NGC grades first Mint State 68 1884-CC Morgan dollar while still in its GSA holder

Coin from among mintage of 1,136,000 coins
By , Coin World
Published : 04/10/15
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Numismatic Guaranty Corp. has certified as Mint State 68 an 1884-CC Morgan dollar secured in its as-issued General Services Administration Hoard holder.

Max Spiegel, vice president of sales and marketing for NGC’s parent entity, Certified Collectibles Group, said April 9 that the coin is the first and only NGC MS-68 GSA Hoard 1884-CC Morgan dollar and one of only two 1884-CC dollars certified as MS-68.

The other MS-68 1884-CC Morgan dollar is not in a GSA holder, according to Spiegel.

The NGC MS-68 1884-CC GSA Hoard dollar is being offered by Numismatic Financial Corp.

Approximately 85 percent of the Carson City Mint’s production of 1,136,000 1884-CC Morgan dollars ended up in GSA holders.

GSA refers to the General Services Administration sales in the 1970s of surplus silver dollars stored in 1,000-coin bags by the Treasury Department.

A total of 962,638 of the 1884-CC Morgan dollars were still in Treasury vaults after March 1964, when a halt was ordered to the great Treasury release of silver dollars at face value that began in October 1962.

The 1884-CC coins were among 2.9 million silver dollars transferred from the Treasury to the GSA and stored at the West Point Silver Bullion Depository.

The GSA’s inventory included 788,627 Uncirculated 1884-CC Morgan dollars, plus 174,008 culls (rejected for quality reasons) and three reserved for inspection.

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