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 Replies: 16 / Views: 3,733 |
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Pillar of the Community
United States
509 Posts |
Just read some flabbergasting info re these coins. At least it seems so to me (flabbergasting) as a newbie. Maybe some of you veterans have some thoughts on it. There were precisely 962,638 MINT STATE 1884-CC dollars found in the US Treasury in 1964, all of which were sold at a premium. Only 60,000 (5%) have been certified by ANACS, NCG, PCGS. Only one out of every 16 from the Treasury release. What happened to the other 802,638 of these MS coins? Wish I knew where to look !  This info is from Q. David Bowers' book "A Guide Book of Morgan silver dollars". |
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Bedrock of the Community
United States
12437 Posts |
The silver dollar sales were managed by the GSA(General Services Administration). The coins were packaged in large black slabs or soft pliofilm packs, depending on whether the coins were uncirculated or circulated. Coins in the black slabs are known as "GSA Morgans" and the slab gives the coin its provenance, i.e. where it came from. The other 800,000+ coins are not missing, they just haven't been graded. The reason why only 60,000 have been certified is simple- the coins are devalued a bit when removed from the GSA holders and graded. Simply put, when all things are equal(grade, eye appeal, etc), a GSA Morgan will be worth a bit more than a Morgan in a TPG slab. The provenance of the coin provides extra value and that provenance is gone once the coin is removed from the black holder. A few years ago, NGC started to grade the GSA Morgans without removing them from the case. They add a "certification band" to the slab, it is a tamper-proof adhesive wrap that lists the certification information. If not for the Treasury releases, some of the coins in the Morgan dollar series would be incredibly pricey and CC Morgans especially would not be as commonly available as they are today. |
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Bedrock of the Community
United States
10982 Posts |
To add to what biokemist6 stated: Also consider that many of those 962,638 found would be lower grade mint state pieces that would not make MS63 on their best day. Because this date is so common in mint state, there is no value added by slabbing them as MS61 or MS62, the GSA holder works fine and adds value in and of itself. Some also have been slabbed by ICG or any of a dozen other TPG that were in business over the last 25 years and don't maintain Pop Reports. Although these totals might be relatively small, it would add to the 60,000 piece total QDB quoted. Also remember Bowers wrote that book in 2005 (I think) so the numbers are higher now and continue to grow every year. |
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New Member
United States
2 Posts |
i just inherited two GSA CC Morgan dollars one is 1884 the other is 1885. I've been on this forum trying to figure out the price for many of these coins I've inherited. gotta pay the rent. -Brendan |
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Pillar of the Community
 United States
2448 Posts |
Picture time! "Post them and they will come and grade."
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Bedrock of the Community
United States
14454 Posts |
yes the 84-CC is so common even in GSA plastic that unless they grade 64 or above they are not worth the money to get graded. Also there are three big grading companies (that you mentioned) and only one of the 3 will leave them in the GSA plastic holder (which can be kept with the COA and box all together as they came from the mail order from the GSA and that is NGC, PCGS and ANACS will take it out of the original holder and place it in theirs with just a mention that it was once part of the GSA hoard on the label. That is why most go to NGC because as long as it stays in the GSA package its worth more than even a GSA labeled PCGS coin of the same grade. This is the single one example where a NGC graded coin will sell for more than a PCGS graded coin of the same date and grade
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Pillar of the Community
United States
8904 Posts |
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Valued Member
United States
313 Posts |
Moe Very Nice!  |
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Pillar of the Community
3660 Posts |
(Show off)....  Very nice coin though Mr. Moe..  Edited by zeewool
12/17/2010 7:43 pm
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Pillar of the Community
 United States
509 Posts |
LOL, Moe  . Got a really nice chuckle out of that. Nice coin too ! And a big thanks to the rest of you for your feedback and insight but I still think there's a buncha little old grannies out there sittin on these things. Just kidding. I'm learnin. I'm learnin. |
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Pillar of the Community
United States
8904 Posts |
Quote:
(Show off)....  |
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Valued Member
United States
455 Posts |
I'd like to post my NGC 1884 CC MS 64 Morgan as soon as I figure out how to download it into this posting! I'll work on that in the next day or two!
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Pillar of the Community
United States
1150 Posts |
I'd love to spend some time with a loupe and that CC! Very nice.
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Bedrock of the Community
United States
14454 Posts |
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Pillar of the Community
United States
8904 Posts |
Bryan1315, your collection continues to amaze me!! NICE!! |
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Valued Member
United States
255 Posts |
Those are some amazing coins!!
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Replies: 16 / Views: 3,733 |
Posted 12/16/2010 4:33 pm
