1849 $2.50 Mormon MS(PCGS#10259)

February 2026 Showcase Auction - The James A. Stack, Sr. Collection Part II

경매인

Stack's Bowers

로트 번호

23069

등급

XF45+

가격

90,000

로트 설명

Deep violet, navy blue, and orange toning frames the peripheries around pale yellow gold centers. An absolutely exceptional piece for the grade, choice and well struck, with far fewer distractions than most in the AU and Mint State ranges. A very slight abrasion is noted at the left side of the field above the handshake, and some trivial hairlines are seen, but otherwise this piece is as close to pristine as any collector could wish for. The obverse die is bulged beneath the all-seeing eye, a pretty typical die state and one that does not diminish any devices or details. The eye appeal is perfectly choice. The provenance and history of this particular specimen make it even more desirable.<p><p>The Deseret Mint of the Church of Jesus Christ of Latter-Day Saints began operation in December 1848, a little over a year after the Mormon Pioneers arrived in Utah Territory. The Mormon coinage was conceived and executed quickly, enabling the Deseret Mint to strike the first coins made anywhere from California gold. Technical issues slowed production after the initial run of 1849 $10 coins, and subsequent issues weren't undertaken until the fall of 1849. This coin, and about 3,000 like it, was struck toward the end of 1849, sometime between September and December. Most circulated locally or were exported to the East for melting, where Philadelphia Mint assays found the coins both underweight and undervalue. This one, along with perhaps 50 extant today, fortunately escaped the melting pot to serve as a relic of this first coinage related to the California Gold Rush.<p><p>This piece was sold in Thomas Elder's sale of the Edward Kellogg Collection, that included five coins from the estate of the son of pioneer coiner John Glover Kellogg. While this piece was included in a run of 10 territorial gold lots following the Kellogg coins, it does not appear that those coins (including this one) came from Kellogg himself. Others may interpret Elder's layout differently, leaving the possibility that this was once the property of Kellogg himself.<p><p>On average, we offer a Mormon $2.50 of 1849 about every other year. Most are in the EF-AU range, but few are this pretty or this choice. A comparison of PCGS population data (where this is the only EF-45+) and CAC approvals shows that few of these could be described as nice for the grade. This piece is a lovely exception, a relic of an important history with a superlative provenance. It's been over a century since this piece has been offered publicly.