OK GSA experts, what's wrong with this auction?

Steve27

LINK

STONE

I'm clueless, but that's why I'm not a GSA expert

CaptHenway

You mean besides the fact that two of the three certificates did not come with these coins, because they are in the "reject" packaging?????

harvey85422458

I'm by no means an expert but looks kosher to me.

Steve27

Ding, ding, ding, we have a winner. Yes two of the coins did not qualify to be in the "uncirculated" holders, but the cards are for the coins in the circulated holders.

19Lyds

Can you be a little more specific Tom?

Isn't a GSA Dollar a GSA Dollar?

19Lyds

OK Steve. Ding ding ding ding ding

I learned simething new today!

Now if I can only remember it!

CalGold

<< <i>but the cards are for the coins in the circulated holders. >>



Not quite. All of the coins are uncirculated -- even the ones in the holders that do not say "uncirculated." The GSA put the most heavily bag marked and "tarnished" coins in holders that just said Carson City Silver Dollar but omitted the work "unciruclated" even though the coins came from the same mint bags as the "uncirculated" ones. The common dates in the uncirculated holders were sold for $30 and the ones in the plain holders were sold for $15. Ironically colorful bag toned coins were treated as tarnished and sold for $15.

The were some circulated GSA coins that were sold in soft packs.

CG

BECOKA

Hmmm. you learn something everyday. Either someone is right or someone is wrong but I can't be sure of which.

So far maybe two people are right and one is wrong or vice versa.

pmac

Calgold is absolutely right. Some of the best toners from the GSA offering were "rejects" because of that reason. This was before toning was fashionable. They might have more bag marks also.

19Lyds

But still, the coins being offered are definitely not toners and caution needs to be taken.

As a newbie Morgan purchaser, I would automatically assume that all three coins were the same, which they are not, so this cautious wisdom which has been shared is appreciated.

Steve27

"Not quite. All of the coins are uncirculated "

That's why I put "uncirculated" in quotes.

CalGold

Steve, you may put "uncirculated" in quotes but you referred to the others as being in a "circulated" holder. The holder does not say circulated, nor did the GSA offer the as such, instead the GSA expalined that the coins were just more abraded or tarnished than the others (and as I recall they came with a card explaining this).



<< <i>But still, the coins being offered are definitely not toners and caution needs to be taken. >>



The caution that needs to be taken is avoid paying more than these common coins are worth. The typical heavily marked up coin is going to be an MS61-62 coin.

CG

CaptHenway

To recap:
Coins in hard plastic holders marked UNCIRCULATED were sold by date, and came with certificates that show the last two digits of the date on them.

"Reject" coins that were literally uncirculated but deemed to be unacceptable because they were toned or excessively bagmarked were sold in hard plastic cases without the word UNCIRCULATED on them. They were distributed at random, and the dateless generic card that came with them explained that they were rejects.

Circulated coins were sold in soft plastic sleeves inside blue envelopes. No certificates.

TD

Steve27

" Steve, you may put "uncirculated" in quotes but you referred to the others as being in a "circulated" holder."

I agree that all the coins are uncirculated, but the nomenclature has been changed over time.

mrpotatoheadd

<< <i>But still, the coins being offered are definitely not toners >>

I'm not so sure about that. Although all the obverses are shown, there are only two reverses pictured in the auction listing, and the second (lower) one appears to have some darker toning around the rim near "UNI" in UNITED and "ONE" in "ONE DOLLAR". The one coin which does not have a reverse picture in the listing could very easily be toned- I have one of the "non-uncirculated" dollars myself which is bright white on the obverse, with a light golden toning on the reverse.

mustanggt

Capt, just to keep the conversation going, didn't the softpacks also have a certificate of sorts (maybe info card)?

Steve27

"Circulated coins were sold in soft plastic sleeves inside blue envelopes."

Except for some of the Peace dollars which were labeled circulated and placed in the soft plastic even though they were uncirculated; hope this clears it all up.

blu62vette

Send the tarnished ones over my direction........

stman

cmerlo1

<< <i> >>



I'll take a 1879 and a 1885...here's my $30.

GSAcollector

I saw nothing unusual in the auction you tagged. These are common date GSA Morgans, but looked to be pretty nice quality (MS64+), accounting for the price paid ($287 per coin). They are all uncirculated, even though only one of the three holders says uncirculated.

Check out this ebay link - anything wrong with this one...can't wait to see how it ends.

Ebay 1882-O GSA Hard Pack

mustanggt

And I believe that this "generic" card would have been the proper one for the two GSA's that do not have uncirculated on the holder.

PrivateCoinCollector

<< <i> >>



Turns out these have some BIG money coins in this group.

Rollerman

Many think that if a coin is white, it HAD to have been dipped somewhere along the line to get that way. Wouldn't the evidence of these GSA dollars, which sat in mint bags for decades, but in "white" condition seem to disprove that belief?
Just wondering.
Pete

mustanggt

Excellent point Pete....

Does anyone have any backgound on a GSA Card with red numbers?

mustanggt

GSACollector, do you mean other than the price?

GSAcollector

Yes - price. Do you think it will attract any bids?

1882-O GSA Ebay Link

mustanggt

Almost $9,000, what am I missing?????

PrivateCoinCollector

If it is for real it is quite a rarity in that grade. Problem is I know a guy who saw this coin in hand and said he could smell glue and the case looked funny somehow. It is just a matter of time before someone figures out how to open these GSA holders and replaces the contents with a common non CC which makes it an uncommon GSA. I can't understand how someone whould pay that kind of money for an unbanded GSA. Buyer beware.