Lot 1442
1860 Mormon $5 Gold. NGC graded MS-62. An outstanding Mint original example of this well-designed and historic gold piece from the Great Salt Lake, and probably among the very finest of the 50 or so pieces that exist from an original reported mintage of 472. Balanced light yellow gold color with profuse luster, especially with the protected sections of the margin. Light signs of handling, in harmony with the grade, digs in upper right obverse field above the lion's back, short horizontal dig between legends inside rim at 11:00 on obverse. The reverse shows less chatter than the obverse, and both sides are superbly struck and very attractive to study. Engraved by a Salt Lake City jeweler and struck in the first months of 1861, the 1860 Mormon pieces were to represent the Church's final foray into gold coinage, these inspired by the recent Colorado gold rush that supplied the gold used in their production. The greatest concentration of these are in the EF-AU range, with a piece as fresh-looking as this one necessarily standing among the finest that have survived of this very rare issue.
Well struck and lustrous. Pop 4; 2 in 63. The population in MS-62 has doubled since October 2004, which probably indicates resubmissions in hopes of achieving "finest certified" status. PCGS has certified only one piece as Mint State, a single MS-61 which may also be represented in the NGC certification information.
From the estate of Jack Klausen; certified by PCGS in December 1989, then the finest seen; offered in Heritage's sale of September 2002, Lot 9029. Well struck and lustrious.
Estimated Value $60,000 - 75,000.
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