The Rare Auction Appearance of a Mormon Gold $20 Coin
The recent auction at GreatCollections featured the rare appearance of a Mormon gold $20 coin, which garnered significant attention with 46 bids. The coin, graded Extremely Fine 40 by Numismatic Guaranty Co., ultimately sold for an impressive $182,812.50, including the buyer’s premium.
Insight: Rarity of the Coin
GreatCollections founder Ian Russell highlighted the scarcity of this particular coin, noting that fewer than 20 examples are known to exist in all grades. In the past 20 years, this coin type has only appeared in auctions eight times, making it a truly unique find.
Insight: Historical Significance of the Coin
The coin designs were established on Nov. 25, 1848, with specific inscriptions on each side. Originally, the coin featured the phrase “HOLINESS TO THE LORD” and the emblem of Priesthood on one side, while the reverse displayed the words “PURE GOLD” along with the denomination. However, as revealed in “Private Gold Coins and Patterns of the United States,” the reverse inscriptions were eventually changed to include the abbreviations G.S.L.C. and P.G., representing Great Salt Lake City and pure gold, as seen on the 1849 $20 coin.
Insight: Mormon Government Issued Coins
The Mormon government issued a series of gold coins in 1849, including denominations of $2.50, $5, $10, and $20, followed by $5 coins in 1850 and 1860. The coins were minted using Colorado gold from the Pikes Peak area. Despite their historical significance, many of the early Mormon gold coins did not gain widespread acceptance due to being underweight by up to 15%.
Overall, the auction of this rare Mormon gold $20 coin not only showcased its monetary value but also shed light on the intriguing history behind its design and production. Its limited availability and historical significance make it a highly coveted collector’s item.
