Why is a 1891-CC Morgan VAM 3 graded 63 worth $850.00. Yet, a GSA is worth $6,100.00. Can someone please explain?
The highest realized price I could find on Heritage is $4700, but I get your point. Others in GSA packaging came in a good bit lower - Those not in GSA packaging are a lot closer to the price you quoted - Why ? Simple answer is because people are crazy about collecting these in GSA packaging. Originally there were 5700 of the 1891-CC Morgans sold in the GSA sales. But over the years a great many of those were broken out of the original packaging and submitted for grading, leaving an unknown number of them still in the original packaging. But those who know the market also know that you seldom find this date/mint in original packaging and thus when you do there is a hefty premium. Some are willing to pay that premium, others are not.