The following post is pulled from Coin World editor Steve
Roach’s Market Analysis column in the Oct. 13 issue.
For each so-called rule in numismatics, there are exceptions.
For example, “Buy the coin, not the holder” is an oft-repeated
adage. Three recent online auctions proved exceptions to this rule;
for each, a silver dollar’s value was substantially enhanced by its holder.
Here's a profile of one of those three silver dollars:
The coin: 1884-S Morgan dollar, ungraded, GSA ‘soft pack’
The price: $8,288.02
story: Collectors are most familiar with the hard plastic black
GSA holders, but Morgan (and other) silver dollar types were also sold
by the GSA in more flexible “soft pack” holders.
soft plastic holders contain a silver dollar and a plastic GSA token.
A wide range of dates were packaged this way — in both circulated and
Mint State condition — and estimates of the number of GSA “soft pack”
dollars sold typically are at the 100,000 level. Just a fraction
The GSA-issued card with this 1884-S
Morgan dollar characterizes it as “a memento of a bygone era.”
The dollar, sold ungraded by the seller, Hartsdale, N.Y., coin
Exchange, brought $8,288.02 in an Aug. 24 eBay auction.
The seller noted, “We were all taken by surprise with how well
this coin did.” It had come into the store with a collection of
low-value silver and generic silver dollars. The seller added,
“Everyone we spoke with thought it would sell in the $6500-7500 range
so it definitely surpassed our expectations.”
Read the rest of Steve Roach's 'Buy the Holder' Market Analysis:
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issue 1879-CC Morgan dollar in black GSA holder sold for $42,777:
'Buy the Holder' Market Analysis
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