Sold $82,250
Lot Description
1883-CC Morgan Silver Dollar. MS-68 (PCGS). CAC.
Jeff Ambio: Only 12 Carson City Mint Morgan silver dollars of all dates have been certified as MS-68 by PCGS, three of which are examples of the 1883-CC issue. Remarkable for both its virtual perfection and captivating eye appeal, this coin really needs to be seen to be fully appreciated. Both sides are brilliant with intense mint luster and a richly frosted texture. Even the most intricate design elements are sharply struck, including Liberty's hair curls and the eagle's breast feathers in the centers. Free of even a single distracting abrasion, with the smoothest, most perfect cheek on Liberty's portrait that this cataloger can ever recall seeing in a Carson City Mint Morgan dollar. A definite highlight of the Morgan dollar offerings in the Battle Born Collection.
Rusty Goe: After Superintendent James Crawford presented the Carson Mint's coinage production totals for January 1883 to the local press, local residents soon read that the 100,000-piece silver dollar output approximated the monthly average of 1882. At the same time, the price of silver continued its decline from the high-water levels seen in the 1870s. Proponents of the gold standard said they could "see no limit to the fall of silver." Statements such as this rankled citizens in northwestern Nevada, who for over 20 years had depended heavily on the mining industry.
In this new era of the early 1880s, the Comstock Lode's "Big Bonanza" mines were no longer the only sources for precious metals. Miners prospected new locations in other parts of Nevada and in sections in eastern California near the Nevada border. A new railroad, the Carson and Colorado linked these remote areas to Carson City. Shipments of silver and gold bullion continued to arrive at the Carson Mint from all directions.
The Carson City Mint maintained the 100,000-piece monthly average of silver dollar output all through 1883. In December that year, the coining department broke its 11-month consecutive streak of 100,000 pieces per month, when it delivered 104,000 shiny new silver dollars. The annual total of 1,204,000 set the high mark for the three-year run from 1882 through 1884. Examples from those three years represent over 82 percent of the survivors distributed in the great GSA Hoard.
Although hundreds of thousands of 1883-CC Morgan silver dollars exist today, with the exception of perhaps two others, none rival the quality of the example offered here in the Battle Born collection. It ranks No. 1, or ties for that position, in terms of grade and eye appeal out of all those struck in the year of issue.
Q. David Bowers: From a mintage of 1,204,000 for the 1883-CC dollar, Rusty Goe estimates that there are 800,000 to 900,000 survivors and that 795,000 to 860,000 are Mint State.
Repeating a familiar scenario, for much of the 20th century a vast reserve of 1883-CC dollars was stored in the Treasury Building in Washington, D.C. From this source, examples trickled out over a period of years, with a significant release occurring in 1938-1939. Many bags were given out at face value in the 1950s, when dealers such as Charles J. Dochkus sought to buy them, but demand was such that the market could only absorb limited quantities. At the time, the wholesale price for a $1,000 face value bag was apt to be about $1,200 -- not a source of windfall profits. Dealer Steve Ruddel stated that about 50 bags (50,000 coins) were released from the Treasury Building in 1955, and that at least that many were released of all other CC Mint Morgan dollars except 1879-CC, 1889-CC, and 1893-CC. By the late 1950s, the Treasury stopped paying them out. When a count was taken after March 1964 a quantity amounting to 755,518 coins, or over 62 percent of the original mintage, was held back. These were subsequently marketed through the General Services Administration from 1972 to 1980. Of this quantity, 221,665 were offered at a discount because of tarnish and surface scratches; most of these would probably be graded MS-60 to 62 today, as would numerous pieces from the larger quantity.
* As of July 2012
† Includes PL and DMPL designations.
† Includes PL and DPL designations, and GSA soft- and hardpack examples.
PCGS# 7144.
Provenance: From the Battle Born Collection. Earlier ex: Heritage's FUN Signature Auction of January 2006, lot 3289; and Heritage's sale of the PCGS #3 Mile High Registry Set of Carson City Morgan Dollars, September 2007, lot 2303; Rusty Goe, September 2007. One of the plate coins for the issue on the PCGS Coin Facts website.
PCGS Population: only 3; and none are finer.
Jeff Ambio: Only 12 Carson City Mint Morgan silver dollars of all dates have been certified as MS-68 by PCGS, three of which are examples of the 1883-CC issue. Remarkable for both its virtual perfection and captivating eye appeal, this coin really needs to be seen to be fully appreciated. Both sides are brilliant with intense mint luster and a richly frosted texture. Even the most intricate design elements are sharply struck, including Liberty's hair curls and the eagle's breast feathers in the centers. Free of even a single distracting abrasion, with the smoothest, most perfect cheek on Liberty's portrait that this cataloger can ever recall seeing in a Carson City Mint Morgan dollar. A definite highlight of the Morgan dollar offerings in the Battle Born Collection.
Rusty Goe: After Superintendent James Crawford presented the Carson Mint's coinage production totals for January 1883 to the local press, local residents soon read that the 100,000-piece silver dollar output approximated the monthly average of 1882. At the same time, the price of silver continued its decline from the high-water levels seen in the 1870s. Proponents of the gold standard said they could "see no limit to the fall of silver." Statements such as this rankled citizens in northwestern Nevada, who for over 20 years had depended heavily on the mining industry.
In this new era of the early 1880s, the Comstock Lode's "Big Bonanza" mines were no longer the only sources for precious metals. Miners prospected new locations in other parts of Nevada and in sections in eastern California near the Nevada border. A new railroad, the Carson and Colorado linked these remote areas to Carson City. Shipments of silver and gold bullion continued to arrive at the Carson Mint from all directions.
The Carson City Mint maintained the 100,000-piece monthly average of silver dollar output all through 1883. In December that year, the coining department broke its 11-month consecutive streak of 100,000 pieces per month, when it delivered 104,000 shiny new silver dollars. The annual total of 1,204,000 set the high mark for the three-year run from 1882 through 1884. Examples from those three years represent over 82 percent of the survivors distributed in the great GSA Hoard.
Although hundreds of thousands of 1883-CC Morgan silver dollars exist today, with the exception of perhaps two others, none rival the quality of the example offered here in the Battle Born collection. It ranks No. 1, or ties for that position, in terms of grade and eye appeal out of all those struck in the year of issue.
Q. David Bowers: From a mintage of 1,204,000 for the 1883-CC dollar, Rusty Goe estimates that there are 800,000 to 900,000 survivors and that 795,000 to 860,000 are Mint State.
Repeating a familiar scenario, for much of the 20th century a vast reserve of 1883-CC dollars was stored in the Treasury Building in Washington, D.C. From this source, examples trickled out over a period of years, with a significant release occurring in 1938-1939. Many bags were given out at face value in the 1950s, when dealers such as Charles J. Dochkus sought to buy them, but demand was such that the market could only absorb limited quantities. At the time, the wholesale price for a $1,000 face value bag was apt to be about $1,200 -- not a source of windfall profits. Dealer Steve Ruddel stated that about 50 bags (50,000 coins) were released from the Treasury Building in 1955, and that at least that many were released of all other CC Mint Morgan dollars except 1879-CC, 1889-CC, and 1893-CC. By the late 1950s, the Treasury stopped paying them out. When a count was taken after March 1964 a quantity amounting to 755,518 coins, or over 62 percent of the original mintage, was held back. These were subsequently marketed through the General Services Administration from 1972 to 1980. Of this quantity, 221,665 were offered at a discount because of tarnish and surface scratches; most of these would probably be graded MS-60 to 62 today, as would numerous pieces from the larger quantity.
| Statistical Snapshot* | Service | Grade | Population in Battle Born Grade | Population in Higher Grade | Population in All Grades | Survival Estimate | Mintage |
| PCGS | MS-68 | 3 | 0 | 41,376† | -- | -- | |
| NGC | -- | 0 | 0 | 38,770† | -- | -- | |
| -- | -- | -- | -- | 80,146 | 800,000-900,000 | 1,204,000 |
† Includes PL and DMPL designations.
† Includes PL and DPL designations, and GSA soft- and hardpack examples.
PCGS# 7144.
Provenance: From the Battle Born Collection. Earlier ex: Heritage's FUN Signature Auction of January 2006, lot 3289; and Heritage's sale of the PCGS #3 Mile High Registry Set of Carson City Morgan Dollars, September 2007, lot 2303; Rusty Goe, September 2007. One of the plate coins for the issue on the PCGS Coin Facts website.
PCGS Population: only 3; and none are finer.
Live Auction
August 2012 Philadelphia ANA
Live Bidding began Aug 7, 2012 @ 9:00 PM EDT
