Many people think of California’s famous gold rush times when they think of privately issued U.S. gold coins. California was a big player, so they were right. But it wasn’t the only place where the country got its valuable metal. Colorado also made a big difference in the amount of gold that was made in the United States. A special coin made by the Mormons in Salt Lake City is one of the most interesting things that came out of the gold rush.
This valuable item, an 1860 Mormon Five Dollar rated AU53 by PCGS with CAC approval, will be shown off in full at Heritage’s Summer FUN U.S. Coins Signature® Auction, which takes place July 17–20.
The Story Behind the Mormon $5 Gold Coin
At first, it was thought that the coin was made in May 1859, but it was actually made in early 1860, between January and March. Collectors can’t help but notice the striking “lion and beehive” design, and the fact that there aren’t many of them makes them even more desirable. Experts think that there were only 587 made.
If you ask Todd Imhof, Executive Vice President at Heritage Auctions,
“The need to be financially independent led to the creation of many different gold coins.” Gold that was found in Colorado in 1858 made its way to Mormon towns through trade and prospecting. The family of S.M. Rooker in Cherry Creek was a major source of this gold.
Serious coin fans now want this coin more than any other.
The Impressive $50 Humbert Gold Coin Also Up for Grabs
Another interesting lot is the 1851 $50 Humbert Fifty Dollar, which NGC rates as MS60. It is very rare to find in Mint State shape. It is the K-7 variety with a reeded edge. This octogonal piece was made by Moffat & Company under a contract with the U.S. Assay Office of Gold and was backed by U.S. Assayer Augustus Humbert. It was praised for being accurate but criticised for being too big.
The coin in question has both Albert Kuner’s new reverse die and a later obverse that shows die rust and light wear and tear that is common on surviving pieces. There are only two cases in MS60, and only 23 are higher.
The Star of Carson City: 1889-CC Morgan Dollar
The 1889-CC Dollar, which is one of the most sought-after Morgan dollars, will be shown in MS63 Deep Mirror Prooflike form with a CAC endorsement. There were only 350,000 of these coins made, and many of them were melted down because of the Pittman Act in 1918. This Carson City mint coin is almost mythical. Rusty Goe, an expert, says that up to 92% may have been lost.
This coin really stands out because less than 3% of the ones that are still around have Deep Mirror Prooflike quality.
Historic U.S. Gold Coins Join the Auction Lineup
1818 BD-2 Half Eagle, MS64 NGC
This 1818 Half Eagle is tied for the fifth-finest known of any type. Only 200–250 of these are thought to remain today. They are known for having a “STATESOF” reverse with an out-of-place “S.”
1795 Capped Right Eagle, AU55 NGC
This BD-1 1795 eagle is one of the first gold coins made by the U.S. Mint. It may have been from the first batch of 1,097 coins. A total of 5,583 were made, but only 225–325 BD-1s are thought to still be around.
A Proof Rarity: 1867 Quarter Eagle PR67 Deep Cameo
The show ends with a perfect 1867 Liberty Quarter Eagle that is tied for the best known and has been rated PR67 Deep Cameo by PCGS. That year, 50 proofs were made, but it’s possible that many of them didn’t sell and were melted down. Experts think that there are only 14–16 cases left in the world today.
For coin collectors who like rare U.S. coins, Heritage’s Summer FUN Auction looks like it will be a show to remember. These rare coins are important to history and also mark important steps in America’s progress towards financial freedom.
