By CoinWeek …..
Near the beginning of last month, CoinWeek traveled to NGC headquarters in Sarasota, Florida, to get a first look at the Great Southern Treasury Hoard of 13,000 New Orleans Mint Morgan dollars.
Coin dealer Jeff Garrett was instrumental in bringing this numismatic bonanza to the market, negotiating a deal with a family of hard money advocates to trade 13 U.S. Mint-sealed bags of Morgan dollars for approximately $1 million in gold bullion.
The family purchased the coins in the mid-1960s for an estimated cost of $1.30 per coin. That investment returned an estimated $76.92 per coin in 2019.
For coin collectors, the opportunity to acquire an original New Orleans Mint Morgan dollar straight from a U.S. Mint bag is one seldom encountered as it has been decades since the Treasury’s hoard of silver dollars has been distributed into the market.
In this video, we talk to Jeff and NGC President Rick Montgomery about the hoard and what insights that hoards like this offer collectors.
Watch the grading process unfold and get a first look at the NGC pop report for each of the dates in this find.