1879-CC $1 Morgan Silver Dollar GSA Hoard NGC MS64

When you buy this 1879-CC silver dollar, you will own a relic of America's Wild West. Did Wyatt Earp have a few Morgan dollars in his pocket when he arrived at the O.K. Corral in Tombstone, Arizona Territory? It is quite possible. Did "Pawnee" Bill, "Buffalo Bill" Cody, Chief Sitting Bull, or Billy the Kid pay for a drink, provisions, or an article of clothing in the Rockies during the late 1800s? If they did, then the familiar clang of a silver dollar was heard as it dropped on a wooden bar or shop counter.

The Morgan dollar is the most popular classic coin series that collectors crave. And within that series is a subset that everyday collectors and specialists alike cherish: Carson City Morgan dollars in the black GSA (General Services Administration) cases. It was after the famous 'Treasury Releases' of 1962-64, when millions of silver dollars were sold to the public, that the U.S. Treasury discovered a previously unknown massive hoard of mint bags of Carson City silver dollars--over 2.8 million of them!--hidden away in Treasury vaults. It was decided to sell these coins under the authority of the GSA in seven mail bid sales from 1972 to 1980.

The 1879-CC Morgan dollar, with its mintage of 756,000, is the second rarest (after 1889-CC) of all Carson City silver dollars. That is because perhaps hundreds of thousands of them were melted down under the Pittman Act of 1918. Several thousand 1879-CC dollars were paid out from the Treasury building in Washington, D.C., during the early 1950s. After the Treasury release ended in 1964, the GSA holdings of 1879-CC dollars numbered only 4,123,or 0.55% of its original mintage. These were sold in the GSA mail bids discussed above.

Numismatic author and auctioneer Q. David Bowers writes, "Although thousands of Mint State coins exist, gems (MS-65 or better) are very difficult to find." Thus the example being offered by AUCM (in MS64) is the closest to a gem one can find. There are two basic types of 1879-CC dollar: the "perfect" or Large CC variety and the less attractive and less popular "Large CC over Small CC." The current offering is the popular "perfect" or Large CC variety. Bowers tells us, "Most 1879-CC dollars are quite well struck on obverse and reverse. The 1879-CC is typically encountered with attractive lustre.... Not much searching is needed to find a 'nice' coin, as such pieces are the rule."

Graded MS64 by NGC, the 1879-CC is a popular rarity from the GSA Hoard, and will be yours to enjoy for many years to come. There is an attractive patina of autumn orange on the obverse, with booming luster on the reverse. This example features a classic design, a sharp strike, and bold devices. This piece is greatly discounted from the Coin Dealer Newsletter bid price of $12,500.00. The original box is in great shape. The card is missing and the lid is detached from the base.