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Silver dollar hoard slabbed by NGC

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.

Buzz blogger Dave Harper won the Numismatic Literary Guild Award for Best Blog for the third time in 2017 . He is editor of the weekly newspaper "Numismatic News."