GSA Morgan Silver Dollars: Where Are They ?

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Funny how these toned ones rarely made it into the uncirculated slabs.

 

How are those doing price-wise ? Is the OGP helping ?

 

I believe Bowers also stated that he believed many were removed from the original GSA holders and re-slabbed into the smaller, easier to manage slabs. I think they are an awesome collectible; I bought one (NGC graded) - just to have it. It's a piece of American history. Always a chuckle when I see the note with Nixon's name on it I do have one CC Morgan (not sure without going to look) that's in a PCGS slab and its reads "GSA" on the label. So yeah...

 

I have always believed that the GSA dollars would do well over the long-term, given their unique history and diminishing supply...much better than proof and mint sets. So many of these were cracked out in the early years of PCGS and NGC, who did not grade these for a long time. I remember well the sound of dealers cracking these out, along with cherry-picked new slabs, as well as the occasional "ping" and the cuss words that followed when the process sent the coin flying off the table.

The coins that dealers thought were not worth submitting back then could be purchased at no premium over raw at large shows and, in some instances, at a small discount.

This resulted in most of what remained being 63s and lower and dramatically lowered the overall population. I bought a few and I had a friend that bought every one that he could get his hands on.

 

I purchased two of these in the 1970's. I believe I have five of them now in their original cases. I also have one or two CC that were most likely cracked out of their GSA slab. I have no plans to send them to PCGS or NGC to tell me they are mint state 62, 63 or 64. I suspect that most of the CC dollars sold are still sitting in their original slab and not certified. Most collectors don't seem to need to send them to someone to certify that they are mint state. What the population reports indicate is that most of the coins are in collectors hands and those collectors could care less if it's in a PCGS or NGC slab or the original GSA slab has a sticker from PCGS or NGC. So to answer the original question, most of them are still out there sitting in peoples collections and may or may not ever be put into a PCGS or NGC slab.

 

I would like to add a little info on a related topic. How many of the 1995 W proof silver eagles have been removed from the original set and slabbed. Far fewer than you would think have. I looked into them a few years ago and was surprised to find that around 7,000 of the 33,000 mintage have been certified by PCGS and NGC. So where are the rest of them? They are sitting in their original government plastic with the gold coins they were sold with. I believe that a few years ago someone paid almost $80,000.00 for one graded Proof 70. I think at that time there was only a few graded at Proof 70. After the sale of that coin a few more Proof 70's showed up and the price has dropped way down. What do you think will happen as the 25,000 other silver eagles come on the market? How many Proof 70's will show up? At some point those coins will come on the market!!! I wouldn't want to be the guy that paid $80,000.00 for one. They will never get their money back.

 

I know the day will come when I feel I can afford a Morgan CC, but for now I'll just have to collect the common ones and be envious of the rest of you!

 

got 10 each went the mint sold them all in the packing they came with all the proper paper work i know they are real and have no desire to have them certified they already are incased from the mint. i dont care what they are worth i am a collector not a seller . i never post pictures of my coins

 

If they have flat-lined or moved up a bit in price then they HAVE done much better than proof and mint sets which have been price disasters as I understand it.

But there were simply too many of the GSAs and the later rounds got bought at premiums to very high silver bullion prices.

 

The Morgan CC's -- even graded -- are not that pricey if you go for a common in a reasonable grade.

 

It was $86,000 and it was for a DCAM, too.

But yes....coins that matched that one or were basically the same have since sold for $15,000 - $25,000. That $86K price was basically a bubble peak price, gotta-have-it-at-any-price.

 

Alot of these coins bought in the 1970's and early-1980's were people who were not coin collectors but investors....folks who wanted silver or gold and were convinced inflation would soon be at 15% or 20% or at least running at double-digits as far as the eye could see.

It's these investors more so than the collectors who I wonder about when they pass on or their estates or family members get their coins.

 

I wouldn't have the heart to break any coins out of that set. Mike @ CSN showed a complete set (in OGP) and it looked incredible. The complete set must be worth a fortune?

 

Ones first CC Morgan is special! When I first looked at my empty Morgan album and saw CC, it was like being struck by lightening. Yes...some are quite affordable indeed; 1882, 1883, 1884!

 

That may be true for many of you, but I still find it hard to spend more than $50 on one coin when I can get two or more at that price. I know, I'm cheap, but I'm going to town once I start collecting those social security checks!

 

Yeah...don't go into debt over it! I'd feel bad lol!

 

Hey, to each his own....nobody should tell anybody what to buy or how to buy coins.

I will just say that at a certain point you might appreciate forgoing a few raw ones and putting all the $$$ into an upscale graded Morgan.

But that's just me...you may feel differently.

I'm not a huge Morgan collector but I have been adding at times and do have a couple of nice ones in the $750 range which for me is pretty pricey compared to the underlying silver content.

I recently bid on some HA stuff but it was all in the $200 and under range.

 

I would not send a GSA 1882 CC, 1883 CC or 1884 CC, in for grading unless I had confidence it was an MS65, or higher grade, or is a high grade PL/DMPL/VAM. My experience has been that a graded GSA 1882 CC, 1883 CC or 1884 CC, at MS62 or lower causes a loss in value for the collector. You can search eBay prices and you will see a trend that supports this view. This appears to be due to the fact that a buyer will pay more hoping for an MS63+ coin. Once they know it's an MS62 or lower grade, interest appears to fade; my interest certainly does. I wonder if the rest of you have found the same trend?