CC Morgan Dollars - GSA "Slab"
Collectors have come to recognize the historic value
of the coin and holder combination, and some are
willing to pay premiums for coins kept in their original
The General Services Administration was responsible
for sorting and marketing the U.S. Treasury's hoard of
silver dollars, after the Treasury ceased issuing dollar
coins in 1964. In a series of sales lasting from 1973 to
1980, this hoard of several million silver dollars,
mostly Morgan dollars minted at the Carson City Mint,
was dispersed via auction and fixed prices.
Sealed in rigid plastic holders and boxed with a
message from then President Richard M. Nixon, these
silver coins account for most of the Mint State Carson
City Mint Morgan dollars known today.
A great rush occurred during the early 1960s for the
silver dollars, which could be obtained at their face
value. That rush of interest was a departure from the
past. For generations, Morgan and Peace dollars lay
undisturbed in Treasury and Federal Reserve vaults,
serving primarily as a backing for silver certificates. In
1935, when Congress changed the written obligation
appearing on silver certificates so that the notes could
be redeemed "in silver" instead of in "silver dollars,"
production of these coins ceased. Only in the far
Western states were silver dollars used in daily
commerce, and even collectors showed little interest
in Morgan and Peace dollars.
As the public became enamored of silver dollars, lines stretching for blocks formed around the Treasury
Department headquarters in Washington, as speculators bought up silver certificates to redeem them for
$1,000 bags of silver dollars.
In March 1964, the Treasury, having discovered many bags of scarce Carson City dollars, stopped redeeming
silver certificates with silver dollars, offering bars or granules in their place. After June 24, 1968, the redemption
of silver certificates in silver ceased altogether, though the notes remain legal tender to this day.
After the Treasury took stock of its remaining silver dollars, these coins were turned over to the General
Services Administration for disposal at a profit to the government.
The GSA is a government agency with many responsibilities, including the oversight of government property.
The GSA sorted the coins into several categories, the most populous of which was "Uncirculated CC." These
were offered by date for issues of which several thousand or more were available. Those "CC" dollars with low
quantities available or that did not qualify as Uncirculated were lumped into a "Mixed CC" category. Non-CC
dollars and circulated pieces were included in the hoard, too, but many of these were packaged in flexible
plastic envelopes rather than the rigid plastic holders most collectors associate with the GSA hoard.
Sample Asking Prices from one dealer
1880/79 CC PCGS MS-65 VERY HIGH END!
This date is known to come really nice looking-and this coin is no exception. In fact we rank this coin easily in
the top 5% for the grade. It has superior clean, satiny, and lustrous surfaces. Miss Liberty and the details are
well struck and have a heavy coating of frost. The eye appeal is great!
Pop. PCGS 289 / NGC - $3,150.00
1880/79 REV 78 CC PCGS MS-66 AWESOME PUFFY WHITE!
WOW! Looks like an MS67+! PCGS can be so brutal sometimes. We can NOT find anything wrong with this
piece. Virtually flawless surfaces are velvety and have a full booming lustre. Miss Liberty and the details are
incredibly struck. They are coated by a spectacular layer of thick white frost. Her cheek is incredibly clean and
rounded. After 18 years of operations, PCGS has NOT graded ANY MS67's. And believe us, we've seen a few
that deserve the designation (including this piece). Be as picky as you can, this piece WILL please you!
Pop. PCGS 38 / NGC - $8,750.00
1882 CC PCGS MS-65 DMPL SUPER HIGH END!
We surrender! This coin probably has been to PCGS 6x this year between us and the "crackout" guys we
bought it from. At least PCGS showed us how consistant they can be! Both sides have super clean and deep
mirrors. Miss Liberty and the details stand out with sharp strikes and extra thick pure white frost. MS66's cost at
least $5,000.00 now-and thast if you can even find one!
Pop. PCGS 263 / NGC $2,250.0
1883 CC PCGS MS-67 HIGH END!
Great bright white appearance. This piece was an easy buy. Even for an MS67 it is high end. Both sides are
super clean and blast white. A full booming lustre adds to the superior eye appeal. Miss Liberty and the details
are well struck. Her cheek is puffy and rounded. A finer piece would cost you $25,000.00-if one of the 3 was
even available. If you are picky, you should examine this piece personally. We can't see ANY reason why you
wouldn't like it.
Pop. PCGS 81 / NGC $4,250.00
1883 CC PCGS MS-66 DMPL FLASHY!
We got very lucky with our purchasing at the PRE-ANA Show. Thats where we were able to buy some DMPL's
(finally)! This coin is pure mirrors. Hold it at arms lenght and all you see is the liquidity and flash. Overall, the
mirrors are clean. Some light reddish gold color is sprinkled about. Miss Liberty and the detals boldy standout
with sharp strikes and heavily frosted features. This piece is also housed in an older green tag PCGS holder.
They just aren't making high grade DMPL's any more!
Pop. PCGS 78 / NGC $4,950.00
1884 CC PCGS MS-65 DMPL BOLDLY MIRRORED!
Need a mirror to brush your teeth with? Got it right here onthis coin! yes, the mirrors are that deep and clear. A
few tiny ticks are visible-but thats what happens when the mirrors are so strong. Miss Liberty and the details are
heavily frosted and fully struck. There is some gold toning on her cheek (which can easily be dipped off). The
eye appeal and overall quality of this piece is high end. It is housed in an older green tag PCGS holder.
Pop. PCGS / NGC $1,550.00
You get the idea. The GSA sealed coins can be of any value as the above indicates.