LOT #4789 |
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1860 $5 Mormon Five Dollar MS62 NGC. K-6, High R.5....
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Sold on Jan 10, 2019 for:
$90,000.00
Bid Source: HA.com/Live bidder
Description
1860 Mormon Five Dollar, MS62
Famous Crouching Lion Design, K-6
Struck From Colorado Gold
1860 $5 Mormon Five Dollar MS62 NGC. K-6, High R.5. The
Mormon coinage of 1860 was limited to the five dollar denomination
and the design was more artistic and better executed than the
simple motifs used on the earlier issues of 1849 and 1850. The
obverse featured a reclining lion on a bed of grass by a river,
facing left, with the legend HOLINESS TO THE LORD spelled out in
the newly invented Deseret alphabet around, and the date below. The
central reverse device was an eagle with wings spread, facing left,
behind a beehive. The legend DESERET ASSAY OFFICE PURE GOLD
encircles the eagle, with the denomination 5.D. below. The D shows
definite signs of recutting.Gold was discovered in Colorado in 1858 and enough gold dust reached the Mormon community in Salt Lake City to provide the bullion for a modest new coinage program. At the request of Brigham Young, jeweler J.M. Barlow established a rudimentary mint in his jewelry shop and forged the dies for the prospective coinage. Assisted by Douglas Brown, Barlow struck a small mintage of 472 half eagles of the new design between February 28 and March 9 of 1861. Unlike the earlier Mormon issues, the "Lion" coins of 1860 were of full weight and value, as they were struck from Colorado gold that was .917 fine. Despite the higher quality of the new coinage, the ill repute of the earlier issues made the coins unpopular outside the Mormon community, where they were only accepted at a steep discount. Territorial Governor Alfred Cumming prohibited private coinage operations as soon as he became aware of the project in 1861, bringing the final attempt at a separate Mormon coinage to an end. The great majority of the 1860 Mormon mintage was turned in to Treasury outlets at an early date and melted for recoinage, making the issue elusive today.
The present coin is an attractive MS62 specimen, with well-detailed design elements that show intricate detail in the lion's mane and the beehive. The pleasing orange-gold surfaces radiate vibrant mint luster and show the expected number of minor contact marks for the grade. The overall presentation is most appealing. Listed on page 410 of the 2019 Guide Book. Census: 6 in 62, 3 finer (10/18).
From The HBC Collection.
View all of [The HBC Collection ]
Auction Info
2019 January 9 - 14 FUN US Coins Signature Auction - Orlando #1291 (go to Auction Home page)
Auction Dates
January, 2019
9th-14th
Wednesday-Monday
Bids + Registered Phone Bidders: 33
Lot Tracking Activity: N/A
Page Views: 957
Buyer's Premium per Lot:
20% of the successful bid per lot.
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