Can you confirm this, or is it a Numismatic Urban Legend??

keets

A dealer I know well and trust was in the store the other day. While we were talking and trading stories he told me one story that is almost unbelievable. Apparently he was set-up in Baltimore many years ago and while talking to another dealer he was told of a recent trip the guy had made to Stack's in New York City. While there the guy was taken into the vault and shown a Mint Sewn bag of 1889-CC Morgan Dollars that they had owned for awhile.



If I understood the timeline correctly it was around 1986. My friend told me he doubted the whole thing but years later he read an account in one of the Bowers books that seemed to verify that the bag of Dollars did in fact exist.



So tell me, did Stack's have that bag or does it still exist??



Al H.

Coinosaurus

Dunno about the "Mint sewn bag" part of it, but Bowers confirms bag quantities in his silver dollar Encyclopedia, "as many as seven."

keyman64

TopographicOceans

El Chupacabra has the mint sown bags of Carson City dollars.
Believe in El Chupacabra and you believe in the bag.

ctf_error_coins

TopographicOceans

Originally posted by: ErrorsOnCoins

El Chupacabra

Shortgapbob

I believe that Stacks had a large quantity of Unc of 1889-CCs decades ago that they very slowly filtered into the market.

jclovescoins

Very interesting

abcde12345

There's a guy on eBay selling old mint bank rolls of CC dollars, so sure, I suppose the bag of 89-CC dollars is also true.

kaz

In his book on Morgans, Bowers writes that "I had a chance to buy a bag, from Ben Stack, but did not. Where they are now, I do not know."

PRECIOUSMENTAL

That is quite believable.

There are a lot of bags stashed away.

291fifth

The story is probably true. Stack's was a market power and had the money to buy and hold such material. Remember that millions and millions of Silver Dollars entered the marketplace in 1962-63 and later during the GSA sales. There are probably still many bags, including better dates, still intact. There were several bags of Seated Liberty Dollars released at that time (1962-3) as well.

DaveG

For those of you who don't happen to have a copy of QDB's Silver Dollar Encyclopedia, here's a link to the page on the 1889-CC where he discusses the bags of coins that were once available, including the bag that Ben Stack offered to him in 1976:


http://www.pcgs.com/books/silver-dollars/Chapter15Listings-113.aspx

Zoins

Originally posted by: DaveG

For those of you who don't happen to have a copy of QDB's Silver Dollar Encyclopedia, here's a link to the page on the 1889-CC where he discusses the bags of coins that were once available, including the bag that Ben Stack offered to him in 1976:



http://www.pcgs.com/books/silv...ter15Listings-113.aspx

Linkified.

TwoSides2aCoin

I couldn't confirm anything I read and only half of what I see.

coindeuce

There has been only one Mint State 1889-CC confirmed out of the GSA Hoard. Ever. The existence of a bag of raw BU 1889-CC Dollars outside of the GSA Hoard, in the wild and prior to the GSA sales is nonsense. If anything, it may have been a partial or even full bag of circulated examples that some one had accumulated over a long period (including a Stacks family member) before QDB says he turned them down in 1976. If you really want to believe that QDB would have turned down an opportunity to market a bag of BU 1889-CC's in 1976, well. . .

If Stack actually had an AU/BU bag, aside from QDB's anecdote, there were plenty of other capable players in that market at the time who Stack could have / would have contacted, including Wayne Miller and John Love. And you've never heard either of them remark about the above. . .

3keepSECRETif2rDEAD

Originally posted by: coindeuce
There has been only one Mint State 1889-CC confirmed out of the GSA Hoard. Ever. The existence of a bag of raw BU 1889-CC Dollars outside of the GSA Hoard, in the wild and prior to the GSA sales is nonsense. If anything, it may have been a partial or even full bag of circulated examples that some one had accumulated over a long period (including a Stacks family member) before QDB says he turned them down in 1976. If you really want to believe that QDB would have turned down an opportunity to market a bag of BU 1889-CC's in 1976, well. . .

QDB seems like a good fellow...never read him for a liar.

keets

interesting perspectives, all of them, and thanks to DaveG for the link.



one thing that comes to mind when assessing this, absent the admission of Stack's either way, is the commentary by QDB which includes references to Walter Breen. though Breen has been denigrated for his exaggerations and sometimes made up facts, he is in line with what Bowers has observed. since we can all agree that the latter is above reproach and not given to fantastical musings, it follows that the two accounts would tend to reveal a fact. my friend's related story dates to around 1986 and the Bowers book comes after that, so I doubt that he is making something up. the singular fact which can be called into question would be what Coinosaurus made mention of, the assertion that it was a "Mint sewn bag" of 1889-CC Dollars.



I suppose we can all believe as we choose but it appears that Stack's did at one time(at least until 1986) have in their possession a 1,000 coin bag of 1889-CC Morgan Silver Dollars. if anyone can further confirm or debunk this fact, please post or PM.

BillJones

I don't know about this case in particular, but I know that some of the old time dealers who have been in business for many years had stashes of eye popping coins that they brought out slowly or sometimes liked to show. Some of them also have stashes of "mistakes" that they are sometimes coaxed into showing now and then. I have seen such material, but it was years ago. I don't go to dealers' shops that frequently nowadays so I don't get see that sort of thing anymore.

ricko

I would tend to believe Mr. Bowers, especially with the above noted anecdotes that

seem to affirm his observation. Cheers, RickO