1849 Mormon Two-and-a-Half Dollar

Coin Details

Auction Record

$235,000 MS63 04-23-2014 Heritage Auctions

Description

The 1849 Mormon Gold Quarter Eagle is the smallest standard denomination produced by the Deseret Mint in Salt Lake City. The two-and-a-half-dollar gold piece served everyday transactions in the Utah Territory, providing a gold coin small enough for routine purchases of goods and services in the isolated mountain settlement. Despite its small size, the quarter eagle carries the same full complement of Mormon religious and fraternal symbolism found on the larger denominations. The obverse inscription "HOLINESS TO THE LORD" surrounds the All-Seeing Eye of Jehovah with its radiating beams and episcopal mitre, proclaiming the theocratic nature of the coinage authority. The reverse clasped hands and "PURE GOLD" inscription maintain the visual continuity of the Mormon gold series across all denominations. The $2.50 denomination presented particular challenges for the Deseret Mint’s rudimentary equipment. Striking a small-diameter gold coin with legible inscriptions and coherent design elements required dies of reasonable quality and sufficient striking pressure. The quarter eagle’s small planchet made die alignment more critical, and surviving examples show varying degrees of strike quality that reflect the limitations of frontier minting technology. Nevertheless, the coins served their purpose effectively within the Mormon community’s closed economic system.

Rarity Notes

Very rare. Estimated 15-25 surviving examples. The quarter eagle is scarcer than the $5 denomination despite its lower face value, suggesting smaller original production. Auction prices typically range from $40,000 to $100,000.

Cross References

NGC #31170