1849 Mormon Five Dollar

Coin Details

Auction Record

$92,000 AU55 11-07-2006 Stack's

Description

The 1849 Mormon Gold Half Eagle is the most commonly encountered denomination in the Mormon territorial gold series, though "common" is a relative term for these rare frontier coins. The five-dollar piece was the workhorse denomination of the Deseret Mint, produced in larger quantities than the $10 and $20 denominations and suitable for a wider range of everyday commercial transactions in the Utah Territory economy. The design follows the standard Mormon gold format: the obverse displays "HOLINESS TO THE LORD" around the All-Seeing Eye with radiating glory and bishop’s mitre, while the reverse shows clasped hands with "PURE GOLD" and "FIVE DOLLARS." These design elements remained remarkably consistent across all Mormon gold denominations, creating a unified visual identity for the territorial coinage that reflected both religious authority and economic function. The 1849 date marks the beginning of organized coinage in Utah Territory. Brigham Young recognized that a functioning economy required reliable money, and the gold brought from California provided the raw material for a local mint. The Deseret Mint’s five-dollar pieces circulated widely within the Mormon community and were generally accepted at face value among members, though non-Mormon merchants in surrounding territories sometimes discounted them based on assays that showed the coins contained somewhat less gold than their stated denomination.

Rarity Notes

Rare but the most available Mormon gold denomination. Estimated 40-60 surviving examples. Auction prices typically range from $25,000 to $75,000.