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Unopened GSA - To open or not to open

jmcu12jmcu12 Posts: 2,452 ✭✭✭
I am getting an itch to open an Unopened-GSA that GSAguy sold me. Should I 'itch' that 'scratch'?
Awarded latest "YOU SUCK!": June 11, 2014
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  • orevilleoreville Posts: 11,758 ✭✭✭✭✭
    jmcu12: Take a cold shower and control yourself!image

    Keep it unopened. Someday you will appreciate it even more.
    A Collectors Universe poster since 1997!
  • gsaguygsaguy Posts: 2,425
    Oreville speaks with wisdom.....listen to him grasshopper.

    GSAGUY
    image
  • Keep it, and keep it in the holder.

    Ultimately, up to you. I wouldn't crack it.
  • Dennis88Dennis88 Posts: 5,797 ✭✭✭
    Keep it in the holder and sent it do NGC.

    Dennis
  • PlacidPlacid Posts: 11,301 ✭✭✭
    1889-CC 1
    1890-CC 3,949
    1891-CC 5,687
    1892-CC 1
    1893-CC 1


    Have these all been found?
  • StuartStuart Posts: 9,761 ✭✭✭✭✭
    jmcu12: Put it away somewhere safe where you'll forget about it, and take out an opened GSA Morgan to play with to help forget about the unopened box.

    Look at it this way.. The odds are that if you open it you'll be disappointed to find out that it's probably an 1882-CC, 1883-CC or 1884-CC.

    If you keep it unopened, then you can imagine that it's possibly one of the scarcer issues. And that may be worth keeping it unopened...

    Stuart

    Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal

    "Luck is what happens when Preparation meets Opportunity"
  • PlacidPlacid Posts: 11,301 ✭✭✭
    So this is about value and box collecting? Hehe if you wanted a morgan why not just buy one?
  • MadMartyMadMarty Posts: 16,697 ✭✭✭
    Don't open it!!! The last one I opened from that GSAGuy bum had a 1971-S Ike in it!!!image
    It is not exactly cheating, I prefer to consider it creative problem solving!!!

  • StuartStuart Posts: 9,761 ✭✭✭✭✭
    I bet that made you MadMarty!! image

    Stuart

    Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal

    "Luck is what happens when Preparation meets Opportunity"
  • MadMartyMadMarty Posts: 16,697 ✭✭✭
    No, glued it back together and sold it to Cammy!
    It is not exactly cheating, I prefer to consider it creative problem solving!!!

  • dorkkarldorkkarl Posts: 12,692 ✭✭✭
    when in doubt, crack it out

    you can live by those words!

    K S
  • TrooperTrooper Posts: 1,450
    I say leave it alone...
    I have the same dilema myself and the urge to opened passed after I put it in the saftey deposit box for about 6 months.


    But then again...If you do rip it open, i'm sure we'd all like to see..
    Tom
  • XpipedreamRXpipedreamR Posts: 8,059 ✭✭
    I don't understand having coins you can't look at. I'm not saying it's wrong, but it's not coin collecting...I can't relate.





    image
  • StuartStuart Posts: 9,761 ✭✭✭✭✭
    XpipedreamR: There are at least 3 reasons why one would purchase an unopened GSA Morgan in a box:

    1) To have the thrill of opening it (if you so desire) and the (speculative) excitement of finding out which date it is

    2) To flip the unopened pkg to someone else at a profit, or to hold it long-term for the same intent

    3) To keep the unopened boxed coin just for the pride and thrill of ownership -- and the mystique of not knowing what's really inside the box.

    Stuart

    Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal

    "Luck is what happens when Preparation meets Opportunity"
  • LanLordLanLord Posts: 11,665 ✭✭✭✭✭
    Have a lottery, sell spots on a sheet for 30 bucks a spot. Winner gets the coin

    The guess needs to be correct on:

    1 - Date
    2 - Any VAM number
    3 - Grade (we should have someone impartial and honest grade it - although where you gonna find that around here?image) (the person grading it can't participate in lottery)
    4 - White vs Obv toned only vs Rev toned only vs dual sided tone

    This should give you enough spots to sell to recoup your outlay for the coin and the winner gets something cool.
  • I have one from GSAGUY also, its tempting, but I will keep it unopened, I think about opening it once a week though, then I slap myself up side the head and say Hell no you aint either.
    Allen
    Love those TONED Coins, a true Addict!!!

    Proud member of TCCS!
  • orevilleoreville Posts: 11,758 ✭✭✭✭✭
    Steve27: I beg to differ. In the early 1970's I ordered some of those GSA silver dollars in the original sale in those "box of five." I did NOT get an invoice or any other indication as to what was in the boxes. It was pure "pot luck" back then.

    Indeed, I had opened 4 of the five I had bought (I seem to remember the purchase price as $30 each) and 2 of them were 1882-CC, another 1883-CC and the last one was an 1891-CC. By the way, these were the uncirculated ones I had purchased. The "non" uncirculated one, I seem to remember sold for $15 each.

    Incidentally, I still have that last one, unopened. I wished I had saved the entire box of five, the box and all the literature.

    There is nothing more numismatic than the topic of unopened GSA boxes of silver dollars!!!!!!!!!!!!!

    A Collectors Universe poster since 1997!
  • XpipedreamRXpipedreamR Posts: 8,059 ✭✭
    I guess I can appreciate that, Stuart.



    Hopefully someday I will be able to afford coins that I can't seeimage
  • StuartStuart Posts: 9,761 ✭✭✭✭✭


    << <i>Hopefully someday I will be able to afford coins that I can't see >>

    image

    Stuart

    Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal

    "Luck is what happens when Preparation meets Opportunity"
  • Steve27Steve27 Posts: 13,256 ✭✭✭
    Oreville,

    I have the original invoice, which includes the date, the bid price, and the price paid, for the seven I have. Your memory is just faulty.
    "It's far easier to fight for principles, than to live up to them." Adlai Stevenson
  • BigAlBigAl Posts: 1,129 ✭✭✭

    what if it's an ultra cameo dmpl?

    someday someone will open it....may as well be you. don't wait till your deathbed though, if it is a udm give yourself some time to enjoy it.
  • StuartStuart Posts: 9,761 ✭✭✭✭✭
    BigAl: I don't disagree with you, which I guess means that I agree with you image.

    However, I feel that it depends on the original reason why jmcu12 decided to purchase the unopened GSA Boxed Morgan.

    Stuart

    Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal

    "Luck is what happens when Preparation meets Opportunity"
  • gsaguygsaguy Posts: 2,425
    <<One more point, the original owner received an invoice from the mint telling him what was in the box, so don't think just because it's never been opened, that it's random as to what's inside. >>

    Steve27,

    I agree with the fact that the chances are the coins are common-date and in butt-ugly condition and that's what I tell every buyer of these coins who ask my opinion.

    But I do believe that Oreville is also correct when it comes to the $15.00 category or Mixed CC category. These coins, which included all dates in the hoard and the three dates represented by one example each, were all placed in 'silver dollar' hardpacks. They were then sold randomly, so once packaged, no one knew what dates were inside and the outer boxes were not date-stamped.

    GSAGUY
    image
  • CherwoodCherwood Posts: 1,073
    OK........question. What the heck does GSA stand for?

    Cheryl
    Cheryl........."She was not quite what you would call refined. She was not quite what you would call unrefined. She was the kind of person that keeps a parrot." - Mark Twain

    Cher-Wood Forest Aviary

    image

    POTD - May 26, 2005
  • gsaguygsaguy Posts: 2,425
    General Services Administration......a government body which has many responsibilities, one of which is to sell off used government property.

    GSAGUY
    image
  • StuartStuart Posts: 9,761 ✭✭✭✭✭
    GSA is also the first 3 letters of a well-respected toned CC Morgan Dollar dealer/collector who participates on this forum using the pseudonym GSAGUY pictured wearing coonskin hair image

    Stuart

    Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal

    "Luck is what happens when Preparation meets Opportunity"
  • CherwoodCherwood Posts: 1,073
    So the GSA sells these silver dollars in holders where you can't see the coin and don't know what date you are getting? Kinda like a grab bag? Hmmmm.........

    Cheryl
    Cheryl........."She was not quite what you would call refined. She was not quite what you would call unrefined. She was the kind of person that keeps a parrot." - Mark Twain

    Cher-Wood Forest Aviary

    image

    POTD - May 26, 2005
  • << General Services Administration......a government body which has many responsibilities, one of which is to sell off used government property. >>

    Hey, good answer GSAguy! image

    BTW, NGC will slab these "in place" so that the original government packaging stays intact (great idea that PCGS did not adopt).

    In my last job, the GSA would pay us some friendly (I say sarchastically) visits to audit or report on our Army program. They are also a watchdog for the government. So, I am intimately familiar with these guys. image
    Author of MrKelso's official cheat thread words of wisdom on 5/30/04. image
    imageimage
    Check out a Vanguard Roth IRA.
  • gsaguygsaguy Posts: 2,425
    No Cheryl.....most of the coins were sold by date. But there were three categories that were basically grab-bag.

    These would have been as follows:

    Mixed CC: Originally sold at $15.00 each and represented by all dates. These coins were either heavily bagmarked or 'tarnished'. The GSA admitted that they were likely uncirculated but didn't meet their miniumum standards for that category.

    Mixed Year: These were sold for a minimum bid of $5.00 each and represented mintmarks other than CC coins. Again, they were not sold by specific dates, were sold in the GSA hardpacks and were for the most part uncirculated. I have seen a few that were damaged and would not grade unc by today's standard.

    Mixed Circulated: These coins were sold in the GSA softpacks for a minimum bid of $3.00 each. Most were circulated but many were not. They include examples from all mints of the time, including the CC mint.

    All GSA coins were shipped in some type of protective outer container. Most were opened upon receipt. But, like mint sets of recent times, many were never opened by the recipient.

    These are the coins we're discussing today.

    GSAGUY
    image
  • CherwoodCherwood Posts: 1,073
    Thanks for the explanation - I'm a newbie.

    But I don't think I could stand not opening them.....it would drive me crazy!

    Cheryl
    Cheryl........."She was not quite what you would call refined. She was not quite what you would call unrefined. She was the kind of person that keeps a parrot." - Mark Twain

    Cher-Wood Forest Aviary

    image

    POTD - May 26, 2005
  • gsaguygsaguy Posts: 2,425
    My pleasure Cheryl, I'm filled with worthless knowledge about the GSA sale............and other things too.image

    GSAGUY
    image
  • mgoodm3mgoodm3 Posts: 17,497 ✭✭✭
    Open it. Why buy a coin if you can't look at it. If you want it as an investment, then great, leave it unopened.
    coinimaging.com/my photography articles Check out the new macro lens testing section


  • << <i>What the heck does GSA stand for? >>

    The General Services Administration (GSA) 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.
    J.Kriek
    Morgan Dollar Aficionado & Vammer
    Current Set: Morgan Hit List 40 VAM Set
  • orevilleoreville Posts: 11,758 ✭✭✭✭✭
    Steve27: I believe that the GSA had two major sales of the original hardbacks. The first (or the second one, I can't remember) was by date and with a bid price just as you state. Thenthere was a major furor over the poor sales of the uncirculated silver dollars that were at the time, in excess of the market price that they had to do the sale again. I believe that one of the sales had a flat price whether uncirculated or not and that it was a lottery system. What I cannot remember is which one.

    Sure my memory is faulty. But faulty in the strangest ways and oddly I seem to remember all this useless information.

    Does anyone have any of the original sales literature?

    it would be fun to pull them out.

    A Collectors Universe poster since 1997!
  • orevilleoreville Posts: 11,758 ✭✭✭✭✭
    Steve27:

    Trooper just sent me copies of the original GSA order form and I was correct. Thanks Trooper!!!

    I believe this was the second go-around on these GSA sales.

    Strangely enough one of the packages was callled POTLUCK! I had not used or seen that word in over 30 years!!!!

    The ordering period was June 1 to July 30, 1973.

    The wording in quotes iis right from their sales brochure.

    "THE POTLUCK!" for $5 allowed purchases of "Uncirculated Morgan and Peace Dollars-mixed coins from various mints excluding Carson City. Packaged in a durable plastic case."

    "THE SILVER BONANZA! So little could buy so much history famous 90% silver cartwheels made from silver mined from the Comstock Lode. Each is packaged in an attractive presdentation case. SELECTION #3 Carson City Silver Dollars (mixed 1879-85, 1990 & 1891) never before circulated by U.S. Government, culled out of the Government's holdings of silver dollars since they did not meet the standards for "uncirculated " due to nicks and tarnish. Minimum bid $15 per coin."
    A Collectors Universe poster since 1997!
  • Wolf359Wolf359 Posts: 7,653 ✭✭✭
    What mgood3 said. I would have opened that sucker 30 seconds after I got it.
  • From what I have read, all key dates are printed on the cardboard. If no date on box it is 1882-1884 cc

  • OwnerofawheatiehordeOwnerofawheatiehorde Posts: 1,456 ✭✭✭✭✭

    I’m waiting to see that skeleton @Manifest_Destiny ;)

    Type collector, mainly into Seated. Young Numismatist. Good BST transactions with: mirabela, OKCC, MICHAELDIXON

  • jacrispiesjacrispies Posts: 670 ✭✭✭✭✭

    @Golfpro said:
    From what I have read, all key dates are printed on the cardboard. If no date on box it is 1882-1884 cc

    I am sure the OP had his question answered 20 years ago.

    "For the wages of sin is death, but the free gift of God is eternal life in Christ Jesus our Lord" Romans 6:23. Young fellow suffering from Bust Half fever.

  • SoCalBigMarkSoCalBigMark Posts: 2,784 ✭✭✭✭✭

    I see dead people.

  • rte592rte592 Posts: 1,386 ✭✭✭✭✭
    edited January 23, 2024 2:33AM

    20 years ago they Sweated open a small corner of the package, used a bore scope to do the reveal and were probably disappointed 😔

  • OnastoneOnastone Posts: 3,743 ✭✭✭✭✭

    @jacrispies said:

    @Golfpro said:
    From what I have read, all key dates are printed on the cardboard. If no date on box it is 1882-1884 cc

    I am sure the OP had his question answered 20 years ago.

    But wouldn't he have let us know what was inside if he opened it??? @jmcu12 DID YOU OPEN IT YET???

  • jmlanzafjmlanzaf Posts: 31,311 ✭✭✭✭✭

    @Golfpro said:
    From what I have read, all key dates are printed on the cardboard. If no date on box it is 1882-1884 cc

    The dates were printed on the shipping label not the box itself for all dates. So if the label is gone or damaged, the dead guy you're talking to wouldn't know what was in the box.

  • Manifest_DestinyManifest_Destiny Posts: 3,046 ✭✭✭✭✭

  • JimTylerJimTyler Posts: 3,000 ✭✭✭✭✭

    How many here were still in diapers when this thread was started.

  • GotTheBugGotTheBug Posts: 1,519 ✭✭✭✭✭

    This comment is not intended to disparage anything or anybody. Sometimes I think that we are participating in a very, very strange hobby. That being said I sure do love it :)

  • ifthevamzarockinifthevamzarockin Posts: 8,498 ✭✭✭✭✭

    @jmlanzaf said:
    the dead guy you're talking to wouldn't know what was in the box.

    @jmcu12 was last active on Sep 7, 2023 ;)

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