| Author |
 Replies: 29 / Views: 3,190 |
Page 2 of 2
|
|
|
|
Pillar of the Community
United States
7641 Posts |
The majority of the value is that the coin is still in the GSA holder and therefore retains it's GSA provenence. There were not many 79, 90 and 91 coins in the hoard to begin with and they command a stiff premium when found in original packaging.
|
|
Pillar of the Community
United States
7641 Posts |
The 89-CC that Cascade refers to finally turned up, still in the hard plastic, several years ago. When it was originally sold by the GSA it was in the $15 group! My understanding it was placed into a long time collection by private treaty and has never hit the auction floor.
Someday it will.
|
|
Pillar of the Community
United States
1247 Posts |
to the OP. please don't be upset about my questions. I don't know so therefor I ask.
|
|
Pillar of the Community
United States
7390 Posts |
Western, when I was at long beach I was talking to a dealer (forgot who) that had a large supply of high end GSA's. We got to chatting and I mentioned the 1 89. He then.said that he was the owner. I didn't ask to see it or go further because I was thinking he was full of it but who knows I guess
|
|
Valued Member
United States
403 Posts |
The one of GSA's (1889, 1892 and 1893 if I recall) are circulated examples that were purchased and placed in those holders by the GSA for promotional uses. As far as I know, they were destroyed thereafter.
|
|
Pillar of the Community
United States
7641 Posts |
I wanna say that there was an article in Numismatic News or Coin World when that single 89-CC turned up several years ago. Everybody knew the coin was "out there" somewhere as the GSA had said numerous times that THE 89 coin was mixed in with the 15$ group and went out to a random buyer. Everybody was just hoping and praying that it didn't get busted out of the holder by some unknowing doofus. As far as a 92 and 93 go I have no idea, nor have read anything about, those dates even being in the hoard. A long time ago I put a set of GSA CC's together (78 through 91, no 89) and really enjoyed doing it. It was way before they exploded in price difference (raw vs GSA). I eventually sold them and used the money to buy other stupid stuff. I may try to put another GSA set together....after I finish my late date (1879-1891) business strike Seated Half set I've been working on for a few years! Congrats to the OP for getting a very nice coin at a very nice price! Gives me the itch to put a set together again! |
|
Valued Member
United States
403 Posts |
Oh yeah, there is an 1889 in a softpack, I'm talking about the hard-pack GSA's.
|
|
Pillar of the Community
United States
1750 Posts |
Smart move to least buy a NGC certified 1891-CC GSA. I'm sure they looked for evidence of tampering. The plastic premium is quite alluring to dishonest folks.
|
|
Valued Member
 United States
245 Posts |
This is definitely a situation where the original hard government casing that the coin resides in, commands a huge premium. Of the Carson City GSA dollars available to the market, 78, 79, 80, 81, 82, 83, 84, 85, 90, & 91, the hard case premiums are most noticeable on the 90 & 91 years. The 79CC carries a monster price no matter whether it's a GSA dollar or just regularly slabbed coin.
I guess the 80, 81 and 85 carry decent premiums too.
|
|
Pillar of the Community
United States
1450 Posts |
I got a Carson City 1891 Morgan today at my local coin shop with a bunch of other trades and some case. It is in VF condition and with trade-ins, cash discount etc. I paid $100 for it. Most definitely circulated, but it is my first Carson City Morgan. If a collector bought a full set of Morgans with variations etc. in maximum MS condition/Proof he/she could shell out well over 3 million dollars. I just did some simple Red Book math. At the same time you can complete a set for much, much less just getting the CC's and rare ones in VF condition only. |
|
Pillar of the Community
United States
1750 Posts |
1880-CC, 1881-CC and 1885-CC carry a premium for the coin's rarity, TMCD. Not a huge difference on those price wise between a PCGS slabbed one and a GSA. If you have MS state in a third party slab of any of these three dates, you are very safe in betting that it was a former GSA.
However, there are still enough of them in GSA plastic not to warrant a large price difference.
You will find it tough to find 1881 and 1885-CC's in VF, Terry. They are what is called a conditional rarity. Most of the 1881 and 1885 mintages were in the GSA hoard, so MS state coins are MUCH more common than circulated examples. They are out there, but it will definitely be a longer search.
Edited by DoubleEagle20
10/31/2015 6:19 pm
|
|
Pillar of the Community
United States
1450 Posts |
DoubleEagle20
Yes, I will have to cough up the big bucks for some of the Morgans no doubt. I started collecting Morgans as sort of a drop back position since coin shows and shops always have Morgans. I have been trying to complete a SLQ collection for a while. When I think about spending $5000-7000 on a small, thin sliver quarter(1916 SLQ) it is easier to buy a Morgan instead. Most of them are at least have some luster. CC's are not as expensive as some from early 1890's where we all must take a bath to even get VF.
The more I get into collecting a set of coins the more I find out the low down on some of the coins in that set. Every set has its story which is what makes it fun and expensive and frustrating at times. Some of these sets like 20th Century gold coins all have booby traps in them because certain years were melted down by FDR like 1929 Half Eagle Indian Head. Mintage has nothing to do with it. You know this of course.
|
|
Valued Member
United States
245 Posts |
I had some guilt over buying this coin, I'll admit that. Once you realize how truly rare the 91CC GSA coin really is, you realize it's a solid investment. So the money guilt evaporates quickly from that point of view.
I figure if I collect the entire short series of Carson City GSA coins, I'll have around 14-16k just in the three ultra rare 79, 90 and 91 coins.
I will slowly and gradually upgrade the more common years in my set as time goes by. I could easily put 20k in a nice set. That just gets you lower MS coins in the rare dates but should really put you into some nice ms65 coins in the more common years. I think the bargain year for this series is the 78CC...FWIW.
|
|
Pillar of the Community
United States
4471 Posts |
TMCD75 I saw this beauty coming up for auction at Heritage a 1883 CC MS64 DMPL with a CAC sticker, and I thought of you.  |
|
Valued Member
United States
245 Posts |
Thank you Slider, that thing is stunning...I've got a really nice ungraded 83CC GSA that I actually bought at a pawn shop here in town. It doesn't stand up to that though, not even close.
I've thought about chasing PL and DMPL just in the more common GSA dates like the 82, 83, 84 etc. I even saw a nice PL 78CC GSA coin that was fairly affordable in the MS 64 grade...or it could've been MS 63. It was a dandy, I thought about it but I've spent too much on coins recently, starting to feel guilty. I buy Silver Bullion, it all adds up quick.
Wonder what that coin goes for? Probably a good lick on that site.
Edited by TMCD75
11/06/2015 9:12 pm
|
|
Page 2 of 2
|
Replies: 29 / Views: 3,190 |
Page 2 of 2
|
First Page
Posted 10/31/2015 10:28 am
