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1849 Mormon gold coin fetches $705K at auction

1849 Mormon gold coin fetches $705K at auction story image
SALT LAKE CITY (AP) — A $10 Mormon gold coin fetched $705,000 and a $20 Mormon gold coin sold for $558,000 at auction this week.
They were the rarest of a seven-piece collection of Mormon coins made in 1849 that brought in nearly $2 million at an auction staged by Dallas-based Heritage Auctions.

The coins, put up for auction by a collector, went to an undisclosed buyer. Bidding ended Thursday night.

Tyson Emery of All About Coins in Salt Lake City told the Deseret News ( ) that coins and currency were scarce when Mormon pioneers arrived in Utah in 1847 and the settlers began making their own coins primarily to buy goods from the East.

Only 46 of the $10 gold coins were made and just a few are still around.
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1849 Mormon gold coin fetches $705K at auction
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