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GSA Morgan Help

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Pillar of the Community
snowman's Avatar
United States
1840 Posts
 Posted 04/08/2007  7:58 pm Show Profile   Bookmark this topic Add snowman to your friends list Get a Link to this Message Number of Subscribers
Later this month I'll receive a check for co-teaching a night course at a local college. I intend to spend every dime of it buying those pricier coins that I've been passing up due to a lack of free cash on hand. One of those coins will be a GSA Morgan dollar. This will be the only Morgan that I will add to my collection. I don't need high grade, top-pop or any of that garbage; just a problem free coin in one of those plastic government holders. Frankly the provenance fascinates me. Since my knowledge about the series is finite, I wanted to ask all of the Morgan buffs out there if you had any thoughts or advice.
Valued Member
sandpaper's Avatar
United States
335 Posts
 Posted 04/08/2007  8:38 pm  Show Profile   Bookmark this reply Add sandpaper to your friends list Get a Link to this Reply
Well, I'm no expert on Morgans, or any other coin, but it seems to me the '82-'84 are most available and the least expensive.The best thing would be to find one that is not too banged up, in the GSA holders. For more money,the other dates might be something to look into, as these may be more valuable to own. High grades and pop are not something to dismiss.
Rest in Peace
Morgan Fred's Avatar
United States
2684 Posts
 Posted 04/08/2007  10:42 pm  Show Profile   Bookmark this reply Add Morgan Fred to your friends list Get a Link to this Reply
Snowman, I'm a Morgan collector, have had several GSA Carson City Morgans. GSA Morgans (especially Carson City mint) in their original GSA encapsulations bring a bit of a premium over the same date/mint mark without the holder. This value will increase with time as GSA Morgans are cracked out of their holders and graded/slabbed by a top third party grading service (exception: NGC will grade GSA Morgans in their original holders). While the 83 and 84 Carson City Morgans are the most common of the series and hence the lowest priced, the 82CCs are somewhat less common and will cost more. If you want merely a representative specimen and don't want to pay top prices, go for one which hasn't been graded but is still in its original GSA holder - lots of them on ebay. Figure $150 to $200 for a typical 83CC or 84CC specimen. However, if you want a specimen which will appreciate noticeably in a relatively short time period and can afford it, look for one graded by NGC in the $500 range which seems to be the cutoff for a GSA Morgan between relatively stagnant value and appreciative value. My choice in this range would be an 85CC.

Fred

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Jaobler's Avatar
United States
6381 Posts
 Posted 04/09/2007  01:00 am  Show Profile   Bookmark this reply Add Jaobler to your friends list Get a Link to this Reply
Hi Snowman,
The nice thing about buying an ungraded GSA Morgan is that it could be gem quality. Unlike a non-GSA coin, you are virtually guaranteed that it will be a true BU coin without cleaning or other problems. Check each candidate coin for full striking details over Liberty's ear and on the eagle's breast feathers, strong luster, and a clean cheek. You may be able to buy a choice coin for little more than the price of an average GSA example.
A few years back I bought an 1881-CC GSA dollar from my local coin dealer. He called it MS-63 which I thought was pretty conservative. I cracked it out and ANACS graded it MS-65. In hindsight it might have been better to get NGC to certify it in the GSA holder, but I was very pleased to get that 65. Good luck!
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