Rare Mormon Gold Coin Resurfaces
Rare Mormon Gold Coin Resurfaces: A Numismatic Discovery for the Ages
After more than fifty years in hiding, an exceptional 1849 Mormon $20 gold piece emerges to captivate collectors and rewrite numismatic history
Introduction
A treasure locked away for more than fifty years has now resurfaced, and this piece—an 1849 Mormon gold $20—is causing quite a stir in the numismatic community. What makes this discovery even more remarkable is the coin's pristine condition, so exceptional that it surpasses even the renowned Josiah K. Lilly gold coin collection housed in the Smithsonian Institution's National Museum of American History.
This extraordinary find represents more than just a rare coin; it's a window into the fascinating world of territorial gold and the unique monetary systems that emerged during America's westward expansion. For collectors and investors interested in acquiring precious metals with historical significance, Mormon gold pieces represent some of the most sought-after treasures in American numismatics.
Table of Contents
The remarkable discovery that stunned experts
"This new discovery coin is, in my opinion, superior to the Lilly coin, and as such [is] the finest known example of this historically important U.S. gold coin rarity," declared David Hall, president of Collectors Universe, parent company of the Professional Coin Grading Service (PCGS). "I've been paying attention to 'Territorial' gold for 46 years, and this is the finest Mormon $20 I have ever seen."
Exceptional Grade
The piece was graded Mint State 62 by PCGS, representing extraordinary preservation for a coin of this age and historical significance.
Historical Importance
Mormon gold pieces represent a unique chapter in American monetary history, issued by a religious community establishing their own currency system in Utah Territory.
Extreme Rarity
These $20 gold pieces are incredibly rare, with current market values approaching $100,000 each for examples in good condition.
Provenance Mystery
The coin's disappearance for over five decades adds intrigue to its already fascinating story, making its emergence a major numismatic event.
Expert Assessment
The coin's emergence represents a significant find in American numismatics. For collectors tracking gold values, territorial pieces like this Mormon $20 command premiums far exceeding their gold content due to their historical significance and extreme scarcity.
Legend of the Mormon gold mint and the great heist
In 1848, a settlement was erected atop the plains of Utah, called Great Salt Lake City. For two years, the community struggled without a stable currency, hampering commerce and trade. The President of the Mormon Church, Brigham Young, proposed an innovative solution: the minting of precious metal coins in a small outbuilding that would become the town's new mint.
The Mormon Mint Operations
According to church records, the facility produced $2½, $5, $10, and $20 gold pieces, with the $10 coins being the most scarce. Even those records are incomplete—after assessing the wear and tear of the original dies, numismatists believe more than fifty $10 pieces were struck, still an exceptionally low number in numismatic terms.
| Denomination | Production Level | Current Rarity |
|---|---|---|
| $2½ Gold | Moderate | Very Rare |
| $5 Gold | Higher | Extremely Rare |
| $10 Gold | Lowest (~50 pieces) | Museum Quality |
| $20 Gold | Very Low | Nearly Priceless |
The Legendary Heist
This treasure trove was not heavily guarded, and when night fell, it was not guarded at all. Legend has it that persons unknown, passing through the city, learned of the mint through casual conversation with the locals. Under the cover of darkness, they forced their way into the mint and relieved the townspeople of this fortune. When morning came and the theft was discovered, a frantic search team was assembled, but the bandits and their stolen treasure were never recovered.
The story behind Mormon territorial coinage
According to The Official Red Book guide of American coinage, the first name given to the organized Mormon Territory was the 'State of Deseret,' with the last word meaning 'honeybee.' The beehive, shown on the reverse of various Mormon gold pieces, was a favorite symbol of the followers of Joseph Smith and Brigham Young.
Mormon Symbolism
- The beehive represented industry and cooperation
- Clasped hands appeared on most Mormon coins
- They exemplified "strength in unity"
- "HOLINESS TO THE LORD" was frequently inscribed
Practical Necessity
The mint was "inaugurated late in 1848 as a public convenience" according to historical records. In the Wild West era, trustworthy banking services and hard money were scarce, making private territorial coinage essential for commerce.
Understanding territorial gold pieces and their rarity
Mormon gold was part of a broader phenomenon of "territorial gold" pieces that circulated throughout the American West during the mid-1800s. These privately minted coins filled a crucial gap in the monetary system when official U.S. Mint coins were scarce in frontier regions.
Common Denominations
- $2.50 quarter eagles
- $5 half eagles
- $10 eagles
- $20 double eagles
Many closely resembled official government issues in design and weight standards.
Regional Varieties
- California Gold Rush pieces
- Colorado territorial gold
- Mormon Utah gold
- Oregon territorial coins
Modern Collectibility
- Extremely rare survival rates
- High historical significance
- Premium collector demand
- Museum-quality examples
Investment Appeal
- Intrinsic gold value foundation
- Historical premium multiplier
- Numismatic appreciation potential
- Portfolio diversification benefits
Why Mormon gold commands premium prices today
Today, these rare Mormon gold pieces would be worth almost $100,000 each—a value that far exceeds their gold content alone. The combination of historical significance, extreme rarity, and the mystique surrounding the lost treasure creates a perfect storm for collector demand.
Investment Considerations
- Historical premium over gold content
- Proven appreciation over decades
- Museum-quality provenance
- Limited supply ensures scarcity
- Cross-appeal to history enthusiasts
For collectors interested in building a precious metals portfolio with historical significance, territorial gold pieces represent the ultimate intersection of intrinsic value and numismatic rarity.
Collector's Insight
The emergence of this exceptional Mormon $20 after fifty years demonstrates how significant numismatic treasures can remain hidden for generations. Serious collectors should consider that Mormon gold, California Gold Rush pieces, and other territorial issues represent some of the most historically significant American coins ever produced—combining the intrinsic value of gold with irreplaceable historical importance.
Conclusion
The resurfacing of this remarkable 1849 Mormon $20 gold piece serves as a powerful reminder of the treasures that may still await discovery. This coin represents far more than just precious metal—it embodies a unique chapter in American history when religious communities, frontier towns, and territorial governments created their own monetary systems to serve local needs.
For today's collectors and investors, Mormon gold and other territorial pieces offer a compelling combination of historical significance, extreme rarity, and intrinsic value. While few will ever have the opportunity to acquire such museum-quality specimens, the story of these coins illustrates the enduring appeal of gold as both a store of value and a tangible connection to history.
Whether this exceptional coin will find its way to a private collection, museum, or auction house remains to be seen. What's certain is that its emergence has reignited interest in one of the most fascinating periods of American monetary history and reminded collectors worldwide why territorial gold continues to command such reverence in the numismatic community.
Disclaimer: This article is for educational and informational purposes only. Coin collecting and precious metals investing involve risk, including potential loss of principal. Past performance does not guarantee future results. Always consult with qualified professionals before making investment decisions.