So how does a circulated 1893-CC Dollar end up in GSA soft plastic?

MGLICKER

Text


What was the reason for the General Services Administration to package circulated coins?

TONEDDOLLARS

There were a number of coins that were circulated or assumed circulated that went into GSA soft packs. I have several of these coins that are uncirculated that were sold in the GSA sale. These coins sold for three dollars apiece.

rec78

To make a profit. In years prior to the GSA sales you could get them for face value at banks. When you ordered them you did not know what date or mint mark you were going to get.

MGLICKER

<< <i>There were a number of coins that were circulated or assumed circulated that went into GSA soft packs. >>



So they merely plucked coins from circulation to package and resell for a profit?

TONEDDOLLARS

No the fed had bags of circulated dollar coins in their hands when they stopped passing them out to the public

MGLICKER

<< <i>No the fed had bags of circulated dollar coins in their hands when they stopped passing them out to the public >>




Got it. What year (years) were the circulated GSA coins issued?

TONEDDOLLARS

TONEDDOLLARS

1972-1980

MGLICKER

<< <i>1972-1980 >>



Thank you!

BStrauss3

The bags had laid in vaults for years and years and years. Been shipped across the country in trains (coins sliding across each other). In once case the bags burst and when they opened the vaults a river of coins spilled out.

MGLICKER

<< <i>The bags had laid in vaults for years and years and years. Been shipped across the country in trains (coins sliding across each other). In once case the bags burst and when they opened the vaults a river of coins spilled out. >>



That may take you down to an AU or maybe XF condition....but not to G6.

DaveG

If you're interested in the history of the packaging and selling of the GSA hoard of Morgan dollars, the complete story is in the VAM book.

There's also a pretty good discussion in QDB's Silver Dollar Encyclopedia.

LindeDad

People liked paper dollars just like now. Banks ended up sending them back to the Federal Reserve just like they do now.

Mitchell

A few more details on the GSA softpacks:

The circulated dollars in the GSA Sale were sold in June 1973 in the sale "The Coins Jesse James Never Got". About 100,000 circulated silver dollars (Seated, Morgan, and Peace) dollars from the Treasury stash were put in the category "Mixed Circulated Dollars" at a fixed price of $3. This sales category offered the best bet in the entire GSA sale. This category included CC Morgans that may have gone into circulation but does contain some uncirculated coins. You have to remember that the sorters were not numismatists and so this category was truly a pot-luck. For example, I own an 81-CC in a softpack that would probably grade at MS63. How did this coin get in there - who knows?

The current NGC census for 1893-CC totals 9 coins, 4 G, 4 VG, and 1 F. I have an ungraded 93-CC and I have seen several other ungraded 93-CCs, so the true census is is more than 10. Does it go much higher? Your guess is as good as mine.

The GSA never created a census of the circulated dollars so the true populations are not known.

You can try building a CC set of soft packs but it'll be a tough challenge. There are no known 1884-CC, 1885-CCs, 1889-CC softpacks in the NGC population. I've heard rumors of sightings of those dates but I have yet to be shown one.

MGLICKER

$2100 auction close on the OP coin.

Timbuk3

Sweet, I like it !!!

BustHalfBrian

<< <i>$2100 auction close on the OP coin. >>



And there are many GSA "Soft Pack" dollars worth much more.

An 84-S in XF/AU sold on eBay last year for $8k+. A circ Seated Dollar sold several years prior for $10k+.

TwoSides2aCoin

<< <i>Text


What was the reason for the General Services Administration to package circulated coins? >>



Nixon was looking for a way to divert attention away from Watergate.
Voila : " Operation Floodgate "

Another government conspiracy.