| Author |
 Replies: 10 / Views: 9,250 |
|
|
Valued Member
United States
402 Posts |
A lot of CC Morgans are sold as part of the "GSA Hoard". What does this refer to? Seems like some kind of government office. Thanks edgman  |
|
|
|
Pillar of the Community
United States
1534 Posts |
During the 1960's and later on up until 1980, the Government Service Administration discovered a hoard of CC Morgans in the Mint's vaults, and then sold them to the public in the black cases you see many of them in nowadays.
Edited by wheatguy
05/08/2010 8:41 pm
|
|
Bedrock of the Community
United States
11951 Posts |
Back in the 70's the treasury was sitting on a large amount of mint sealed bags of Morgan dollars, mostly Carson City dollars. They decided to have a auction of sorts, it was controlled by the Government Service Administration (GSA). I believe they took bids for different years or year groups. I know some got them as low as $35.00. You can still find these in the GSA holders, some are still in the original box. http://www.coinresource.com/articles/gsa.htmEdited by GR58
05/08/2010 8:49 pm
|
|
Bedrock of the Community
United States
11951 Posts |
Wheatguy .. I guess we were typing at the same time .. I am just slow at it.
Your right they did find them in the 60's, when people wanting silver dollars for Christmas gifts.
I had friends that started turning in $1000 worth of silver certificates for $1000 dollar bags of dollars.
Until they stopped that too. Nixon authorized the GSA to start the sales.
FYI:
History has had many coin hoards. Like the Redfield coins, Binion's coins, New York subway hoard and my favorite the Economite PA hoard.
Edited by GR58
05/08/2010 9:32 pm
|
|
Pillar of the Community
United States
1534 Posts |
Quote:
I had friends that started turning in $1000 worth of silver certificates for $1000 dollar bags of dollars. Definitely would have been nice to do that, given that Silver Certificates generally sell for around $2 these days. I would definitely pay $2 for a CC Morgan.  |
|
Bedrock of the Community
United States
11951 Posts |
One friend, still had some in the 80's. I can remember him letting me search though a bag of 1881 S and pick what I wanted for $15.00 each. Not all the bags they bought like that were CC's but some were. I know he did trade some of the CC's he got like that, for 3 Walkers a 21, 21 D and a 21 S all in UNC .. these were the pride of his collection ..
|
|
Valued Member
United States
300 Posts |
Not sure, but I think they also limited the amount of the GSA's you could buy at one time, someone correct me if I'm wrong
|
|
Bedrock of the Community
United States
10982 Posts |
Quote:
...Government Service Administration (GSA). Just a note: GSA stands for General Services Administration. |
|
Valued Member
 United States
402 Posts |
Thanks guys but one other thing. Why in some coin pricing books are the GSA CC's listed as a separate coin from the regular CC's. Seems like they have less value. Love the spell checker here!
edgman
|
|
Moderator
 United States
23522 Posts |
Quote:
Why in some coin pricing books are the GSA CC's listed as a separate coin from the regular CC's. Seems like they have less value. That's odd - GSA Morgans in the real world sell for somewhat more, not less. |
|
Valued Member
United States
402 Posts |
SuperDave
Your probably right about that. Cant find the book I saw them listed separately in. You guys answered my question though. Thanks again to all.
edgman
|
| |
Replies: 10 / Views: 9,250 |
|
Posted 05/08/2010 8:44 pm
