GSA Hoard - 1883 CC Morgan

Discussion in 'US Coins Forum' started by Jonathon in Chandler, Jul 23, 2019.

  1. Hello,

    I recently acquired one of these dollars in the original GSA encapsulation. I sent it to NGC to get graded and received it back Purple Details Grade. Usually a details grade is due to cleaning or something done to the coin, but since it is uncirculated has anyone ever heard of this happening?

    Here is the coin description:

    1883/1883 CC VAM-4 GSA HOARD $1
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  3. Morgandude11

    Morgandude11 As long as it's Silver, I'm listening

    Pictures, please.
  4. C-B-D

    C-B-D Well-Known Member

    There are "details" coins in the GSA hoard.
  5. thomas mozzillo

    thomas mozzillo Supporter! Supporter

    Did they indicate why they gave it a details grade? I don't know if they put it on every holder but I've seen a lot of coins with the reason for the details on the label; e.g. XF details, cleaned; AU details, reverse scratch; Altered surface, etc.
    Last edited: Jul 23, 2019
  6. MeowtheKitty

    MeowtheKitty Well-Known Member

    Now that's a real bummer eh? Cant even trust the government to sell you coins.
  7. No reason given just purple tag

    Here is the NGC number
  8. C-B-D

    C-B-D Well-Known Member

    Here's what it says:

    GDJMSP Numismatist Moderator

    Yes. Not even all that uncommon.

    One has to understand a few things. First of all, the GSA coins were not all uncirculated to begin with. Ya see, the coins didn't all come from bags that had sat in the mint vaults undistributed for years and years. Many of those bags were bags that had been returned to the mint by the banks - after they were distributed and in circulation for a while. And the bags contained both uncirculated and circulated coins that had been gathered up by the banks and put in a bag. Then returned to the mint because they simply didn't want them.

    But even that wasn't enough. When the coins were checked, packaged and readied for sale to the public in the GSA sales, the people who did the actual checking had no idea at all of how to tell a circ coin from an unc coin. In other words they had no expertise whatsoever. So many circ coins were placed in unc holders, and many unc coins were placed in circ holders - then they were sold as such.

    Now anyone who collects these coins should know all this - before they ever buy any !
    Last edited: Jul 25, 2019
  10. Collecting Nut

    Collecting Nut Borderline Hoarder

    That's a bummer but a good learning experience. Welcome to CT.
  11. thomas mozzillo

    thomas mozzillo Supporter! Supporter

    Do you know if they grade circulated coins in GSA holders? Or would it have to be cracked out of the GSA holder before sending it in?
  12. Santinidollar

    Santinidollar Supporter! Supporter

    Thanks, guys! I didn’t realize all of that.
  13. Burton Strauss III

    Burton Strauss III Well-Known Member

    Don't remove it from the GSA packaging - that erases all linkage to the GSA.

    NGC "certifies" them by putting a label around the edge. PCGS has an over box.

    Years ago, PCGS & NGC would crack them out and put into standard holders with the GSA reference on the label.
  14. johnmilton

    johnmilton Well-Known Member

    The government did not grade this coin as "Uncirculated" when it was issued. If it had, the word "Uncircualted" would have been on the GSA holder.

    This does not mean that the coin is, in fact, something less than Mint State. The people who graded these coins for the government placed toned coins in plain holders that were Mint State pieces. They are called pieces with a number of bag marks less than "Uncirculated."

    I can't tell what the problem is with coin from the photos because you have a big white spot runing though the most important part of both photos. I am guessing that the coin has been cleaned and that the luster is impaired.
  15. Burton Strauss III

    Burton Strauss III Well-Known Member

  16. GDJMSP

    GDJMSP Numismatist Moderator

    They'll grade it whatever they think it is - and leave in the GSA holder.
  17. Jersey magic man

    Jersey magic man Supporter! Supporter

    Is it just me or does this coin look like it is damaged from being in some sort of jewelry holder or maybe a belt buckle?
  18. Morgandude11

    Morgandude11 As long as it's Silver, I'm listening

    100% leave Morgan GSAs in the holder, and get the NGC ribbon, if you want a GSA graded. They are much more valuable in the original GSA holder. Cracking out a GSA is a mistake.
  19. Darkside

    Darkside Member

    I'd love to see a GSA holder with an NGC details label on it.

    They always send them back to me as 'ungradable' with no label affixed or adjectival grade assigned. They do however include a separate label with the primary surface issue indicated.

    A straight on photo with no glare may reveal a wheel mark or such on the coin.
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