Are Morgan Dollars in GSA holders worth any more than a coin graded by any service? At one time people had many Morgan Dollars in GSA holders, that was when the General Services Administration found these coins and proceded to sell them one at a time. There are stories of when, at coin shows, you could hear the holders being busted up for the coins they held. The coins in the original holders, while scarce, now a days, are scarce, but do they command an extra premium because of it? I guess that is subjective, are they worth any more to you? That is my question, myself, I do have a Morgan Dollar WITH Rainbow toning in the original GSA holder, with the box, with a note signed by then president Richard M. Nixon. I do hold that dear. After all it is a part of history. After all that is one reason that collecting these coins is a passion to me.
Yes, people do pay a premium for these in the OGP. I've owned them both ways, and the cracked out versions in PCGS attributed slabs always sold for slightly less than those left in the OGP and graded by NGC. PCGS only recently started grading these in the OGP, but I really don't like them because they put the original case in an over-sized slab. It looks ridiculous. FWIW, the CC's in the OGP aren't all that scarce. If you go to any of the large shows, you will see them by the hundreds. If you want to have yours graded and still be able to keep it in the OGP, then NGC is the only way to go. Just submit it in the plastic case without the box & COA. Chris
="cpm9ball, post: 2102458, member: 24633"]Yes, people do pay a premium for these in the OGP. I've owned them both ways, and the cracked out versions in PCGS attributed slabs always sold for slightly less than those left in the OGP and graded by NGC. PCGS only recently started grading these in the OGP, but I really don't like them because they put the original case in an over-sized slab. It looks ridiculous. FWIW, the CC's in the OGP aren't all that scarce. If you go to any of the large shows, you will see them by the hundreds. If you want to have yours graded and still be able to keep it in the OGP, then NGC is the only way to go. Just submit it in the plastic case without the box & COA. Chris[/QUOTE] Thanks Chris, everything is said about this theme with your answer....
Some of the 4 major grading companies have started putting just an "adhesive" strip on the front and back of the plastic case much like with a slabbed coin but instead of those fugly slabs they'd put them in (like Chris said), it would be just the label. It really does make the look of the whole thing much better.
GSAs are fun, and popular with collectors (and dealers). The most common GSAs are 1884, 1883 and 1882. Less common GSAs, but available are 1878, 1880, 1881 and 1885. Rarest GSAs are 1879, 1890 and 1891. Interesting to note that 1890 had the highest mintage for any CC Morgans (2,309,041). But very few found there way into the bags found my the GSA. an 1890-CC in a GSA container MUST STAY IN THE CONTAINER. Also interesting to note that the 1884-CC was considered to be a scarce coin prior to the GSA find. They simply were not available in quantity. It was believed that most had been melted under the Pitman Act. But NO!! Of the 3,000,000 GSA Carsons in the hoard, 962,638 were 84s. Also interesting is the fact that the 1885-CC had the lowest mintage (238,000), but is readily available. Next rarest is the 81-CC at 296,000, but also readily available. Then comes the 89-CC at 350,000. 89s are readily available (and expensive) in lower and mid grades. They are rare in XF, very rare in AU, and rarely seen in MS grades. My favorite Carson is the 1880, because of all the interesting varieties.
I posted this in another thread, but it bares repeating. During PCGS's grading process of the GSA, they will encapsulate the entire GSA holder in another plastic tomb. The newly graded GSA will no longer fit in the OGP black box. I'm not suggesting PCGS won't do a good job grading the coin, just that I don't like the final product. I'd rather have the NGC version with the grading band and hologram sticker on the top edge. It's less obtrusive and it still fits nicely in the OGP.
Agree with JPC. NGC monopolized GSA grading for a long time. ANACS got in game, but they are a distant third grading agency behind the big boys. And their adhesive labels have scales which quickly fray and tear. PCGS finally got in game, but the entombment sucks. What are they thinking? So...NGC's monopoly continues. The only reason I would send a GSA to PCGS would involve a cracked GSA container. I had a really pretty 81-CC...with a gorgeous rainbow covering 80% of the reverse. It was a 4, in my view. I was packaging several GSAs for an NGC submission, and, to my horror, I tripped and fell and my **** knee landed right on this 81-cc. Huge cracks front and back, plus some missing plastic. Not so much plastic that I could remove the coin....but still.... This was several years before PCGS' entombment option. I sent this one to PCGS in its compromised container, and they returned my coin in their typical slab, with the GSA notation, and a stinkin' 3, salting the self-inflicted wound.
OMG! I feel your pain! I currently have the easy date GSA's. Now I need to determine whether it's worth the $$$ to add a '79 cc and a '90 cc. I think the '91 is too $$ for me in a GSA holder. I really don't want to add a low MS grade coin. I'd rather buy those dates in a nicer grade in "regular" entombment so I can have a nicer coin overall. What are your thoughts on the non-CC GSA's (hardpacks)?
JPC: Great Question. Short Answer: I stay away, as they are not easy to sell. How many people are dying to get their hands on an 1881-S GSA? Even if it grades out in 65, would buyer be wiling to pay a price anywhere close to the 84-CC GSA (most common and least valuable). NO! Enigma: Small supply and smaller demand. hmmmm. Long Answer: Of the 2.95 million coins in the GSA hoard, only 125,000 or so were non-CC. I have never seen a break-down of these non-CC coins, and my observation is that these coins change hands 15-20% below the 1884-CC GSA (the most common) in the same grade. But that could be a big premium over a non-GSA coin of the same vintage, at least for common dates. I'm pretty sure I've seen some 81-S GSAs. 12,760,000 mintage. In 65, sheet would be $175 or so. But an 81-S GSA in 65 might get you $350-375. But how long do you want it to sit in your inventory. Just my $.02 I reserve the right to be wrong.
JPC: Do you have the complete set of 80-CCs? That would require 4 GSAs: the r78 80/79 overstrike (VAM 4); r79 8/low 7 overstrike (VAM 6); r79 8/high 7 overstrike (VAM 5); and a r79 with no overstrike (meaning any r79 VAM other than 5 and 6). Even better, add an r78 other than a VAM 4.
