What is the difference: GSA Morgan Silver Dollar vs GSA Morgan Uncirculated Silver Dollar

When the GSA started selling CC Silver Dollars, I know that there were several waves of sales, with some being rarer dates and others being common dates.

However, I see that come of the GSA plastic cases say "Silver Dollar" and some say "Uncirculated Silver Dollar". I've see both types for CC. I'm not sure if I've ever seen an "Uncirculated Silver Dollar" from the other mints.

I had always thought that it was the gas attempting to grade the coins that the ones they felt didn't make the "Uncirculated" grade will put in holders that did not say "Uncirculated." However, The coins look uncirculated to me.

Does anyone know the criteria for choosing one holder over another? Has anyone ever really seen a heavily circulated coin in a GSA holder?

Just looking for some clarification since, to my eye, I can't see any differences in the coins when one says "uncirculated" and the other doesn't.

 

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The ones that say uncirculated silver dollars are usually ms ones i believe and silver dollar refers to circulated but most likely im wrong goodnight.

 

Found the answer this was said by condor 10 years ago in a thread similar to yours

 

Thank you. I looked through the past threads and didn't see that one, so thank you for sleuthing!

So, the GSA thought that the Uncirculated ones were the highest quality. Interestingly, some of the ones are are missing the "uncirculated" writing can have some really nice grades. I guess the GSA thought that toning was a negative characteristic, but the TPGs must look beyond that.

 

I have an 1883-CC in a Carson City / Uncirculated Silver Dollar plastic holder.

Maybe it has a chance of grading 1 or 2 higher than the MS62/63 average.

 

GSA THOUGHT they were the highest quality, but all (virtually all ?) of the coins WERE in fact uncirculated -- right ?

They probably got confused by the bag marks and assumed the coins circulated.

 

Heavily-bagged coins are still MS, we agree on that.

Right ?

 

It was all a marketing tool.

 

No argument on that, and as it should be. I don't expect them to know that.

If anybody submits the coin -- in OGP or not -- they'll at least get a professional grade and not some secretary or GSA worker's "opinion."

Did you get any of these when they came out, GD ?

 

Dealers at coin shows and LCS had plenty of them in the 1970's ?

I thought there was a purchase limit and it would have been tougher back then for a dealer or dealers to get lots of them unless they bought them one-by-one.

Plus, with the opportunity to buy direct from the GSA, you'd figure very few would want to buy one at a mark-up price from a dealer or LCS (at least until silver started to rise a few years later).

 

Some of the categories had limits, some didn't. Originally the GSA thought the coins would sell out in the first round of sales. With the exception of one or two categories they did not. They had to go through SEVERAL sales and still had thousands of 1883 and 1884 CC dollars on hand for the final sale in 1980 almost 10 years later.

And yes the dealers also bought a lot of the coins in the aftermarket as well. Back at shows in the early 70's you would be constantly hearing the CRACK of GSA holder being broken open to get the coins out, and waste bins full of holders at the end of the show.

 

From what I have understood, these GSA dollars were graded by some college students the GSA hired. They gave them a quickee course in grading and turned them lose. I have understood that toning was one of things that could land a dollar in a less than "Uncirculated" holder. We all know that is not the case.

 

Interesting, thanks Conder !

I'm surprised they did that, since the alternative today (the nice TPG holders) wasn't an option back then.

I guess folks wanted them in those 2"x2" white holders, huh ? Or maybe velvet pouches or in albums ?

 

I don't even know why they needed ANY graders.

All the coins were in vaults...which by definition meant "uncirculated."

 

The GSA holders without "Uncirculated" on them sometimes made the coins harder to sell. Hence you heard the cracking sound. Also albums were a lot more popular in the '70s before there were slabs. If you wanted your collection lined up in an album, like ducks in a row, the GSA slab did not please you.

 

BTW, on the subject of these hoards and the 1962 release....I have a 1959 Max Mehl price list which lists the 1903-O for $500. I am not sure if that is the price to buy it from him (probably) or what he would pay.

My understanding was the price was $1,500 when the 1903-O's hit in late-1962. I guess the price moved a bunch in 3 years.

 

During the sales the GSA used fed employees to sort the coins. None or very few knew anything about coins. They were told " if it's bright and shiny and white and came from a CC bag was put in a CC uncirculated dollar holder. Any that had big marks or was toned in any way and came from a CC bag were put in CC Silver Dollar holders. One of the sales in the late 70's had all the coins in CC holders for sale at $15 each. I ordered 75 of them. The government cut all orders to a limit of 5 and cut many orders to Zero. I was lucky and got the one order of 5. It had one 1882 CC, one 1883 CC, one 1884 CC and 2- 1885 CC for my $75 dollars. I sold one of the 85's for $850 several years ago.