Lowest Priced Buy It Now GSA CC Dollars
This historic coin is a valuable memento of an era in American history when pioneers were challenging the West. The silver in this dollar was mined from the rich Comstock Lode, discovered in the mountains near Carson City, Nevada. The Carson City Mint was established there in 1870, and although it was in existence for a mere 24 years, it produced many coins which have endured as collectors' items, among them the 13 piece Morgan dollar series of 1878-1893. Their link with an historic period in our nation's history give these dollars an added appeal. This coin is an uncirculated specimen of the Morgan dollar, containing ninety percent silver, which somehow survived the massive coin melts of the early 1900's. This piece is also from a hoard of mint condition Carson City dollars, discovered by a Treasury audit in 1964 and issued by the General Services Administration in the early 1970's. They were discovered after nearly a century of obscurity in the vaults.
Collectors have come to recognize the historic value of the coin and holder combination, and some are willing to pay premiums for coins kept in their original GSA holders. Over the years, many of the coins have been removed from their GSA holders, often to be submitted for grading. Removing the coins from their GSA holders severs the historic link between the GSA sales and the individual coin.
The General Services Administration was responsible for sorting and marketing the U.S. Treasury's hoard of silver dollars, after the Treasury ceased issuing dollar coins in 1964. In a series of sales lasting from 1973 to 1980, this hoard of several million silver dollars, mostly Morgan dollars minted at the Carson City Mint, was dispersed via auction and fixed prices.
Sealed in rigid plastic holders and boxed with a message from then President Richard M. Nixon, these silver coins account for most of the Mint State Carson City Mint Morgan dollars known today.
A great rush occurred during the early 1960s for the silver dollars, which could be obtained at their face value. That rush of interest was a departure from the past. For generations, Morgan and Peace dollars lay undisturbed in Treasury and Federal Reserve vaults, serving primarily as a backing for silver certificates. In 1935, when Congress changed the written obligation appearing on silver certificates so that the notes could be redeemed "in silver" instead of in "silver dollars," production of these coins ceased. Only in the far Western states were silver dollars used in daily commerce, and even collectors showed little interest in Morgan and Peace dollars.
Starting about 1958, however, the number of silver dollars being withdrawn from government vaults increased annually, reaching a fever pitch in 1963 to 1964 following the discovery of previously scarce dates. Some previously scarce silver dollars dropped in value to mere fractions of their recent prices. For example, the 1903-O Morgan dollar dropped in value from $1,500 in Uncirculated to $30.
As the public became enamored of silver dollars, lines stretching for blocks formed around the Treasury Department headquarters in Washington, as speculators bought up silver certificates to redeem them for $1,000 bags of silver dollars.
In March 1964, the Treasury, having discovered many bags of scarce Carson City dollars, stopped redeeming silver certificates with silver dollars, offering bars or granules in their place. After June 24, 1968, the redemption of silver certificates in silver ceased altogether, though the notes remain legal tender to this day.
After the Treasury took stock of its remaining silver dollars, these coins were turned over to the General Services Administration for disposal at a profit to the government.
The GSA is a government agency with many responsibilities, including the oversight of government property.
The GSA sorted the coins into several categories, the most populous of which was "Uncirculated CC." These were offered by date for issues of which several thousand or more were available. Those "CC" dollars with low quantities available or that did not qualify as Uncirculated were lumped into a "Mixed CC" category. Non-CC dollars and circulated pieces were included in the hoard, too, but many of these were packaged in flexible plastic envelopes rather than the rigid plastic holders most collectors associate with the GSA hoard.To insure grade and quality you can purchase the Carson City GSA Morgan Dollars that have been certified in the holder by NGC or you can purchase the Carson City GSA Morgan Dollars certified by PCGS that have been removed from the government holder and graded in the PCGS holder.
|PCGS GSA Carson City Morgan Dollars||NGC GSA Carson City Morgan Dollars|
"United States Government 1972"
"This historic silver dollar is one of the most valued reminders of our national heritage."
- Richard Nixon -
THE CARSON CITY MINT
The Carson City Mint was authorized by Act of March 3, 1863. Coinage operations started in 1870 and lasted through 1893. The mint then operated as an assay office until 1933 when it was closed.
The United States Mint at Carson City, Nevada
Organized in 1870; discontinued in 1893. Min Mark, "CC".
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