Stack’s Bowers Galleries is Offering Another Rare Mormon Gold Coin

​After members of the Church of Jesus Christ of Latter-day Saints entered the Salt Lake Valley in 1847, they had little money to spend and no viable way to trade. They had left behind their property in Nauvoo, Illinois to begin a new life in Utah. It quickly became apparent that they would need a form of currency that would allow them to trade with East Coast companies and to conduct business within their community. At first, the Mormon population introduced scrip, Valley Notes, and livestock-backed currency. After discovering and mining gold in California in 1848, the Mormons in Salt Lake City began to use it as their new form of currency. Brigham Young, the church leader, was reluctant to send church members to California to collect the gold, but eventually decided that it was in the church’s best interest to do so. 

The Deseret Mint began minting gold coins in the $2.50, $5, $10, and $20 denominations. While the $10 is the rarest denomination, the $20 is heavily coveted as well. In Stack’s Bowers Galleries November 2021 Showcase Auction, we will be selling an 1849 Mormon $20 that has been graded by PCGS as AU-53. This lot can be found at as lot 4149​.

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