$10 DESERET CURRENCY PLATE DISCOVERED

I was recently contacted and received an image of a $10 engraving plate from the Deseret Currency Association which was heretofore unknown. Presently printed notes from the second series of engraved notes were known only in the denominations of $1, $2, $3, and $5. There has never even been a rumor of any other denominations existing. Although this discovery item is the engraving plate, and no printed notes have yet come to light, it is a definite relic that at least plans were in place for a possible printing of this denomination.

DISCOVERY $10 DESERET CURRENCY ASSOCIATION PLATE (IMAGE REVERSED)

To begin with, a bit of history about the Deseret Currency Association should be discussed. The "State of Deseret" was formed about two years after the arrival of the "Saints" into the Great Salt Lake valley in 1847 with their leader, Brigham Young. The Mormons were continually active with the issuance of currency beginning in Kirtland Ohio, then from Nauvoo Illinois, and finally from Salt Lake. The "Deseret Currency Association" was organized in January 1858. Its primary purpose was to relieve the lack of circulating currency in "Deseret" and to fund the defense against the U.S. Army which was enroute to Salt Lake. Brigham Young was sure that the army's intentions were to remove himself as Governor, halt the practice of polygamy, and end the Mormon's dominance over economics and political affairs in the territory. Capital was desperately needed as there were no banks in the territory and the only circulating specie was a small amount of circulating U.S. money in addition to a few remaining re-issued Kirtland banknotes and a small number of Mormon gold coins available.

Thus, the first issue of The Deseret Currency Association's currency was consisting of typeset denominations hastily printed in the denominations of $1, $2, $3, $5, $10, $20, $50 and $100. These were printed uniface on very thin paper issued with the notation "Good Only in this Territory." This issue was later a target for the now infamous counterfeiter Mark Hofmann in the early 1980's who researched records to determine the denominations which were issued. Presently only the $1 and $2 denominations plus a unique $3 are known to have survived as authenticated genuine specimens. Hofmann created forgeries of all the higher denominations.

These typeset original Type 1 denominations were issued quickly due to the urgent need and the higher quality engraved examples were planned but the copper plates would not be available for several months. Later in the year the engraved copper plates were prepared. The plates indicate that the "drawer," or designer was Henry Maiben and the "engraver" was David McKenzie as noted in small font at the lower edge. It is also well documented that plates for denominations of $1, $2, $3, and $5 were prepared as well as surviving known printed notes of all four denominations. This recently discovered copper printing plate for a $10 denomination for the Deseret Currency Association is therefore an extraordinary find. Up to this time there has not been any information that such a denomination was contemplated let alone a printing plate created.

First, a little history of copper printing plates which were created during this time in Salt Lake. Prior to the discovery of this $10 plate no other copper engraving plates were known to exist except for a $2 plate created for the "Utah Territory Mercantile Company" presumably by the same engraver, David McKenzie, as his signature appears at the bottom left of the printed $3 note of this type. Approximately 10-15 years ago a copper plate was sold at auction for a $2 denomination from the Utah Territory Mercantile Company. This brings to two, the number of Utah copper engraved plates known today. There are also no printed notes known to have been printed or have survived from this $2 plate.

MERCANTILE CURRENCY COPPER PLATE (Image reversed)

The above mentioned $2 plate was auctioned by Stacks on October 16th, 2007.

How did this discovery plate come to be found? To begin with, it was found in the basement rafters of a house located at 10th St. SW in Washington D.C. It appeared at a small local auction in the area in early 2020, where it was purchased by the present owner. The consignor obtained it from her grandfather who was living in the house until 1954. He passed it on because she was interested in history. The house was built in 1909 on a vacant lot purchased in that same year. The house functioned as a boarding house with residents employed in the Washington D.C. area and is located about 1 mile from a local Mormon Church. The ability to trace who may have placed it in the rafters is probably impossible since from the speech in 1863, to at least 1909 when the house was built there is an untraceable gap. It seems to possibly have had some connection either with some Mormons or a political figure who may have been connected to Cradlebaugh who was the last person to be traced to the plate.

SUMMARY The importance of this discovery cannot be overstated. It is a significant remnant of a tumultuous time in the history of the Mormons early history in the Salt Lake valley. It also ties this newly found copper engraving to the first copperplate engraving of the Mercantile Currency which was completed in the western territories of the fledgling United States. Although not 100% verified it is certainly strong evidence of the illegal counterfeiting efforts to undermine the U.S. Army troops sent to Deseret. It is also an amazing artifact from the second type of the Deseret Currency Association, which was the only currency ever issued in the United States to be backed by livestock and a denomination that was never known to have been documented or even planned. I am pleased to be able to bring this part of history to light not only to historians but collectors alike. It is one more instance that with history, not everything is known, and new discoveries are still waiting to be brought to light.

	NBS (coinbooks.org) Web