GSA 1882 CC Softpack... how rare is it?

Discussion in 'Coin Chat' started by C-B-D, Jul 27, 2017.

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  1. C-B-D

    C-B-D Well-Known Member

    So I just got this in the mail today. All I can find is that the finest known NGC graded 1882 CC Softpack is MS64. Mine looks like a MS62. Can you guys tell me anything more about this in terms of rarity and value?
    20170727_112524.jpg 20170727_112458.jpg 20170727_112340.jpg
     
    C-B-D, Jul 27, 2017
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  3. C-B-D

    C-B-D Well-Known Member

    C-B-D, Jul 27, 2017
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  4. C-B-D

    C-B-D Well-Known Member

    C-B-D, Jul 27, 2017
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  5. Cascade

    Cascade CAC Grader, Founding Member

    I'm not sure of rarity. I don't follow GSA date/mint populations. That 82cc that sold for $1600 is a good indicator that they might be rare in softpacks but it could have sold at that price due to the relatively heavy circulation in a softpack. Yours is BU albeit 61/2 but circulated 82-84's are kind of a conditional rarity due to the massive quantities of BU ones that were in treasury bags. Maybe @blu62vette can help if he happens to stop by.
     
    Cascade, Jul 27, 2017
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  6. BlackBeard_Thatch

    BlackBeard_Thatch Captain of the Queen Anne's Revenge

    BlackBeard_Thatch, Jul 27, 2017
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  7. C-B-D

    C-B-D Well-Known Member

    C-B-D, Jul 27, 2017
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  8. Conder101

    Conder101 Numismatist

    The links don't differentiate the softpacks from the hardpacks. 1882 CC's in hardpacks are very common, and are available in relatively high grade. They are much less available in the softpacks and since the softpacks were intended to be for circulated coins high grade coins in softpacks are much scarcer. Of course they are also mainly of interest to collectors that are interested in the GSA holders.
     
    Conder101, Jul 27, 2017
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  9. BlackBeard_Thatch

    BlackBeard_Thatch Captain of the Queen Anne's Revenge

    My bad.
     
    BlackBeard_Thatch, Jul 27, 2017
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  10. desertgem

    desertgem Senior Errer Collecktor Supporter

    If you have the VA &M book on Silver Morgans and Peace dollars, they have a rather complete listing of the process and various dates/mm of the GSA sales.
     
    desertgem, Jul 27, 2017
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  11. GDJMSP

    GDJMSP Numismatist Moderator

    This is the closest to anything that I've ever found written that distinguishes the two. But even it doesn't provide a breakdown of the softpacks by date.

    GSA coin quantities


    The accepted quantities of each date were:
    • 1878CC - 61,000
    • 1879CC - 4,100
    • 1880CC - 131,500
    • 1881CC - 147,500
    • 1882CC - 605,000
    • 1883CC - 755,500
    • 1884CC - 962,600
    • 1885CC - 148,300
    • 1890CC - 3,950
    • 1891CC - 5,700
    one each of the 1889-CC, 1892-CC, and 1893-CC

    The remainder consisted of approximately 125,000 circulated and uncirculated Dollars from various other mints.
     
    GDJMSP, Jul 27, 2017
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  12. C-B-D

    C-B-D Well-Known Member

    So I have one of the remaining ones. Perhaps there is no firm answer to my question.
     
    C-B-D, Jul 27, 2017
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  13. Yankee42

    Yankee42 Well-Known Member

    There are NGC registries for soft packs. Maybe you'll get lucky and someone needs that one? I'd be interested to see if you find anything more. I haven't found much.
     
    Yankee42, Jul 27, 2017
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  14. IBetASilverDollar

    IBetASilverDollar Well-Known Member

    Interesting. I know I've seen tons of 78-CC's in the soft packs and they go for less than hard packs from what I've seen. But I don't recall seeing many of the other CC dates in them. I wonder why that would be.
     
    IBetASilverDollar, Jul 27, 2017
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  15. GDJMSP

    GDJMSP Numismatist Moderator

    You have to be aware of and understand the history of the GSA sales. When the coins were being sorted and organized for sale, the people doing that sorting and organizing didn't know much about coins, and next to nothing about grading them.

    The result of that ineptitude was quite a few mix-ups. Ya see, only uncirculated examples were supposed to go into the hard packs, and only circulated examples in the soft packs. But because they didn't know how to grade coins, some circulated examples got put in hard packs, and some uncirculated examples got put in soft packs.

    These people also didn't realize that just because all of the coins in a given bag were of the same date/mint - that did not mean that all of those coins were uncirculated - though many assumed it did mean that. They also incorrectly assumed that if dates/mints were mixed in a bag, then those coins were circulated. This was not necessarily true either.

    What they didn't realize was that it was common place for some banks to bag up silver dollars they did not want and return them to the Fed. And many of those coins were circulated when the bank bagged them up. Others were uncircualted. And when those bags were returned to the mint by the Fed, they got mixed in right with the bags that had never left the mint. And no one was the wiser.

    Bottom line, the type of holder the GSA coin is in doesn't mean much in regard to if the coin is unc or circ.
     
    GDJMSP, Jul 28, 2017
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  16. IBetASilverDollar

    IBetASilverDollar Well-Known Member

    Yeah I understand that part, I was just saying it's strange that a lot of 78-CC's made their way into soft packs but it was not the case for other years even when other years had way higher mintages. It's almost as if the employees sorted by year and started throwing a ton of 78's in soft packs then realized they weren't supposed to be doing that and switched for the future years.

    I just searched all the different years with "soft pack" and sure enough you get a lot of 78 hits and barely any for other years. Mostly non-CC for other years.

    Strange, but I think bottom line is yes the 82-CC soft pack is quite rare, just have to find the right buyer for it now. Good luck and nice find!
     
    IBetASilverDollar, Jul 28, 2017
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  17. C-B-D

    C-B-D Well-Known Member

    Truth be told I bought it not knowing it was a CC. Seller just posted a scan of the obverse and said he "couldn't find a mintmark." I got a nice surprise when I opened it.... and an even nicer surprise when I discovered that the only other one for sale in recent months went for $1632. Maybe it was an anomaly, but in the end, there are no others currently available.
     
    Last edited: Jul 28, 2017
    C-B-D, Jul 28, 2017
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  18. IBetASilverDollar

    IBetASilverDollar Well-Known Member

    lol unreal. Nice score!
     
    IBetASilverDollar, Jul 28, 2017
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  19. Cascade

    Cascade CAC Grader, Founding Member

    Let her rip on eBay. Start at $200, 10 day sale, with a $1500 BIN and see what happens. Or $1800 BIN make offer for 30 days and sit and see what happens.
     
    Cascade, Jul 28, 2017
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  20. C-B-D

    C-B-D Well-Known Member

    I may send it to NGC so the softpack registry set guys have it ready to go. Dunno. No need to rush. I'm into it for almost nothing.
     
    C-B-D, Jul 28, 2017
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  21. Cascade

    Cascade CAC Grader, Founding Member

    Well since our bet technically was for a CC I'll let you make good now and we can trade ;)
     
    Cascade, Jul 28, 2017
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