When were 1878 CC Morgans this cheap?
Jinx86
Posts: 3,710 ✭✭✭✭✭
Part of a large collection that came in. Many coins in old 2X2's, few had prices on them. One of the other highlights is a 1807 Draped Bust Half, in Fine, perfect example of original. Nothing super expensive just great collectors coins.
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Well, somewhere around 1966 I bought a G-VG one for $2 just because I had never owned a CC coin. Carried it as a pocket piece fora while.
Based on this website, late 50’s or early 60’s
us-coin-values-advisor.com/morgan-silver-dollar-values.html#1878-CC
It has a spot in front of the nose I’ll give you $8.00 for it.
I can remember when the 1878-CC was cheaper than most of the Carson City Dollars, but today it draws a premium. I can't remember when it was this cheap, but I'm sure it was in the mid 1970s when I had no interest in Morgan Dollars.
They wee cheaper in 1878.
In agreement with Bill Jones’ following quoted post, as a long time Morgan Dollar collector since the 1970’s, I remember when the 1878-CC was the least expensive of the Carson City Morgan Dollars before the release of the Great GSA Treasury Hoard Coins.
The release of over 2 Million 1882-CC, 1883-CC & 1884-CC Morgans (see below👇chart) caused their market values to decline below that of the 1878-CC, and they have remained there since then.
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"
@Stuart
Great Chart of the release #'s. Im gonna save a copy of that!
I remember buying an 1878- CC in UNC. for $4.25 in the mid-1960's. I should have kept that one.
Ah the prices of yesteryear....always interesting to see these.... Cheers, RickO
"Old" prices only seem cheap when we think in today's income and money values. If we had to convert back to income and costs 50 years ago, it would not seem so cheap at $8.75.
I was at the West Point Depository (now the WP Mint)
in the room with all of those coins, back in 1973
True, although if I use the BLS CPI calculator, $8.75 in August 1968 has the buying power of $63.04 today. So using that comparison, the coin was a good buy at $8.75 (assuming it's a 1968 price).
That the coin is essentially white after being in a lowly 2x2 for this long speaks to the effectiveness of these simple storage methods.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
https://data.bls.gov/cgi-bin/cpicalc.pl
I'd buy it for that.
Collector, occasional seller
According to the 1968 Red Book, which would have been published in 1967, the 1878-CC Dollar was worth $9.00 in Unc.
Fred,
Please provide us with more of your Eye Witness Observations, Recollections and Thoughts about your 1973 experience per your following quoted post.
It sounds like a fascinating & historic experience!!
) Thanks!
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"
I've posted my visit many times here, I believe,
and there is a soft cover Booklet (orange) that
was published by Arnold Margolis (who got me
the invitation from the GSA) and the two of
us drove there from Oceanside NY to view
the CC dollars, especially the Errors that they had.
The Booklet is titled "Mint Errors on the Carson City Silver Dollars"
..."offered for sale in auctions conducted by the GSA of the US Govt'
....an numerous contemporary stories in Coin World too.
Interesting, thanks for sharing !!!