1883-CC $1 MS (PCGS# 7144)

2013 August 8 - 10 US Coins Signature Auction - Rosemont #1188

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    Heritage Auctions
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Lot Description
1883-CC $1 MS68 PCGS. Late in 1962, the coin collecting hobby was turned upside down when the U.S. Treasury began releasing silver dollars through banks and directly to collectors and dealers. The distribution halted in 1964. Few Carson City dollars were among those pieces distributed in the 1960s. A decade later, the government's General Services Administration again put the coin collecting hobby in a frenzy with the sales of Carson City dollars. This new distribution wave was no longer at face value, but invited bids for the coins from dealers, collectors, and the public. The most common pieces, 1882-CC, 1883-CC, and 1884-CC had a minimum bid of $30 each. The Carson City Mint produced 1.2 million Morgan dollars in 1883, and most of those coins remained in storage for several decades until they were released through the GSA sales of CC Morgans in the 1970s. The series of sales offered more than 2.8 millions CC Morgan dollars, including more than 750,000 1883-CC examples. Those coins were transported and stored loose in bags of 1,000 coins each, so few were preserved in higher grades. PCGS has certified more than 44,000 submissions of the 1883-CC since they began operations in 1986. Of all those coins they have examined, only five pieces have been graded MS68, and none in finer grades (7/13). NGC has also certified a little over 44,000 submissions, and none of those have been graded finer than MS67. The average certified grade of those 88,000 1883-CC Morgan is about MS63. This amazing Superb Gem, tied for the finest certified examples with only four other coins, has frosty and fully brilliant silver luster with slight design weakness over Liberty's ear. The surfaces are pristine and no toning appears on either side. Delicate die cracks appear in the peripheral areas. Here is an incredible example for the connoisseur who can't live with a lower grade specimen.
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