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Lot
9027

1849 $5 Mormon Five Dollar XF45 PCGS. K-2, R.5. After the ...

2002 September Long Beach Signature Sale #300

 
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Auction Ended On: Sep 28, 2002
Item Activity: 6 Internet/mail/phone bidders
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Location: Long Beach, CA
Description:
Rare 1849 Mormon Five Dollar, XF45
1849 $5 Mormon Five Dollar XF45 PCGS. K-2, R.5. After the Gold Rush in California began in earnest in 1848, at the end of that year enough gold dust had found its way into the Mormon's church treasury to begin private gold coinage. On November 25th of that year, Brigham Young, John Kay, and John Taylor got together and created the symbols used on these unique and interesting territorial coins. Apparently official production records were not kept (or have subsequently been lost) and today we do not know the exact number of pieces struck. However, Breen estimates the total to be around 5,300 coins. Of course, far fewer are extant today as most were melted in the 1850s because they were underweight and of little use in the channels of commerce. This is the first of the three Five Dollar issues produced by the Deseret Assay Office and it is a rare coin, especially above Very Fine. The surfaces are bright green-gold with rich accents of coppery-red around the devices. Sharply defined on each side, the only noticeable mark is a short cut in the obverse field below the right corner of the miter's cap. This is the most common of the Mormon coinage and is quite attractive. Listed on page 301 of the 2002 Guide Book.
From The Estate of Jack L. Klausen. (PCGS# 10262)

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