Finding Your Own 1879-CC GSA Morgan: A Cherry Picker’s Guide

The Thrill of the Hunt

You don’t always need a dealer to find this. Here is what to look for when searching through circulation or bulk lots.

There’s something magical about discovering a rare coin in the wild – especially when it’s been hiding in plain sight for decades. The 1879-CC GSA Morgan dollar represents one of those holy grail finds that roll hunters dream about. While most collectors assume these coins only surface through specialized auctions or high-end dealers, the truth is that many have passed through countless hands before finding their way into serious collections.

Understanding the GSA Hoard

The General Services Administration (GSA) hoard represents one of the most significant events in modern numismatics. In the early 1970s, the government began selling off millions of silver dollars that had been sitting in Treasury vaults for decades. Among these were substantial quantities of Carson City Morgans, including the elusive 1879-CC variety.

What makes GSA Morgans particularly interesting is that they were sold in their original government packaging – complete with certificates of authenticity and special holders. However, many of these coins have since been removed from their GSA packaging, making them harder to identify in circulation or bulk lots.

Key Identifiers for Roll Hunters

When searching through rolls or bulk lots, there are several key markers to look for when hunting GSA Morgans:

• Date and Mint Mark: The 1879-CC features the distinctive CC mint mark below the wreath on the reverse. This is your first indicator.
• Strike Quality: GSA Morgans often display exceptional strike quality due to their preservation in sealed bags. Look for sharp details on the eagle’s feathers and Liberty’s hair.
• Luster Characteristics: Many GSA coins retain their original satin-like luster. The surfaces should appear fresh and vibrant, not dulled by decades of handling.
• Surface Preservation: Since these coins were stored in bags, they often show fewer marks than typical circulated Morgans. Bag marks, when present, tend to be uniform in appearance.

The Cherry Picking Strategy

Cherry picking varieties requires patience and knowledge. The original poster’s story about purchasing GSA Morgans from Macy’s for $150 each in the pre-grading era illustrates how market awareness evolves over time. What seemed expensive then is now recognized as an incredible bargain.

When examining potential GSA finds, consider these factors:

• Provenance Clues: Look for any documentation or original packaging. Even partial GSA packaging can add significant value.
• Price Point Analysis: If you find a Carson City Morgan being offered at a price that seems too good to be true, it might be worth a closer examination.
• Market Knowledge: Understanding current market values helps you recognize when you’re seeing a genuine bargain.

Common Hiding Places

Based on collector experiences, GSA Morgans and other valuable coins often surface in unexpected places:

“For years, as a kid, I worked across the street from Macy’s flagship Herald Square store. And upstairs was an old school coin and stamp counter tucked away near the Post Office counter… they would have these in stacks tied with rubber bands under the counter.”

This anecdote reveals several important hunting grounds:

• Antique Shops: Many dealers don’t recognize the significance of GSA packaging or provenance.
• Estate Sales: Collections passed down through generations often contain GSA coins that the heirs don’t recognize as valuable.
• Online Marketplaces: Bulk lots and “junk silver” collections frequently contain GSA Morgans mixed in with common date coins.
• Local Coin Shops: Some dealers still have GSA coins in their original packaging that they’re unaware of.

Authentication Tips

When you believe you’ve found a potential GSA Morgan, here’s how to verify its authenticity:

1. Examine the Mint Mark: The CC mint mark should be clear and properly positioned. Counterfeiters often get this detail wrong.
2. Check the Edge: Authentic Morgan dollars have a reeded edge. Any other edge treatment indicates a counterfeit.
3. Weight Verification: Genuine Morgan dollars weigh 26.73 grams. A digital scale can quickly verify this.
4. Magnification Check: Use a loupe to examine the coin’s details. Authentic coins show proper die characteristics and surface texture.

Value Considerations

The value of GSA Morgans varies significantly based on grade and preservation. The original poster mentions having “PL” (Proof Like) examples in their collection, which command premium prices. When evaluating a potential GSA find:

• Grade Assessment: Even circulated examples can be valuable, but uncirculated specimens command substantial premiums.
• Originality: Coins with original surfaces and minimal cleaning typically bring higher prices.
• Provenance: GSA packaging, certificates, and documentation can add 10-30% to the coin’s value.

Historical Context

Understanding the historical context enhances appreciation for these coins. The 1879-CC was struck at the Carson City Mint during a period of significant silver production in Nevada. Carson City Morgans are particularly sought after due to the mint’s relatively short operational period and the romantic association with the American West.

The GSA sales represented the final chapter for many of these coins. After decades in government storage, they were finally released to collectors, creating one of the most significant events in modern numismatics.

Modern Market Dynamics

Today’s market for GSA Morgans reflects decades of price appreciation. The original poster’s recollection of $150 prices for PL and DMPL examples in the early 1990s seems almost unbelievable now, given current market values that often exceed $1,000 for similar specimens.

This price appreciation underscores the importance of recognizing value when you see it. Many collectors who passed on these coins decades ago now regret their decisions, making the hunt for remaining examples even more compelling.

Conclusion

The 1879-CC GSA Morgan represents more than just a rare coin – it’s a piece of American history that connects collectors to the silver mining era of the American West. Whether you’re a seasoned collector or just beginning your numismatic journey, understanding what to look for can help you identify these treasures when they appear in unexpected places.

Remember the words of the original poster: “I cringe at how many gems I probably handed back to them because $150 wasn’t cheap (for me) back then.” Don’t let that be your story. Armed with knowledge about GSA characteristics, provenance markers, and market values, you might just find your own 1879-CC GSA Morgan waiting in a roll, bulk lot, or estate collection.

The thrill of discovery, combined with the historical significance of these coins, makes the hunt worthwhile. After all, as one collector noted, “It’s always cool when you catch the white whale.” Your white whale might be closer than you think.

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