1861 $20 (1861 Double Eagle) NGC AU58 - Aside from mintmarks and the exceedingly rare Paquet Reverse coins of 1861, the Civil War double eagles, all Type 1s, had a uniform appearance. Designed by James B. Longacre, the obverse shows a portrait of Liberty in profile facing left and looking slightly upward. Her hair is tied in the back and two large curls flow down her neck. She wears a LIBERTY inscribed coronet and is surrounded by thirteen six-pointed stars. The date is below the truncation. Dentils are around the peripheries of both sides, and the edge is reeded. Longacre modified the Great Seal of the United States for the coins reverse. The eagle is shown with its head facing left holding the end of an elaborate double scroll in its beak. On the left the scroll is inscribed E PLURIBUS with UNUM on the right. The double scroll was used to represent the new denomination. On the eagles breast is a Union shield that shows six red and seven white stripes. In its talons it holds the arrows and olive branch, symbols of preparedness and peace. Above the eagle is an oval of thirteen stars with rays of different lengths behind the upper stars from wingtip to wingtip. UNITED STATES OF AMERICA is inscribed around the top of the coin, and the denomination, TWENTY D. is below.

James Barton Longacre was born in Pennsylvania in 1794. He became an apprentice to a bookseller and then a banknote engraver in Philadelphia. In 1819 he worked on his own as an engraver and made metal plates for bank notes and book illustrations. His works included one on stage personalities and another on the signers of the Declaration of Independence. In 1830 Longacre and James Herring made plans to do a series of biographies of famous men in the military and in politics. This project became the National Portrait Gallery of Distinguished Americans in four volumes that was first published in 1834. This set of books brought great fame to Longacre and those who worked with him. In 1844, through the influence of John C. Calhoun, Longacre was made Chief Engraver at the Mint, where he succeeded the late Christian Gobrecht. Longacres experience was limited, but he was a talented artist. By 1849 he was able to create the gold dollar and double eagle, the design of which lasted until well into the twentieth century. One of Longacres associates, Chief Coiner Franklin Peale, opposed Longacres appointment and became an obstructionist. Peale ran a lucrative and illicit, private medal-making business using Mint facilities, and he felt that Longacres presence would jeopardize it. In 1854 Peale was fired by President Franklin Pearce, and Longacres life became easier. Longacre remained Chief Engraver throughout the Civil War and until his death in 1869. Coins from Longacres estate were auctioned in 1870. They included patterns, coins of Chile, and regularly issued coins.

At the beginning of the Civil War many northerners were shocked by how well the Confederate soldiers fought. This conflict was to be no mere skirmish but a full blown war. The first Battle of Bull Run ended in defeat for the Union army, and Lincoln appointed George B. McClellan commander of the Union forces. The public became nervous that the Union might not win, and they began hoarding coins.

In 1861 2,976,453 double eagles were struck in Philadelphia. With that large mintage, one would think that the date is common. Yet only 4,210 pieces, a small fraction of the mintage, have been certified in all grades by both grading services, and these numbers do not account for resubmissions or crossovers. In December of 1861 gold sharply rose in value. Large numbers of coins were exported where they were melted. Inflation took hold and drove down the value of paper currency.

The 1861 double eagle is a well struck example of the first year of the Civil War mintage. On the obverse, the centers of the stars and the hair details on top of Libertys head are full. (All of the double eagles of these years have less distinct hair details especially above Libertys ear. Later issues, after 1890 have more detail.) The reverse shows strong detail on the eagle, the shield, and the other devices. Mint luster glows on the surface in protected areas. The grade of AU58 is confirmed by sufficient separation in the lines of Libertys hair and the back portion of the coronet to warrant the grade.

Trying to improve the design, Anthony Paquet modified the reverse by making the letters taller and narrower. This change was put into production and then halted when it was realized that the border was too narrow and didnt have enough of a raised rim to protect the coin. Two coins were made in Philadelphia. However, the order to use the older reverse die came too late to San Francisco, where 19,250 Paquet reverse coins were made. Of that number minted, only 139 have been certified by both grading services indicating that many did not survive and were melted.

An optional addition to the Philadelphia Civil War Set is the 1861-O double eagle. This rare, New Orleans, Civil War dated double eagle has a strong strike as indicated on the obverse by the detailed star centers, Libertys hair, and the eagle on the reverse. The dentils are strong on both sides. Subdued mint luster is seen within the devices. Sufficient separation in the lines of Libertys hair and the lower portion of the coronet are present to warrant the grade. In its population report, PGCS shows 11 1861-O double eagles certified at AU50 with 31 better.

During the Civil War, when Louisiana seceded from the Union, the New Orleans Mint was seized by the state of Louisiana. It then became the Confederacys mint when Louisiana joined the CSA. This historic coin was struck under the aegis of one of the three different governmental authorities. Approximately 5,000 were struck by the Federal government. After it seceded from the union, the state of Louisiana struck 9,750 pieces, and 2,991 coins were struck by the Confederacy. Unfortunately, it is impossible to tell which coins were struck by which government.