1879-CC GSA Morgan Dollar NGC MS61PL
1879-CC GSA Morgan Silver Dollar NGC MS61PL
- Mintage: 756,000
- NGC Population: 5 in the grade with 32 finer known
- PCGS Population: 0 in the grade with only 1 finer known
- Finest Known: MS64PL (2)
- In 1859, America’s earliest and at the time richest silver bonanza was discovered and would remain the dominating event in Nevada history for the next twenty years, the Comstock Lode.
- This discovery led to the creation of the Carson City Branch Mint in 1863 and by 1870 the minting of silver and gold coins would commence until operations ceased indefinitely in 1893.
- No other branch mint is comparable to the Carson City Mint when it comes to the total number of Morgan Dollars produced by the Wild West Mint.
- Despite the massive silver deposits, Morgan Dollar production at the Carson City Mint was historically low.
- San Francisco, New Orleans and Philadelphia all minted well over 100 million Morgan Dollars, while the Carson City Mint struck fewer than 14 million.
- Even the Denver Mint, which coined Morgan Dollars for one year in 1921, struck over 20 million that year!
- Today Morgan Dollars from the Carson City Mint are a collector favorite and highly sought after, no matter the date or grade.
- However, had it not been for a famous hoard released from 1973 to 1980, many collectors may not have had the opportunity to acquire a piece from the American frontier.
- This hoard, known as the General Service Administration (GSA) Hoard, was the result of a great rush on Morgan Silver Dollars that took place during the 1960s.
- Silver certificates could be redeemed in silver dollars and knowledgeable collectors, investors and dealers discovered that some of the bags that remained undisturbed in Treasury and Federal Reserve vaults for decades contained rare and valuable dates.
- In March 1964, the Treasury put a stop to the massive movement on Morgan Silver Dollars and eliminated the redemption of silver certificates in silver dollars, offering bars or granules in their place.
- By June of 1968, the redemption of silver certificates in silver ceased altogether and the Treasury inventoried the remaining stock of silver dollars, finding approximately 3,000 bags containing three million coins.
- These coins were then turned over to the General Services Administration (GSA) for sorting, marketing, and disposal to the American people at a profit to the government, with sales taking place between 1973 to 1980.
- Most of the Carson City Morgan Dollars that were distributed as part of the GSA Hoard were those struck from 1882 to 1884.
- Dates like the 1889, 1892 & 1893 are essentially unattainable as they are unique, meaning only a single example from the hoard exists.
- Whereas dates such as the 1891, 1890, and 1879 are extreme rarities from the GSA Hoard when compared to all other Carson City Morgan Dollars.
- In general, the 1879-CC is a difficult date to acquire in the Morgan Dollar series but examples from the GSA Hoard escape the grasp of most silver dollar collectors.
- Just over 4,000 coins were part of this incredible hoard, positioning it as the date with the 2nd fewest total number of coins across all GSA issues, not including the unique unattainable dates.
- Among the entire group of 1879-CC Morgan Dollars from the GSA Hoard only 38 coins exhibit strong enough contrast between the frosty devices and deeply mirrored fields to warrant a Prooflike designation.
- Prooflike coins are the result of a particularly nice, brilliant planchet being struck by new or recently polished dies.
- The difference between Prooflike and Deep Mirror Prooflike comes down to the reflectiveness of both the obverse and reverse, in which Deep Mirror Prooflike examples are noticeably more reflective.
- Generally accepted standards for distinguishing between the two comes down the distance at which detailed reflection can be seen without distortion.
- For Prooflike reflection must be seen between two to four inches away from the coin and for Deep Mirror Prooflike designation the recognized distance from the coin without distortion is six to eight inches.
- Only about 2.5% of all Morgan Dollars certified by NGC and PCGS combined are in Prooflike condition!
- As for the 1879-CC, zero GSA examples have been designated in Deep Mirror Prooflike condition, making the present coin one of the most attractive eye appealing specimens one could own for this elusive issue.
