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Lot
5781

1849 $5 Mormon Five Dollar AU55 NGC. K-2, R.5. Despite the inscription G.S.L.C.P.G. (for Great Salt Lake City Pure Gold), t...

2006 August Denver, CO Signature & Platinum Night Auction #414

 
Sold for: Not Sold
Auction Ended On: Aug 14, 2006
Item Activity: 3 Internet/mail/phone bidders
150 page views
Location: Denver, CO
Description:
Rare Choice AU 1849 Mormon Five
1849 $5 Mormon Five Dollar AU55 NGC. K-2, R.5. Despite the inscription G.S.L.C.P.G. (for Great Salt Lake City Pure Gold), the Mormon coins were made of unalloyed California gold. Although when they first entered the marketplace they circulated as far east as St. Louis, when assays showed them to be not only of improper fineness, but also underweight. They were widely reviled, and when they circulated they were accepted only at a discount of 10% to 25%. The 8 in the date is always weak on this variety, although on this piece it is plainer than usual, and the all-seeing eye of Jehovah is well struck, with only slight weakness. The surfaces are an attractive greenish-gold, with no mentionable abrasions and some faded mint luster still present. An attractive specimen of this rare and historic coinage. Census: 4 in 55, 10 finer (7/06). (PCGS# 10262)

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