored 13 books on US Gold coins including:

  • Gold Coins of the New Orleans Mint: 1839-1909
  • Gold Coins of the Carson City Mint: 1870 – 1893
  • Gold Coins of the Charlotte Mint: 1838-1861
  • Gold Coins of the Dahlonega Mint 1838-1861
  • The United States $3 Gold Pieces 1854-1889
  • Carson City Gold Coinage 1870-1893: A Rarity and Condition Census Update
  • An Insider’s Guide to Collecting Type One Double Eagles
  • The Connoisseur’s Guide to United States Gold Coins
  • A Collector’s Guide To Indian Head Quarter Eagles
  • The Acadiana Collection of New Orleans Coinage
  • Type Three Double Eagles, 1877-1907: A Numismatic History and Analysis
  • Gold Coins of the Dahlonega Mint, 1838-1861: A Numismatic History and Analysis
  • Type Two Double Eagles, 1866-1876: A Numismatic History and Analysis

Finally Doug is a member of virtually every major numismatic organization, professional trade group and major coin association in the US.

If you are interested in buying or selling classic US coins or if you would  like to have the world’s leading expert work with you assembling a set of coins? Contact Doug Winter at (214) 675-9897 or by email at dwn@ont.com.

Douglas Winter Numismatics can be reached at PO Box 4383 Portland, OR 97208 or by email at dwn@ont.com.

About the Author:

Doug has spent much of his life in the field of numismatics; beginning collecting coins at the age of seven, and by the time he was ten years old, buying and selling coins at conventions in the New York City area. Recognized as one of the leading specialized numismatic firms, Doug is an award winning author of over a dozen numismatic books and the recognized expert on US Gold. His knowledge and exceptional eye for properly graded and original coins has made him one of the most respected figures in the numismatic community and a sought after dealer by collectors and investors looking for professional personalized service, a select inventory of impeccable quality and fair and honest pricing. Doug is also a major buyer of all US coins and is always looking to purchase collections both large and small. If you are interested in buying or selling classic US coins or if you would like to have the world’s leading expert work with you assembling a set of coins? Contact Doug Winter at (214) 675-9897 or by email at dwn@ont.com. RareGoldCoins.com

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