Unopened GSA Silver Dollars??
cj415
Posts: 13 ✭✭
There is a seller selling "unopened" GSA Morgans and I'm really curious about them. They seem to be in the original sealed box from the GSA and they sell for an average of $300 each. The odds are that they will be common 82-CC, 83-CC, or 84-CC, with a value of about $200 each, but there is always the chance to score a high grade or a VAM, or maybe even a key date.
Anyone have thoughts on this? Could the seller be opening the boxes first and somehow re-sealing them? Or, could the dates show up if the boxes were X-rayed. Would the seller really risk selling a sealed box that could have an 1879-CC (~$60,000)? I guess if it were me, I'd open every box to see what I had, and then sell them at $200 for the common ones instead of sell them sealed only making $100 more per box.
It's unclear where these came from, and perhaps the seller is even a member on this forum, but like many people, I love the idea of a treasure hunt.
Comments
Many of the ones on ebay are fake. Skip any plain white boxes. Feel free to PM me any you are considering with dates on them and I can help tell you if fake. I only trust the ones with unbroken mailing labels.
Most real GSA's are stamped on the box with a date, a real white one likely has a non UNC GSA (silver dollar) in it.
Unless you know what you are doing, and/or buying from a trusted source, don't buy an unopened GSA box.
I know Todd, @blu62vette, has seen many more than me so take this with a grain of salt. I had an owner that had an 1885 stamped dated on the box that was not the correct font and I told him so, as he was going to put it up on ebay as an unopened 1885 GSA. So, together we searched and searched and never found one with the same font as his and thus deduced that his was a fake stamp....
Low and behold he decided to open it (it was white by the way) and in fact it did have a nice 1885cc inside. We were both flabbergasted. Cannot explain that one.
My personal point of view on the unmarked is that they do contain one of the 82, 3 or 4 dollars. These were so plentiful that they did not date stamp the boxes. Only the less common ones got the date stamp. So, unless you are looking for a needle in a haystack don't fall for the hype. With almost a million of each of the common dates what are the odds of a high grade? Slim.
bob
Five years ago when I was a coin hoarder and not yet a nascent collector I purchased five of those white boxes. All were 82,83,84 and to make it worse the highest grade they got was 63.
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I bought 12 of the "take your choice Unc. CC Morgans" from the mint when they were offered to the public. 6 were 84s, 5 were 83s, and 1 was an 82. 8 of them were the ugliest Unc. Morgans I have ever seen, and I sold them at cost to Superior Stamp and Coin, because I didn't want to look at them. I kept the nicer looking 4 of them. 1 graded MS 64, 2 graded MS 65, and 1 graded MS 66 and has a sticker.
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@cj415 Where do you propose getting your unopened boxes of Silver Dollars x-rayed? Enquiring minds want to know.
This is so interesting! Yes, the ones I was looking are are the plain white boxes (no labels). The white box looks VERY white. I've seen off-white ones, and even blue ones on eBay. There are a few of them with mailing labels, but they definitely command a premium. I took a stab at one and won it for $290 (one without a label and a very white box). I figure the worst that could happen is that it's a $190 coin.
A recent episode of Pawn Stars had the pilot's silver kit (a sealed block that contained some silver coins and jewelry that a pilot could barter with if he/she ended up in enemy territory). They took one of the sealed kits to get x-rayed. I was wondering, even if there is an unmarked box (without a date), if the date could be seen with an x-ray.
There is something about the needle in the haystack that is so alluring. I also get the same feeling with the New York Bank Hoard Morgans that were discovered last year... it would be fun to own one of those just because they were part of an interesting discovery.
And how will the X-ray read the date?
I have no idea. I only bought one of them on a whim. I don't know who could x-ray it, or how much it would cost. I also don't know this... would an x-ray reveal the date? I was tempted to ask my local veterinarian and see if she'd be willing to give it a go (I had a very sick pet, so over the past year, I think I helped the vet pay her mortgage)... maybe she'd be willing to try an x-ray.
The urge to obtain something for little or nothing is one of the most expensive urges known to the human race through the ages.
And it often leads to great opportunities for savvy, honest sellers, as well as for dishonest ones.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I believe most of the white boxes and from the multi-coin packs. When there is a shipping label you can check the date to see what sale the coin is from. With that information you can determine what lot the coin is from, and the possible coin dates (and possibly mint mark for the non-CC's). There were a few of the 5 coin packs (unopened) that sold on greatcollections.com a while back.
I'll pass on it jmo
Don't bother. Xrays will only show an outline of a coin. It will show thickness differences, but I don't think you'd see enough difference to make out the date.
Although there is this:
https://google.com/url?sa=i&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwjp5-2qx5_mAhXoUt8KHX_TCoUQjRx6BAgBEAQ&url=https%3A%2F%2Fwww.sciencephoto.com%2Fmedia%2F347232%2Fview%2Feuro-coins-in-purse-x-ray&psig=AOvVaw0fyb6108deYpWm2-FnELvR&ust=1575671328999947
It does seem to work with thinner coins. It might work.
https://google.com/url?sa=i&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwiI2ZjJx5_mAhVuk-AKHVU1A8UQjRx6BAgBEAQ&url=https%3A%2F%2Fwww.gettyimages.dk%2Fdetail%2Fphoto%2Fray-of-coins-falling-from-hand-high-res-stock-photography%2F74052443&psig=AOvVaw0fyb6108deYpWm2-FnELvR&ust=1575671328999947
I guess I'm confused. You already bought it - why not just open it?
If you can somehow see by X-Ray that it is not a desirable date, what will you do with it? Try to resell as a sealed coin to get your money back (minus ebay and PayPal fees).
It's kind of like buying a scratch ticket but not scratching it.
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Hi again... no... I am the buyer of one of these. I’m trying to figure out how the seller is doing this and after seeing the Pawn Stars episode, I was intrigued by the x-ray idea. So, when mine arrives, I was going to see if my vet would x-ray it to see what’s visible.
I’m fully planning on opening and keeping it and not reselling it. I did the math and the worst I could lose is $100 (because I paid $290 and the commons are worth $190). In fact, I’d only lose about $70 because I got $30 in eBay bucks for doing the purchase.
The only way this really works for the seller would be if it came out of a labeled multi-pack, or he’s able to peek inside somehow. Hence the curiosity about x-rays.
Please report. I have access to X-ray but no coin. I suppose I could manufacture up a mock test of some kind.
Well, just Love coins, period.
I purchased several unopened GSA boxes years ago from a forum member....all were legitimate, but no remarkable treasures...Though the coins were of high quality - 65, 66.... I still have them, though I did discard the shipping boxes long ago. Cheers, RickO