The ad for GSA dollars just started appearing here. Would someone explain what are GSA dollars? Are there good deals to be had there? Thanks.
GSA = General Services Administration The US Government struck millions and millions more silver dollars than were needed during the initial run of Morgan Dollars (1878 - 1904). These unneeded coins were stored in vaults for decades. In the early 1960s the US Treasury sold a great number of these coins at face price ($1 each). By the late 1960s and early 1970s, the price of silver had risen to the point that the Morgan Dollars contained more than $1 of silver. And many of the stored coins had significant collector value, especially the Morgan Dollars minted in Carson City (CC). The Treasury decided to sell the remaining coins to collectors at a premium. GSA handled this. Collectors bid on the coins by mail. The coins were placed in plastic holders and cardboard boxes with a COA (Certificate of Authenticity). The GSA Dollars are now collectible in their own right.
Can you post a picture of the certificate? I have seen two different types of certificates from GSA Morgans. They can be difficult to authenticate as they are merely a piece of paper in the box, but we can try to help if we can see it.
The first reply was spot on. The pieces are sought after by many collectors. For pieces that are truly scarce in GSA holders, there can be significant premiums for GSA versus non-GSA.
