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    GSA Silver Dollars

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    1882-CC Morgan Silver Dollar Coin (GSA, Box + CoA)

    Morgan Silver Dollars from the United States Mint are quite popular with collectors in the 21st century. The last US silver dollar to enjoy massive production volume and long-term use, the Morgan Dollar was created by US Mint Assistant Engraver George T. Morgan. In the 1960s, it was discovered that the US Treasury had within its vaults millions of uncirculated Morgan Dolla... Read More

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    1883-CC Morgan Silver Dollar Coin (GSA, Box + CoA)

    The debut of the Morgan Silver Dollar in 1878 marked the return of US silver dollars. With the passage of the Coinage Act of 1873, the United States ended the free coining of silver and found itself on the gold standard by default. With silver dollar coining halted as a result, the Seated Liberty design series ended. When silver coining resumed in the $1 series, the US Min... Read More

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    1884-CC Morgan Silver Dollar Coin (GSA, Box + CoA)

    The 1884 date mark from the Carson City Mint in the Morgan Silver Dollar Series was once regarded as one of the rarer specimens in the series. As collectors sought out the coins in the 20th century, the original mintage of 1,136,000 coins proved hard to come by. That all changed when the US Treasury found massive supplies of Morgan Silver Dollars just sitting in its vaults... Read More

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    Morgan Silver Dollar 3-Coin Set (1882-1884-CC, GSA, Box + CoA)

    The Morgan Silver Dollar is today one of the most popular historic US silver dollar designs. Though many Americans of the late-19th and early-20th centuries found the design underwhelming, modern collectors enjoy the history behind the coin. One of the more unique collections of Morgan Silver Dollars actually came from US Treasury vaults in the 1960s, with the coins collec... Read More

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    1882-CC Morgan Silver Dollar Coin (GSA)

    One year after striking just 296,000 Morgan Dollars in 1881, the Carson City Mint issued nearly1 million additional coins in 1882 for a total of 1.133 million. Many of the Carson City Mint-issued Morgan Silver Dollars from the 19th century ended up going directly from the mint to US Treasury vaults, never making it to circulation. In the 1960s, the Treasury discovered a vast hoard of uncirculated Carson City Morgan Dollars, including more than ha... Read More

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    1883-CC Morgan Silver Dollar Coin (GSA)

    Throughout the early 1880s, the United States Mint was striking somewhere between 25 million and 30 million Morgan Silver Dollars per year for use in circulation. The Philadelphia Mint and San Francisco Mint initially led the charge in striking Morgan Dollars, but by the mid-to-late 1880s, the New Orleans Mint had overtaken the San Francisco Mint as one of the top producers of the coins. Today, 1883-CC Morgan Silver Dollars from the GSA are avail... Read More

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    1884-CC Morgan Silver Dollar Coin (GSA)

    1884 saw mintage figures across the four mints striking Morgan Silver Dollars take some big swings. The Philadelphia Mint produced nearly 2 million additional coins over its 1883 mintage level and nearly set a new record high for single-year production, while the New Orleans Mint set a new record for its coining of Morgan Dollars by striking a total of 9.73 million coins. Meanwhile, the San Francisco Mint saw a drastic fall in its production of t... Read More

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    GSA Morgan Silver Dollars from JM Bullion

    The Morgan Silver Dollar has long been recognized as one of the most coveted collectible silver dollars from American history. The Morgan Dollars were issued for the second-longest stretch of time, covering 27 years across the late-19th and early-20th centuries, including a final release in 1921. A little more than 40 years after the US Mint ceased production of the coins, a massive hoard of Morgan Silver Dollars was discovered in the vaults of the United States Treasury. Learn more about the GSA Morgan Silver Dollars available to you from JM Bullion.

    What is a GSA Morgan Silver Dollar?

    The term “GSA” stands for the Government Services Administration. When the hoard of Morgan Silver Dollars was discovered in the vaults of the US Treasury in the 1960s, the payout of silver dollars in exchange for US Silver Certificates was halted as the GSA conducted an audit of the Morgan Dollars that were discovered in the vaults.

    Why were the coins hoarded?

    Morgan Silver Dollars were introduced in 1878 by the United States Mint after a five-year hiatus in the coining of silver dollars in the United States. When the Bland-Allison Act was passed by Congress in 1878, silver dollar coining resumed. At the same time, the United States began issuing Silver Certificates as a form of paper currency. Silver Certificates were issued a face value in US dollars and were redeemable for that face value in silver dollars.

    As such, the United States Mint transferred certain amounts of newly minted silver dollars to the vaults of the US Treasury to ensure silver dollars were on hand to payout when Silver Certificates were redeemed by Americans. The hoard of GSA Morgan Silver Dollars was discovered in the 1960s as the US Mint stopped producing silver coins for circulation and the Treasury experienced increased demand for silver dollars as Americans cashed in Silver Certificates in the face of rising silver prices.

    History of the GSA Hoard

    The coins of the GSA Morgan Silver Dollar hoard were audited by the Government Services Administration in the 1960s to determine how many coins were in the hoard, what date marks were present on the coins, and which mints had initially issued them. It was discovered during this audit that nearly $3 million in Morgan Silver Dollars were sitting in uncirculated condition in the vaults of the US Treasury. The GSA dispersed the coins to American coin collectors through public auctions that were first held in the 1970s and continued through the early 1980s.

    Available Coins

    After the audit of the Morgan Silver Dollar hoard, the GSA found that the coins produced by the Carson City Mint in the 19th century represented the vast majority of the hoard. In fact, it has been estimated that 95% of the Morgan Silver Dollar hoard consisted of uncirculated coins first struck at the Carson City Mint as early as 1878. The GSA audit found the following dates and figures for Carson City Mint Morgan Silver Dollars:

    • 1878 – 61,000 coins
    • 1879 – 4,100 coins
    • 1880 – 131,500 coins
    • 1881 – 147,500 coins
    • 1882 – 605,000 coins
    • 1883 – 755,000 coins
    • 1884 – 962,000 coins
    • 1885 – 148,300 coins
    • 1890 – 3,950 coins
    • 1891 – 5,700 coins

    Packaging

    As the GSA sought to auction off the Morgan Silver Dollar hoard of coins, each coin was individually packaged for collectors. The coins were packaged first inside of hard plastic GSA holders that came with the name of the mint and the type of coin, often as “Uncirculated Silver Dollar.” The coins were then packaged inside of a presentation box and offered with a Certificate of Authenticity.

    Today, it is more common to find the GSA Morgan Silver Dollar coins with only the original hard plastic holder. Many early buyers found the hard plastic holder and box clunky to own. Additionally, some collectors removed the coins to get the specimens certified. As such, finding coins with the original box and Certificate of Authenticity is harder.

    You should keep in mind that the coins of the GSA Morgan Silver Dollar hoard were packaged by the GSA more than 50 years ago now. Even though the coins remain in uncirculated condition, the packaging may show signs of its age, as well as wear and tear from handling.

    Collect GSA Morgan Dollars from JM Bullion

    If you have any questions about GSA Morgan Silver Dollars, please don’t hesitate to ask. JM Bullion customer service is available at 800-276-6508, online using our live chat, and via our email address.