How to turn $500 into $99: 1890-CC circulated GSA

Take a look at this auction on ebay:

cgi.ebay.com/Pedigree-1890-cc-Morgan-Dol...&hash=item3caf79e1d5

Obviously, it's a NGC graded 1890-CC with a GSA pedigreed from the soft pack mylar envelope used to house circulated dollars. The buyer has put a buy-it-now of $99.

However, if this coin were still in it's original GSA soft package, it would be worth at a minimum of $500 (given it's fairly low grade) even in today's moribund market. Circulated CCs in soft packs are a rarity (and subspecialty) and are more highly valued by collectors today then their brethren in non-GSA packaging. Originality commands a premium and unfortunately this coin has lost that cachet when it was broken out of it's GSA packaging.

The lesson: keep those GSA CC Morgans in their ORIGINAL holders.

Disclaimer: this auction isn't mine nor do I have any affiliation with them. I'm merely the messenger.

Mitchell

Does "Carson City Hoard" mean it was part of the GSA sale? Or does it mean something else?

I have never seen it described that way. Also, were any coins in the GSA sale circulated to that extent?

Garryn wrote:

Does "Carson City Hoard" mean it was part of the GSA sale? Or does it mean something else?

I have never seen it described that way. Also, were any coins in the GSA sale circulated to that extent?

Garry,
Not part of the GSA events that I'm aware of. Not a GSA coin. The Carson City Hoard was a private collection.

bob

Bob:

Thanks for that. I guess I mixed up the two hoards!

Mitchell

Thats fine, it's not a hoardible mistake Mitchell... It's not the end of the roll. OK I will stop... :woohoo: