CAC - The California Gold Rush began at Sutter's Mill, California, in 1848. Two employees under James Marshall, the discoverer of the gold, were Mormon. This, paired with the proximity of local Mormon communities, gave rise to the Desert Mint of Salt Lake City. Mormon gold produced in Salt Lake City consistently had lower fineness, averaging 0.866 rather than the advertised "PURE GOLD." As a result, many of the coins produced were melted into bullion, resulting in low survival rates for these pieces. It is estimated that 50-75 examples of the 1850 $5 gold piece, pictured here, remain. With a mintage of 4,000, the estimated survival rate is roughly 1.5%! This piece is graded CAC AU53.
Check out Mormon Gold on ebay


Check out Mormon Gold on ebay