2016-06-22 Wed

A rare 1849 Mormon gold $20 coin was found in a family’s lock box after 50 long years. It has been graded Mint State 62 Secure by PCGS. Officials state that the coin is in a better condition than a similar coin that is showcased at the Smithsonian Institution’s National Museum of American History since 1968. As per experts, almost 23 such coins exist but none of them are in such a good condition.

The obverse depicts the eye of Jehovah with a three-point Phrygian cap. Other Inscriptions include ‘HOLINESS. TO. THE. LORD’. The reverse features inscriptions ‘G. S. L. C. P. G.’, ‘TWENTY DOLLARS’ and the year ‘1849’ with a depiction of a handshake. The coin could be sold by Ira & Larry Goldberg Auctioneers or consigned to the firm’s September auction.

1849 Mormon gold $20 coins were privately minted and were the first $20 coins that were circulated in the U.S. From 1849 to 1860, $2.50, $5, $10 and $20 Mormon gold coins were struck using California gold by the Deseret Assay Office, although the coins had inscriptions, G. S. L. C. P. G., which is the short-form of “Great Salt Lake City Pure Gold”. They were issued with the approval of Brigham Young and were used for its face value within the Mormon settlement. Most of these coins were melted to be used as gold.