So I'm new here and I had a question about the GSA Morgans. To start off let me introduce myself, I'm 23 and a college student studying history. I've been a collector For as long as I can remember. I collect Morgan, peace, and mercury dimes with the mercury being my Favorite and my specialty. Ok, to the question....I've collected CC Morgans in the past, most recently having to sell a ms64 1883 cc Morgan due to school. However I'm now looking to repurchase this coin. My previous 1883 was in a Generic square hard plastic holder and not professionally graded. This new 1883 cc that i'm looking at in My local coin shop is a GSA uncirculated 1883 cc Morgan. I've never delt with GSA Morgans and Have only had experience with coins which have been circulated and not slabed or they're in PCGS/NGC Holders. So can anyone tell me if the GSA Morgans are worth more or less than one that has been used? I know the history of the GSA and still there's something about it that feels gimicky compared to a coin That was actually in circulation and not stored away. So if anyone can give me insite into any pros or Cons of owning a GSA instead of a "regular" coin it'd be appreciated. Thanks, and again hi!
Welcome to the neighborhood! Many of the CC Morgans never saw the light of day. Once they were struck, they were bagged & stored in the Carson City Mint. Eventually, those bags were transferred to the Treasury Department for storage where they remained until the Treasury releases of the early 70's. There were two plastic cases used to house these Morgans in preparation for the sale. One had "Uncirculated Silver Dollar" beneath the coin, and the other had "Silver Dollar" beneath the coin. The difference being that any coin with tarnish (toning) or any coin that had come from circulation (some did) could not be placed in the "Uncirculated" case. Currently the only grading service that will certify these coins without removing them from the plastic case is NGC. All others (to my knowledge) remove the coins, encapsulate them in their own slab and attribute the coin as "GSA Hoard". Chris
The coins in the original GSA holders usually bring a small premium over those not in the original holders, assuming the grade is equal. But based on your comments I'm not really sure what you've got or are looking at. See that ad on the right ? Is that what you are talking about ?
Yes, GDJ that's the type of Morgan i'm referring to. I'm used to dealing with coins that are "wild" and not in holders or one's that have been minted ie (proof sets) so I was wondering if there I'd any real difference, pros or cons for GSA Morgans vs. "regular" Morgans.
I have a toned 1883 CC in it's original GSA holder that I purchased from the original owner. He was also selling an 1885 CC in a GSA holder, but alas I could not afford what he wanted for that one. I COULD have bought it but I wouldn't have had any money for the next 2 weeks lol. I should have bit it, and bought it when I had the chance. I've seen the same coin go for over 1200 and he was asking 550. The 1883 CC I got for 220.
@silver Yeah my dealer wants 200 for the 1883 which is a good deal in my opinion. He has another cc GSA that is NGC graded but I haven't looked at it yet.
Think of it like this. Is there a difference between a Proof Set in original mint packaging and a Proof Set in a Capital Plastics holder ? Pretty much every single time the original set will bring more money. Same with GSAs.
Thanks GDJ, that does make sense. I'm just unfamiliar with coins in specialty holders and the like, I usual deal with them in hand sorta speak.
Welcome. You can treat GSA Morgans as raw coins, take a look at the condition before you buy. Though most dealers will charge about the same price sometimes you do find one in exceptional condition. And like others have said the only company that grades them are NGC. ANACS will break the GSA holder apart.
Icerain, thanks. The one I originally looked at isn't officially graded but he has another that is NGC graded that I'm going to look into.
Consider this, MOST of the Mint State CC coins seen today, whether raw or slabbed, came from GSA holders. For one of the years 75% of the entire mintage was in the GSA holders.
Thanks conder, that's what I deduced. That it's all the same thing, just in a different holder. I prefer raw or the smaller PCGS/NGC slabs. Most GSA are also ms62-63. My original 83cc was a ms 64. By luck I actually found a ms64 in a PCGS that I'll post as soon as I get it.
http://www.gsadollars.com/GSA_Hoard_History.html Here is a write up I did on the hoard that includes the different kinds of holders. Also you will find the mintages and the total number of coins found in the hoard.
