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Longstrider's Blog

02 Jul 2016

MORGAN DOLLAR GSA HOARD

Coins | Longstrider

   So, it's been a while since I posted a new coin and I think it's time. I recently acquired this 1884 CC GSA Morgan Silver Dollar. I bought this coin from my regular coin dealer. He had set it aside for me as he knows I enjoy toned coins. Not only is this a toned Morgan, It also shows the pattern of the burlap bag it was encased in. That means it was in direct contact with the Carson City mint bag since 1884 till October 1972 when the three most common CC were auctioned off. The 1882, 83 and 84. I'm not going to go into details of the GSA sales,, it was multi tiered, but I greatly encourage anyone interested to look it up. Its CRAZY!!! Some people made a ton of money and some lost a ton, as their rare coin was no longer rare!!!!!! In 1884 the Philly mint produced approximately 14,070,000 Morgan Dollars. Of these, only 1,136,000 were minted at Carson City. Of this reduced number, only 962,638 were GSA holdings. 
   I purchased this coin ungraded and sent it into NGC. This a benefit of being an ANA member. My dealer believed this would grade MS 63. In fact, it came back MS 64 GSA Hoard! There is no extra grade for eye appeal or anything else as the coin is already encased in the original GSA plastic slab. To say the least, I am extremely happy with the results! I feel that the toning and burlap patterning adds enormous value and eye appeal to the coin.
   I'm getting a bit wordy so it's time to stop. I won't even get into the VAM attributes! Thanks for looking and any replies. 

Comments

coinsbygary

Level 5

Nice coin! The GSA's are among my all time favorites and my favorite among Morgans. I got 6 of em 1880-84 and they're all pretty cool! My 84 is an MS-64 like yours less the toning. Congrats on the surprise grade to 64!

user_7180

Level 5

Congratulations. A wonderful addition to any collection!

Pliny The Elder

Level 5

Excellent to hear. Thanks for sharing this.

World_Coin_Nut

Level 5

Super coin. The burlap pattern is incredible. I have seen some with this pattern on a small piece but never the entire obverse. Very nice pickup.

ShriekenGriffon

Level 5

That is one cool coin!

SpartaCuse

Level 4

Very Cool Strider - Anything like that has a great story behind it & now you are part of the story

ZanzibarCoins

Level 4

Beautiful coin and the burlap patterns are quite unique! What a great find!!!

Kepi

Level 6

Wow! Amazing coin and history! Love the toning and burlap pattern...very unique!

Mike

Level 7

Nice pickup my friend! Anytime you can get a Morgan like that things are good. I'm going back to buying on the second of July . I forgot what it is to buy a coin it seems so long. It's good to see you guys are doing well. Take care Mike.

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