1849 Mormon Ten Dollar

Coin Details

Auction Record

$840,000 AU53 12-21-2020 Stack's Bowers

Description

The 1849 Mormon Gold Eagle is a ten-dollar denomination from the Deseret Mint in Salt Lake City, struck during the first year of the mint’s operation. Like all Mormon territorial gold, this coin was produced from gold brought to Utah Territory by members of the Mormon community returning from the California gold fields, providing the isolated settlement with a medium of exchange for major commercial transactions. The obverse bears the theocratic inscription "HOLINESS TO THE LORD" surrounding the All-Seeing Eye symbol — the eye of God enclosed within radiating rays of glory — which appears on virtually all Mormon gold denominations. Below the eye appears a bishop’s mitre, emphasizing the religious authority behind the coinage. The reverse features clasped hands — the fraternal greeting and covenant symbol — with "PURE GOLD" and "TEN DOLLARS" establishing the denomination and metallic claim. The ten-dollar eagle was among the most practical denominations in the Mormon gold series, suitable for significant but not extraordinary transactions in the territorial economy. Brigham Young authorized the Deseret Mint’s establishment to address the severe shortage of circulating money in Utah Territory, where barter and commodity exchange had been the primary means of commerce since the Saints’ arrival in the Salt Lake Valley in 1847. The mint’s production gave the Mormon community economic infrastructure independent of the distant federal government.

Rarity Notes

Very rare. Estimated 20-35 surviving examples. The $10 denomination is scarcer than the $5 but more available than the $20. Auction prices typically range from $50,000 to $150,000 depending on condition.