One 1849 gold $5 Mormon coin issued by the Deseret Assay Office under the authority of the Mormon Church in Utah. The obverse depicts two hands clasped together above the date and surrounded by "G.S.L.C.P.G. FIVE. DOLLARS." The reverse with the all-seeing eye surrounded by "HOLINESS. TO. THE. LORD." Graded by PCGS as N98 with AU detail and genuine but not gradable due to a repair along the edge.
Though the abbreviation of "G.S.L.C.P.G." along the obverse stands for "Great Salt Lake City Pure Gold" the gold actually came from California, not Utah. It was the usage of this unrefined California gold dust, which contained some native silver alloy, that caused a 1850 assay of the coins to find them underweight. Due to this, many were likely melted down or, if they were circulated at all, they were taken at a discount. It is estimated that between 1848-1851 there were approximately 5,340 Mormon $5 gold coins struck based on an extrapolation of a 1950 figure of $75,000 for gold issues struck between this time.Diameter: 22 mm
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