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1882-CC $1 MS67 Deep Mirror Prooflike PCGS....
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Description
Single Finest Certified 1882-CC Morgan
MS67 Deep Mirror Prooflike
1882-CC $1 MS67 Deep Mirror Prooflike PCGS. Collectors owe a
debt of gratitude to the General Services Administration sales of
the 1970s (ended in 1980) for the dispersal of millions of Mint
State CC-mint Morgan dollars. When the price of silver began to
rise and silver dollars became worth more than their melt value,
the Treasury ceased payments of silver dollars in March 1964. As
the Bowers-Borckardt Silver Dollar Encyclopedia explains,
although the Carson City Mint had ceased coinage in 1893, it
continued to store many millions of CC Morgans until 1899, when
about 5 million coins were transferred--mostly to Treasury vaults
in Washington, D.C., with some others going to the San Francisco
Mint.All of those CC-mint dollars were promptly forgotten, for decades.
Collector interest in mintmarked coins was spurred, coincidentally, in 1893 by the publication of a small pamphlet by Augustus Heaton called Mint Marks. The book listed "causes of attractiveness" of various mintmarked coins, forever altering the landscape of U.S. numismatics. Collectors became accustomed to collecting coins according to whether they had an S for San Francisco, a D for Dahlonega (and later Denver), a CC, an O for New Orleans, or a C for Charlotte. (Other mint marks--W for West Point, and P for Philadelphia--were many years in the future.)
In the quarter-century from 1910-1935, when the Peace dollar series ended, collector interest had increased in collecting Morgan dollars by mintmark. In the 1940s and 1950s, some dealers obtained quantities of various CC-mintmarked dollars at face value, making a good living reselling the nice ones. (The smallest quantities were those for 1879, 1889, and 1893, presaging the current market conditions of today.) When the Treasury stopped silver dollar payouts in 1964, many thousands of CC Morgan dollars dated from 1880 through 1885, in particular, remained. (The history of the Morgan dollars from four mints over a period of 90 years is a complex one; see Bowers for much more information.)
Of the original mintage of 1,133,000 1882-CC silver dollars, the General Services Administration still held more than 605,000 coins, or about 53.4% of that total. This single coin--of all that vast quantity--has risen to the top as the single finest certified. This is the only MS67 DMPL 1882-CC certified at PCGS, with none finer (6/08).
The surfaces are fully prooflike and deeply reflective, with silver-white coloration and a complete lack of distractions. The strike is bold, save for a hint of softness over the ear, and the devices are fully frosted and stunning in their intensity. A coin for the finest Morgan collection.
From the "A Gift of Undeserved Favor" Collection.(Registry values: P3, N7079)
Coin Index Numbers: (NGC ID# 254B, PCGS# 97135, GSID# 7726)
Metal: 90% Silver, 10% Copper
Weight: 26.73 grams
ASW: 0.85oz
Mintage: 1,133,000
View all of ["A Gift of Undeserved Favor" Collection ]
The Confident Carson City Coin Collector
by Rusty Goe
The Carson City Mint’s celebrated legacy — replete with landmark achievements, setbacks, mysteries and tall tales — is covered in exacting detail in Goe’s three-volume set.
by Rusty Goe
The Carson City Mint’s celebrated legacy — replete with landmark achievements, setbacks, mysteries and tall tales — is covered in exacting detail in Goe’s three-volume set.
Auction Info
2008 July-August Baltimore, MD (ANA) US Coin Signature Auction #1114 (go to Auction Home page)
Auction Dates
Jul-Aug, 2008
30th-3rd
Wednesday-Sunday
Bids + Registered Phone Bidders: 12
Lot Tracking Activity: N/A
Page Views: 2,639
Buyer's Premium per Lot:
15% of the successful bid per lot.
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