‘Frosty, vibrant’ best describes this MS-64 1879-CC Morgan dollar

Market Analysis: Collectors pay huge premiums when a Morgan dollar is premium quality
By , Coin World
Published : 05/19/17
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As a general rule collectors of Morgan silver dollars fall into two groups: those that like their coins colorful and toned, and those that prefer their dollars brilliant and frosty. Heritage’s recent April 28 afternoon auction session at the Central States Numismatic Society convention in metropolitan Chicago included several standout dollars that were recognized by bidders at being premium for the grade. When it comes to Morgan dollars that are at the top of their grade — especially when numerically finer examples are unknown — collectors are willing to open their checkbook to pay exceptionally strong prices in their quest for the best. 

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Here is one of three examples of premium Morgan dollars from the CSNS convention’s Heritage sale that prove that point:

The Lot:

1879-CC Morgan dollar, MS-64, CAC sticker

The Price:

$16,450

The Story:

The 1879-CC Morgan dollar is a well-known tougher date in the Morgan dollar series, though among Carson City Mint issues it remains in the shadow of the low-mintage 1889-CC dollar. On April 28 Heritage sold for $16,450 an 1879-CC Morgan dollar graded PCGS MS-64 with a green CAC sticker that offered “frosty, vibrant mint luster,” observing that its untoned surfaces showed abrasions “far less bothersome than typical for the grade.”


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Perhaps the bidder thinks that he or she might be able to get it in an MS-65 holder?

The cost of Gem MS-65 examples — which can approach $30,000 — places pressure on nice MS-64 coins such as the subject example. Two 1879-CC Morgan dollars graded MS-64 sold for $8,225 at auction earlier this year with a nice MS-64+ example realizing $12,925 at Stack’s Bowers Galleries’ recent March Baltimore auctions.

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