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NGC slabs silver dollar hoard

One of the newly slabbed silver dollars from the New York Bank Hoard is shown in its slab.

A hoard of 16,000 pristine Morgan silver dollars stored in a New York City bank vault since 1964 have been graded by the Numismatic Guaranty Corporation.

That fact alone is amazing.

But even more compelling is the fact collectors will soon have an opportunity to buy these silver dollars from major retailers.

“Every collector dreams about having the opportunity to examine unsearched and fully original bags of vintage coins,” said Mark Salzberg, NGC chairman and Grading Finalizer.

“This was an incredible thrill for me,” he added.

The hoard dates back to the U.S. Treasury release 54 years ago.

Sixteen bags of the coins went from the Treasury to a New York bank in 1964.

The unnamed heir to the coins called in Jeff Garrett, president of Mid-American Rare Coin Galleries and former president of the American Numismatic Association.

Garrett, his son Ben, and Salzburg made up a trio of experts to evaluate the hoard.

What they found were 16 1,000-coin solid-date canvas bags of uncirculated coins.

There was one bag of 1878-S dollars, two bags of 1880-S, one 1881-S, one 1883-O, one 1884-O, one 1885, two 1885-O, one 1886, four bags 1887, one bag 1888 and one bag 1889.

As might be expected, NGC found a number of amazing individual coins.

The firm reports:

• 28 1880-S Morgan dollars graded NGC MS-67

• Four 1885 Morgan dollars graded NGC MS-67

• Four 1885-O Morgan dollars graded NGC MS-67

• 82 1887 Morgan dollars graded NGC MS-67

• One 1884-O Morgan dollar graded NGC MS-66+ Star.

NGC said the New York Bank Hoard coins were encapsulated with a special NGC certification label.

The coins in this hoard will be listed separately in the online NGC Census, which identifies the NGC-certified population for each issue and grade.

If this information makes you an eager potential buyer, you shouldn’t have long to wait.

“Now that the hoard has been certified and pedigreed by NGC – and protected by NGC’s secure holder – the coins can be enjoyed by countless other collectors,” Jeff Garrett promised.

Get your checkbooks ready.

 

This article was originally printed in Numismatic News. >> Subscribe today.

 


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2 Responses to NGC slabs silver dollar hoard

  1. numismel says:

    “Pristine” is the wrong word for the condition of these coins. According to the online dictionary, “pristine” means “immaculate, perfect, in mint condition, as new, unspoiled, spotless, flawless, impeccable”–in other words only MS-70 coins are pristine.

  2. coinman1 says:

    In today’s world, bringing to the light, 16 Bags of “common date” silver dollars maybe worthy of some news coverage. But it was not so long ago that many such bags of 1884-O, 1885, 1885-O, 1880-S, 1881-S etc. dollars frequently traded hands between us dealers without much hoopla. Those dates were considered common back then and are even more so today. A special label from the slabbing houses for specimens from this so-called “hoard” is just another marketing tool to inflate their apparent worth. If you must succumb to the hype, buy one of the MS66-67 ones from this release. Those dates have always been among the best sources for a Morgan Dollar “Type” coin of Gem quality at a relatively low cost.

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