1849 Mormon Half Eagle - 1849 Mormon $5 NGC XF40. K-2, R5, NGC XF40. This rare, 1849 Mormon Half Eagle shows even, light wear and surfaces that are original, clean, and, for the grade, free of noteworthy distractions. The strike is weak at the centers including the hand and date. The letters DOLL are also weakly struck. This piece is somewhat unusual in that the eye and the crown above it are well struck. Traces of mint luster are seen on the legends.

The obverse shows a crude, three pointed Phrygian Crown, which was the emblem of Mormon priesthood above the All-Seeing Eye. The inscription is HOLINESS TO THE LORD with the words separated by dots. The reverse has clasped hands as the central device with the date below it. The reverse inscription consists of the letters G.S L.C.P.G. with the denomination written as FIVE DOLLARS separated by dots.

One of the richest gold discoveries of during the time of the California Gold Rush was at Mormon Island, downstream from Sutters Mill on the American River. James Marshall and Sam Brannan were Mormon Forty-Niners who were involved in the actual discovery of gold. It was Sam Brannan who galloped through the streets of San Francisco shouting about the discovery.

In 1848 Brigham Young decided to create a distinctive coinage for the Mormon Territory. He met with John Kay, who had worked at a private mint in England, to set up a process for smelting oar and coining gold. Brigham Young and Kay created the devices and inscriptions for the new coinage. They were engraved by Robert Campbell and Kay. The obverse devices included the three pointed Phrygian Crown, above the All-Seeing Eye. The inscription Holiness to the Lord is from the Old Testament and was originally intended for engraving on sacred jewels of the Hebrews. The reverse devices included the clasped hands for friendship, and G.S.L.C.P.G. meaning Great Salt Lake City Pure Gold. (It is interesting to note that none of the gold actually came from Salt Lake City. Until 1860 all bullion came from California. The 1860 bullion came from Colorado.) The words PURE GOLD were written out on the ten dollar piece instead of the initials. The Salt Lake City minters called their coins Valley Coins.

The first name of the Mormon Territory was the State of Deseret meaning the State of the Honeybee. Beginning in 1849, Mormon gold was minted in a small adobe building in Salt Lake City, Utah. It was actually the home of Dr. William Sharp. Brigham Young initiated the coinage and personally supervised the mint. Most Mormon gold coinage was light in weight and low in fineness. When they reached non-Mormon territories know as Gentile areas, the coins became objects of contempt as much as polygamy was. No doubt both contributed to federal opposition to the Mormons. Considering that most of their coins had a quite low fineness, it is ironic that their church sponsored issues were inscribed PURE GOLD. Because of its substandard weight and fineness, most of the early Mormon coinage was melted outside Mormon territory. Bankers accepted them with a twenty-five percent discount. San Francisco newspapers called them debased, spurious, and vile falsehoods. The lower gold content suggested either incompetence or outright fraud. To remedy this situation, Young ordered new coins for 1850. They were alloyed with silver and redesigned. However, by that time Mormon coinage had such a poor reputation, the new issues were not accepted and also wound up in the melting pot.

The Book of Mormon is part of the scriptural canon that includes the Bible and a collection of writing by Joseph Smith. Mormons believe that anything spoken or written by a prophet, while inspired, is the word of God. The Book of Mormon and the Bible are the word of God along with teachings of Smith and his successors. They believe that God wants to bring his children to immortality and eternal life. They also believe in a pre-mortal existence where people were spirit children of God. The most important part of Gods plan is that the eldest Son of God, Jesus, came to earth to conquer sin and death. They believe that everyone will be resurrected, and most will be received into various kingdoms of glory. If one accepts Christ through faith, repentance, and ordinances such as baptism and the laying on of hands, he will be accepted into the highest kingdom. Mormons also believe that angels came to Joseph Smith and others and gave them various Priesthood authorities. They further believe that their church is the only true and living church because of the divine authority restored through Smith. Mormons view other Christians as having a portion of the truth. Most Mormons feel that God talks to them in their hearts and minds.

The 1849 five dollar piece has an estimated mintage of 5,340; however, this figure is largely irrelevant since most of the Mormon coins that went to California were melted in 1851 and 1852; surviving pieces are rare. Both grading services have certified a total of 154 five dollar coins in all grades, and these numbers do not account for resubmissions or crossovers. In its population report, NGC shows 3 in XF40 with 36 better.