1849 Mormon Twenty Dollar

Coin Details

Auction Record

$720,000 MS62 01-24-2021 Heritage Auctions

Description

The 1849 Mormon Gold Double Eagle is the largest denomination produced by the Deseret Mint, established by Brigham Young and the Church of Jesus Christ of Latter-day Saints in Salt Lake City, Utah Territory. This twenty-dollar gold piece was struck from locally mined California-bound gold that had been brought to the Great Salt Lake Valley by returning Mormon Battalion members and other settlers involved in the California Gold Rush. The Mormon twenty-dollar gold piece bears distinctive designs that set it apart from all other American territorial gold. The obverse features the inscription "HOLINESS TO THE LORD" surrounding the All-Seeing Eye of Jehovah — a Masonic and Latter-day Saint symbol representing divine providence — with a bishop’s mitre or priestly cap below. The reverse displays two clasped hands symbolizing friendship, brotherhood, and the handshake covenant central to Latter-day Saint temple worship, with "PURE GOLD" and "TWENTY DOLLARS" flanking the denomination. The Deseret Mint operated under the direction of Brigham Young, who served simultaneously as territorial governor, church president, and de facto economic leader of the isolated Utah Territory. With the nearest federal mint thousands of miles away, locally produced coinage was essential for facilitating commerce in the growing settlement. The $20 denomination served major transactions including land purchases, livestock trades, and tithing contributions to the church. Contemporary assays revealed that Mormon gold coins generally contained less gold than their stated face value, leading to resistance from non-Mormon merchants and eventually contributing to the mint’s closure. Despite this controversy, the Mormon Double Eagle remains one of the most historically significant pieces of American territorial gold, embodying the economic self-sufficiency that characterized early Utah Territory.

Rarity Notes

Extremely rare. Fewer than 20 specimens survive from a small original mintage. The $20 denomination is the scarcest of the Mormon gold series, with auction appearances commanding six-figure prices.

Cross References

NGC #31173