Carson City Silver Dollars are some of the most popular coins to collect. Collectors love the look of silver and the Carson City Dollars were only minted for a little over a decade. In the 1960′s the government decided to stop the exchange of silver certificates for silver dollars in 1964, yet the government still had thousands of bags of silver dollars of which more than three million of the coins were from the Carson City Mint. What was the government going to do to get rid of them?
The government looked to the Government Services Administration (GSA) to disperse this hoard of silver dollars. The plan they in acted resulted in the hoard being called the GSA Hoard where they packaged the silver dollars in plastic cases and created a mail bidding process where collectors would write in how many dollars they wanted and how much they were willing to pay. The coins ended up with the highest bidders.
The program started selling the coins on Oct. 31, 1972, which coincided with Nevada’s birthday. The program ended up needing multiple sales, seven in total, before they could sell off all of the silver dollars in the GSA Hoard.
The Newark Coin Exchange is always looking to buy GSA Dollars and Carson City dollars, if you have some for sale, bring them in and let us take a look.
Thanks for listening.