Product Details

1 1883 GSA Slabbed Carson City Morgan dollar in original box In 1970, Congress authorized the General Services Administration to sell the hoard of silver dollars to the public. Officials devised a mail bid system, with minimum prices for each dollar established, and limits placed on the quantity any bidder could buy. The proceeds from the sales, in excess of expenses, would go into the national treasury. PLANS FORGED FOR SALE The sorting process began. A team of GSA workers organized the nearly 2.9 million Carson City Morgan silver dollars and less than 30,000 silver dollars (some of the “Peace” variety) from other mints into categories in accordance with the coins’ perceived condition ratings. With guidance from a committee of numismatic experts, the GSA staff relegated the coins they deemed better quality to the “Uncirculated” category. More than 2 million Carson City silver dollars received this distinction.