Some information on the 1893-CC in a GSA case

This was posted today on the Collectors Universe forum in the "need knowledge on cc morgans" thread:

"In 1980 I had the 1893CC GSA Hard case.

I had it on memo from plaza coin in Riverside,CA. (Doyle Frances)

I took it to the Long beach coin show and after a great deal for effort I sold it for $3600.00

Made a hundred bucks on that coin.

I wish I could remember which dealer I sold it to. The coin was very nice probably a 64 or 65
and I think they cracked it out of the GSA holder because nobody cared about GSA holders back then.

The coin original came in at a Las Vegas show."

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Randy C. Conway
Sun City Coin

GarryN,

Thanks for this post.

If we adjust for 30 years of inflation the $3,600 price this dealer sold the 93-CC GSA dollar for in 1980, we get a value of approximately $12,000 in 2010.

I don't know if this dealer realizes how much this coin would really be worth today if it were still in a GSA holder, and it was the grade he said it was (MS-64 or MS-65). We would be talking about a big payday.

Does anyone on this discussion board care to guess how much a 93-CC GSA dollar would be worth today in its orignial government holder? Go ahead, give it shot.

I'll take a shot at your question of what a '93-CC GSA morgan would be worth in today's recession (near-depression) marketplace, where inflation is in our midst and dumping is occurring.

MS-64 would command $7K to $8.5K
MS-65 would command $30K

The adage "Buy the coin, not the holder" sometimes does not apply to GSA dollars. For example, I found an 1879-CC, MS64 in a GSA case for $14,500 and another in a PCGS holder in MS64 for $8,600. About 4,123 of these were released by the GSA.

At Heritage, PCGS MS64 '93-CC dollars sold for as much as $8,625 in August 2009. Currently, bids on three lots of this coin at Heritage are $4,250, $5,250 and $7,000. I am going to guess that an 1893-CC in a GSA case graded MS64 will retail for $200,000. If it is graded MS65, it will retail at $400,000.

Interesting numbers. Today's coin buying world is much different now than one or five years ago. It definitely is a buyer's market. Personally, I have picked up some amazing near-gem and gem morgans at reduced prices due to unfortunate circumstances of others.

Additionally, in my opinion, coins tend to be overgraded by the major coin grading services, so you see coins ranging to overgraded to undergraded, with the later commanding higher prices and the former unable to be sold. As a Buffalo nick collector, I tend to look at around 10 to 15 before I consider even one.

In my humble opinion, value has always and will always rule the day. Additionally, I am thankful that I am gainfully employed so that I can afford a hobby such as coin collecting.

Hey Garryn!

I am lucky enough to own an 1893-CC Morgan in a Paramount Holder.
Do you know where the coin came from?

Hint.. most Morgans of this date were thought to have a very soft and flat strike, yet this example has an exceptionally bold strike. See below image.

Belay Off