Eric P. Newman Numismatic Education Society - Heritage 11/2014:3474, $58,750
Ex Jack Klausen
Riverboat Collection - Heritage 4/2014:5454 (as PCGS AU55 10001882), $76,375
Kagin 2 - Rare
Kagin Restrike 3 in Gilt Copper - 3 known
Kagin Restrike 3a in Gilt Copper - 1 known
Breen estimated the mintage of the Mormon $5 gold coins at 5,340 pieces, but this was purely a guess based on an extrapolation of a 1950 figure of $75,000 for all Mormon gold issues struck between 1848 and 1851.
Several AU55 or better examples are known, though they appear on the market infrequently. The best example known to us is the NGC MS61 from the Eric Newman collection.
The obverse abbreviation "G.S.L.C.P.G." stands for "Great Salt Lake City Pure Gold". However, an assay of the various Mormon gold issues performed at the United States Mint in 1850 showed the coins to be underweight and debased. The gold for these coins came not from Salt Lake City, nor anywhere else in Utah, but from the gold fields of California!
The obverse die was later used (Kagin believes in 1898) to create uniface impressions in gilt copper (see Kagin 3).
The reverse die was later used (Kagin believes in 1898) to create uniface impressions in gilt copper (see Kagin 3a).
Sources and/or recommended reading:
"Private Gold Coins And Patterns Of The United States" by Donald H. Kagin, PhD
"Walter Breen's Complete Encyclopedia Of U.S. And Colonial Coins" by Walter Breen
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