The GSA Carson City Dollar Collection Own Silver Dollars from the Great US Treasury Hoard!
Silver Dollars were produced in great numbers during the 19th and early 20th centuries. Because Silver Dollars were never very popular with the general public, thousands of mint-sealed bags of dollars flowed back into the Treasury from the many National Banks.
During the period from 1883 through 1964 the Treasury melted more than 333 million silver dollar coins. But once production ended in 1935, the US Treasury also began storing silver dollars in its vaults around the US in $1,000 bags. Many of these bags were eventually purchased at face value. During the 1960s the silver content of US coins became an important factor among collectors and investors alike. As the price of silver increased to the point where the silver melt value was greater than the face value of the coins in circulation, a frantic effort to acquire silver coins began and soon became known as the “Great Silver Dollar Rush.”
After major newspapers reported stories about how the supply of dollars was being diminished by investors, the passion for silver among the general public reached a fevered pitch. Soon there were long lines of people outside the Treasury offices, anxious to obtain silver at a below market price. Now Treasury supplies were close to being depleted. By 1964 the Treasury finally initiated an audit of its silver dollar holdings and in March of that year they halted all sales of silver dollars to the public. Among the items they found hidden within their vaults were almost 3-million of the rare Carson City Morgan Silver Dollars. With mintages of 1/10th or less than most other issues, the 13 dates from Carson City have always been the most challenging and sought after Silver Dollars among collectors.
Then, in 1970, President Nixon signed a bill authorizing the General Services Administration (GSA) to sell all remaining Carson City dollars to the public. The coins were sorted by condition according to the grading standards of the day, with the bright, better looking specimens graded as Uncirculated, packaged in special GSA holders and sold at a premium. All other coins with signs of tarnish or circulation were described as Mixed CC, placed in plain holders without listing the condition and sold at a discount.
At Eastern Numismatics, we have been trading in Carson City Dollars since their release to the public in 1973 and over the years we have handled tens of thousands of GSA coins. We have selected only the choicest examples for this offering and have had them certified under the highest modern standards of grading by NGC. All of these coins are Mint State 63 quality. Moreover, they are all attributed to the famous GSA Hoard, and remain in their original plastic government holders, banded with the NGC holographic seal. Over time, demand for these exceptional and legendary coins will only continue to grow and this offering will certainly rank as one of the finest opportunities to acquire choice Carson City Morgan Silver Dollars from the famous US Government Hoard.
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