Mormon gold coins, specifically the 1860 Five-Dollar pieces, were minted during the time when the Territory of Utah was under the jurisdiction of the United States but operated with limited federal oversight. These coins were produced by private mints and were often used by the Mormon community as a means of currency. The coins are made of gold and feature unique designs, making them highly collectible among numismatists. Their historical significance, coupled with their limited mintage, contributes to their value in the marketplace.