LOT Old Heritage Auctions  /  2008 Jan. FUN Signature Coin Auction #454  / 

2974

1879-CC $1 MS65 NGC

Currency:USD Category:Coins & Paper Money Start Price:43,750.00 USD Estimated At:1.00 - 1,000,000.00 USD
1879-CC $1 MS65 NGC
<B>1879-CC $1 MS65 NGC.</B></I> Ex: GSA Hoard. The Carson City Mint coined Morgan silver dollars from 1878 through 1893, with the exception of 1886, 1887, and 1888. Of the 13 coin series, just two dates are major rarities in Mint State grades: 1879-CC and 1889-CC. Some other issues are rare and desirable, but no others are equal to the two rarities.<BR> Most CC-Mint dollars never released, but rather stored in Mint or Treasury Vaults for many years to come. Finally, in the 1970s, the government realized that they could actually sell these coins to collectors and others, they received a windfall. The most common dates were 1878-CC and 1880-CC through 1885-CC. The remaining dates were represented by much smaller quantities, creating a windfall for those few collectors who received dates in the 1890's, or the 1879-CC.<BR> This example is fully brilliant with amazing silver luster and frosty mint surfaces. The strike is full and complete, and the surfaces are free of all but the tiniest abrasions. It looks more like a coin that was acquired directly from the Mint in 1879 and preserved by a knowledgeable numismatist, rather than tossed around with all the others in a canvas sack containing 1,000 such coins.<BR> It is amazing that any Morgan dollars distributed by the GSA could survive so fine when the "life" of these dollars is considered. After they were struck in 1879, they were placed in canvas bags containing 1,000 coins, and stored in vaults at the Carson City Mint. Every year, the bags were handled as annual inventories were completed. Then they had to be transported across country to the Treasury in Washington, D.C. Such transportation was probably by rail, and there is little doubt that the coins inside the bags were jostled about during the trip. After they arrived in Washington, the bags were again handled as they were moved into storage in Treasury vaults, and finally, they received further handling each year during Treasury audits. It surprises us that any could exist in better than MS60 grade. Census: 3 in 65 GSA, 0 finer (12/07).<BR><BR><B>Coin Engraver:</B> George T. Morgan<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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