Lot 1795
1850 Mormon $5 Gold. PCGS graded AU-55. Attractive golden toning on both sides. The Mormon gold coins of 1849-50 were of superior quality despite the poor equipment they had available to produce them. The coins were all struck using a uniform system of determining weight and fineness. However, due to the softness of the pure gold, the first coins issued quickly showed signs of significant wear. In batches of coins to follow, a small percentage of silver was added to create an alloy, and thus, more durable corns.
The Mormon gold coins were struck mainly so the people within the settlement would have a sound means of exchange to purchase goods produced back East, in the industrial portion of the country. However, some were also traded to the few non-Mormon businesses located in Utah. Because most of the coins were shipped East, there were virtually none left in circulation in the Mormon local market.
This carefully preserved About Uncirculated example is one of the choicest around. A high degree of smooth surface originality expands broadly beneath the shades of warm golden color with its orange accents. Nicely struck with outstanding detail at the eye as well as in the clasped hands. Only light circulation signs from the short time it was used in commercial transactions. Pop 11; 2 finer, 1 in 58, 1 in 61 (PCGS # 10265) .
Estimated Value $30,000 - 35,000.
Ex: Al Blythe Collection.
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| Realized $41,400 |
