Lot 1738
1849 Mormon $5 Gold. PCGS graded AU-50. Light golden toning and quite choice for the grade. A carefully made coin with strong fundamental devices and original luster in the fields and devices. Nicely struck Mormon gold is a rarity since most, though not all, are poorly struck. This piece is close enough to razor-sharp that special mention is merited. Notice in the photographs how the two clasping hands show complete separation of the one hand's thumb, with plainly visible thumbnail! Indeed, the strike of the present coin easily rivals that of some "big name" specimens that have sold in the last fifty years. In an old green label holder. Pop 8; 20 finer (PCGS # 10262) .
The Mormons established the Deseret Mint. December 10, 1848, according to Mormon and Utah Coin and Currency. A man by the name of William I. Follett deposited the first supply of gold, for which he received $232 for 14.5 ounces of gold at $16 per ounce. The gold was then melted, rolled into sheets, and put through punching and coining presses that stamped the finalized designs onto the coins. The first coins struck at the Deseret Mint were of the $10 denomination, of which five were paid to Follett two days later. But the highest production was in the $5 denomination with the pieces dated 1849, 1850, and 1860 (beehive type) being particularly desirable.
Estimated Value $30,000 - 35,000.
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