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.
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