GSA Morgans generally...

Just would like to know whether you'd pay a premium for these in the GSA slabs over and above the grade you'd personally assign them, if so/not, why so/not (explain the basis for your answer, if you think you can). I have my ideas on these, but for now, if you don't mind, I'll ask the questions, you find the answers. Thanks.

 

Log in or Sign up to hide this ad.

eddie:
I would rarely pay a premium for GSA dolllars (CC's).
I would pay a premium for non-GSA dollars.

 

I wouldn't pay a premium for any Morgan dollar that is slabbed, by anyone. There are no extreme rarities that would warrent so, in my opinion in that series.
Guy~

 

Let me put this another way. What does a GSA slab guarantee that a TPG slab can't possibly guarantee, and, if you figured it out, is it, or should it be, worth anything, to a true collector? And I'm not talking about a simple historical reference, here...

 

I only have a few of the GSA dollars (wish I would had bought more way back)

The only thing I guess is that they came out of the vault never being circulated but many have bag marks. I have a original order form

 

Philly, you see what I see. That's the reason I like these, too. And let me further clarify, I'm not talking about to the clowns who are OK for example with the practice of cosmetically-altering their coins in such a way as to render them undetectable by the experts and then offer same to unsuspecting collectors while conveniently neglecting to fairly disclose the fact that the coins have been cosmetically-altered, I'm talking about to the true collector, who wants the genuine, unadulterated article, period. Just in case that needed explanation. To the true, purist collector, IMHO, you can't do better, anywhere, than a GSA Morgan, in terms of proof that the coin hasn't been superficially-doctored, and is, in the strict, dictionary-definition of the term, "uncirculated" (i.e., as opposed to the loose use of the term as a mere grade reference). No TPG slab can guarantee that. Question I was trying to get at was whether that's worth anything to anybody. As y'all know, now, it is to me.

 

Eddie

You just made me want to buy some more. It does make sense what your saying.

 

Thanks buddy. We just see these the same way. Think of this, too. If you ever wanted to sell one of yours (i.e., if you ever turned primarily investor, as opposed to collector), crack it our of the GSA slab and get it expertly doctored-up. I'll bet you could bump it up a grade of two in the TPG slab.

 

I would be popy puchase GSA's for the prices you have there.


Personally, i would pay a small premium for the reasons that GDJMSP said. it is a lot like proof sets, I wouldnt purchase one that wasnt in the OGP. I would love to have both a GSA and a circ CC for my collection however

 

I'm having a little trouble following this, Doug (hey, it happens ). But I thought the folks who packaged these got them from the U.S. Mint. In which case, they have to be dictionary-definition "uncirculated." So, how does a dictionary-definition "circulated" coin slip into one of these? Or, are you simply speaking from the point of view of grading-definition, and pointing out these packaging folks didn't know the nuances of grading enough to tell whether these coins were grading-definition circulated or uncirculated? Again, I'm speaking from the point of view of dictionary-definition "uncirculated," and I’m saying, as a coin collector, that dictionary-definition coin is important to me. And certainly these packaging folks knew the dictionary-definition of circulated and uncirculated when they got these from the U.S. Mint.

 

Well, yes and no. The mint found many bags of dollars. Some were complete bags of uncirculted coins, some circulated, some were peace dollars, some were morgan dollars, and believe it or not a few seated were found. The uncirculated coins were placed in two different holders based on GSA's criteria of eye appeal. The nicer looking uncirculated dollars (in their opinion, not mine) were placed the"Uncirculated" designated black holers. The uncirculated coins, generally with toning or heavy bag marks were placed in black slabs without the "Uncirculated" desination. Circulated coins on the other hand were placed in blue soft packs. The condition of the circulated coins can range widely, from MS to VG, but they were considered circulated.

To answer the original question...yes, I would pay a premium for GSA slabbed dollars for no better reason than I collect them, along with all the docs, order forms, cases, and cards. But also because I feel they deserve a premium a historical perspective. The GSA release totals for each year in some cases was only a fraction of the total mint production. (for example, there were over 14 million 1879 CC Morgans minted, but only 4,123 released in the GSA auctions.) To make matters worse, many collectors in the 80s cracked out the coins to be slabbed by TPGs, making the totals of original GSA slabbed coins lower. Like it or not, GSA slabbed coins do command a premium, probably because collectors like me are willing to pay for it.

 

It took me some time to find this from my materials on the GSA Hoard, but its add clarification to my "Uncirculated" ramblings above >>>>>>

The first group of coins were judged as the extra-ordinary Uncirculated Specimen Category by a criteria set by the GSA numismatic panel. Each coin was packaged inside air-tight, sonic sealed, three-eigth inch, three and three-eigth inch wide, three-eigth inch high, clear, durable hard plastic, unique government issue coin holder. Silver colored foil lettering inscribed CARSON CITY above the coin along with UNCIRCULATED and SILVER DOLLAR below the coin. The GSA included a historical account of the Comstock Lode silver treasure on the Certificate of Authenticity COA Card issued with every uncirculated silver dollar. The COA Card had a unique light blue eight digit number with a large light blue watermark of the Great Seal of the United States on the background of the card. The first two digits of the COA number represented the last two digits of actual date on the silver dollar. The GSA Uncirculated Specimen Category Set included: silver dollar packaged inside the government coin holder, the COA Card and special designed black presentation box. The black box with a silver color impression of Great Seal of the United States and United States of America on the outside. Light blue colored velvet inside with silver color inscription: "As we approach America's Bicentennial, this historic silver dollar is one of the most valued reminders of our national heritage." RICHARD NIXON

The second group of coins were judged as the Special Mixed Category by a criteria set by the GSA numismatic panel. These coins were either tarnished, nicked with scratches or bag marks. These coins were never placed into circulation by the U.S. Government. Each coin was packaged inside air-tight, sonic sealed, three-eigth inch, three and three-eigth inch wide, three-eigth inch high, clear, durable hard plastic, unique government issue coin holder. Silver colored foil lettering inscribed CARSON CITY above the coin and SILVER DOLLAR below the coin. The GSA did NOT issue the numbered COA Card with the special mixed category silver dollar group. The GSA issued two special information cards explaining the historic account of the Carson City Mint Silver Dollars. The GSA Special Mixed Category Set included: silver dollar packaged inside the government coin holder, the two historic cards and special designed black presentation box. The black box with a silver color impression of Great Seal of the United States and United States of America on the outside. Light blue colored velvet inside with silver color inscription: "As we approach America's Bicentennial, this historic silver dollar is one of the most valued reminders of our national heritage." RICHARD NIXON.

 

Thanks everyone for these great comments about the GSA holders. I definitely looked here first before I made any purchases. I have always wanted to purchase a GSA Morgan, but wasn't sure until I read this thread. Just like the Brown Ikes or Blue Ikes, the GSA Black Boxes, have a greater significance to me the collector, than the same Morgans in a TPS slab or out of a dealer's case.

There was a local coin show this past weekend where I live. I was just about to leave the show and I was saying goodbye to a friend who was selling at the show. As I was leaving, he was digging through a box and proceeded to pull out 3 black boxes. At first glance I didn't know what they were, but after a double look I noticed that they were 3 GSA black boxes. I am very particular about buying items in the original packaging. When I buy something like this that is dated, I like to have the original packaging as close to mint condition as possible. Thankfully, my friend did too, and the cases were in perfect condition just like he received them years ago. I went ahead and purchased from him the 82, 83, and 84 CC's under MS 60 prices, but over AU prices. All the Morgans were definitely in MS condition. The 82 unfortunately had a bad bag mark across the face, but other than that was in fantastic condition.

In the end I was extremely happy with my purchase and will have some nice coins to pass on to my kids. Now I am hooked and need to find the other CC's in GSA boxes. Thanks for everyone's comments - they really do benefit the coin collector community out there.

 

Sounds great did they have the COA in the box with a cert number?

 

Yes - COAs were included with the cert number. These were definitely the best condition boxes of all the ones I saw at the show. Fellow collectors always tell me not to worry about the packaging, but to me that is important. I probably wouldn't have bought these coins if I didn't know the guy that was selling them.

 

Just when I thought I had enough Ike silvers I picked up 20 more today at 4.50 each 10% below bid at our monthly show. Also got 3,000 cents from the 1930’s, 1940’s for 60.00 or 0.02 each. The guy I bought them from said the Ikes are not popular right now and I said well that’s the best time to buy also got a few of the SBA’s 1999 proofs for 16.00 each

Love them coin shows

 

Very Nice! Several years ago, I purchased several large mixed coin sets... mints sets, proof sets, IKE boxes, etc... I did it because I wanted to get into selling coins. Big mistake! Tried to sell them on ebay and ended up taking a loss on many of the coins. I don't know if my wife will let me forget that one. Oh well, I tried. I may not be good at selling coins, but Im great at buying them!!! :mouth: