Numismatic Guaranty Corporation® (NGC®) has announced that its comprehensive guarantee of grade and authenticity has been expanded to cover GSA Hoard Morgan Dollars that have been graded by NGC in their original black GSA holders. This update will be applied retroactively to include all NGC-certified GSA Morgan Dollars and will supersede the language on the back of the NGC GSA certification label.
The General Services Administration (GSA) was the government agency tasked with marketing the several million silver dollars that remained in United States Treasury vaults after the US stopped redeeming silver certificates for silver dollars in 1964. These coins were encapsulated in hard plastic holders with black inserts and sold to the public from 1972 to 1980.
Since January 1, 2003, NGC has graded silver dollars in the original GSA holders by affixing a tamper-evident label that wraps around the rigid case. This special label bears the coin description and NGC grade while still preserving the historic significance of the GSA holder. To date, NGC has graded nearly 100,000 Morgan Dollars in GSA holders.
“NGC already has the industry’s strongest grading guarantee and this enhancement will further solidify that position,” says Mark Salzberg, chairman of NGC. “There have been reports of counterfeit GSA holders in the marketplace and NGC wanted to be proactive by providing additional protection to consumers.”
NGC-certified GSA Morgan Dollars will be covered by the standard NGC Coin Grading Guarantee, posted on www.NGCcoin.com under the “Coin Grading” menu.
About Numismatic Guaranty Corporation® (NGC®)
NGC, the world’s largest and most respected third-party coin grading service, was founded in 1987. From the beginning, NGC has committed itself to developing an impartial, trusted standard of consistent and accurate grading. To uphold this commitment, NGC’s full-time grading professionals are no longer active in the commercial coin marketplace, and are prohibited from buying or selling coins to ensure impartiality. As NGC has grown to become the leader in third-party grading services, we have maintained a steadfast and uncompromising commitment to this standard.
© 2013 Numismatic Guaranty Corporation of America. All rights reserved.
NGC, NCS, PMG, CCG, CGC and CCS are the registered trademarks or unregistered trademarks of Numismatic Guaranty Corporation of America, and/or its related companies in the United States and/or other countries. All other names and marks referenced in this release are the trade names, trademarks, or service marks of their respective owners.
I am confused. What was the guarantee on these coins prior to this? Did they just grade them with no guarantee?
thanks for that clarification. end sarcasm