MINUTEMAN
RARE COIN
COMPANY
(339) 222-4571
Carson City Morgan Silver Dollars 1878-1893
"Your # 1 go-to source for Rare Carson City Morgan Silver Dollars"
At Minuteman Rare Coin Company, we specialize in the Morgan Silver Dollar series, primarily focusing on the legendary coins produced at the famous "Holy Grail" of mints, Carson City.
Carson City Morgan Silver Dollars have an allure all their own. One can make a solid argument they are the most desired and sought-after Silver coins by collectors and investors ever produced by the United States Mint.
Carson City Morgan Silver dollars are always in high demand. Collector's and investor's fascination for these precious gems is historical worldwide due to their connection and association with the "heydays" of one of America's most legendary eras, the "Wild West" during the late 1800s.
Holding a Carson City Morgan dollar in your hand brings you back to a time and place of lore and legend. These are the coins that Jesse James and his gang robbed from banks, and Wyatt Earp may have used while playing poker in a saloon in the wickedest town in the American West, the OK Corral in Old Tombstone, AZ.
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This was an era of many famous places and personalities, like the American Frontiers' first true gunfighter, "Wild" Bill Hickock. Then there is Doc Holliday, Calamity Jane, and legendary towns like Dodge City.
Nothing conjures up images of adventure and the danger of a life filled with dusty boomtowns, rowdy saloons, gunslingers, stagecoach robbers, and notorious outlaws like Billy "The Kid" more than a Carson City Morgan Dollar.
At Minuteman Rare Coin Company, our expert advice will help you make informed decisions, choose the "right" coins, and navigate the exciting world of rare coins.
The Morgan Silver dollar series was minted at five facilities with 96 date and mintmarks produced over 27 years from 1878 to 1904 and 1921.
The Carson City Mint produced Morgan Dollars in only 13 of those years, from 1878 to 1885 and 1889 to 1893.
657 million Morgan Silver Dollars were minted over 27 years, and the Carson City Mint produced the lowest total mintage output in the Morgan Silver Dollar series by far, with ONLY AN ASTOUNDING 14 million coins minted over 13 years!
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If you subtracted the roughly 230 million Morgan Dollars minted after the Carson City Mint closed in 1893, that means that out of roughly 430 million Morgans minted between 1878 and 1893 only 14 million came from Carson City. That is around 3% of ALL Morgan Dollars minted during this period!
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Only around 2% of all Morgan Silver Dollars are estimated to bear the famous "CC" mintmark. It is the only mint to use two letters to designate a coin's origin of production.
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During the late 1800s, Carson City Morgan Dollars experienced wide circulation, mass melting, heavy exportation, and hoarding, leading to today's low survival rates for most issues graded in higher Mint State condition.
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Investors and collectors worldwide covet these precious coins, especially higher-grade specimens. The demand for these legendary coins far outweighs the supply.
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There are 13 coins in a Carson City Morgan Silver Dollar mint set, and 6 have either very low mintage outputs or large quantities of their mintages experienced wide circulation or went into the melting pot.
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For example, the coin you see below, the 1889-CC, had a mintage figure of only 350,000. Very few coins were released into circulation. The best estimation is that between 250,000 and 325,000 were melted, making it one of the rarest coins in the Carson City series and the entire Morgan Silver Dollar series itself.
By the time the first Carson City Morgan Silver dollars rolled off the coin press in 1878, citizens living in the Eastern part of the United States had become accustomed to using federally issued paper currency, known as "greenbacks."
Folks living in the West deeply distrusted federally issued paper currency and still used Gold and Silver coins in their daily lives.
Carson City Morgan dollars experienced heavy circulation in Nevada, the Rockies, the Pacific Coast, the Far West, and Western territories—one of the biggest reasons for their low survival rates in higher certified Uncirculated Mint State condition.
The Carson City Morgan silver dollar's historical significance, low supply, high demand, consistent price appreciation, and growth in value make them genuine, authentic, and valuable prized American rarities of the late 19th century.
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In most instances and as a general rule, Carson City Morgan Silver Dollars carry a premium over other Morgan dollars produced at different mints, especially coins graded and authenticated in higher Uncirculated Mint State condition. Key date Morgan Dollars minted elsewhere are exceptions to this rule.
In 1893, the famed Carson City Mint fell victim to the repeal of the Sherman Silver Purchase Act and the "Panic" of 1893, leading to the closing of the legendary mints doors forever.
THE COMSTOCK LODE
Carson City, Nevada, was an unlikely site for a United States Mint. The Bureau of the Mint chose this location due to its proximity to the most significant silver strike ever known worldwide, the famous Comstock Lode.
Carson City was located only 12 miles from the discovery and was built as a boomtown ruled by large mining companies. Later it would become the capital of the state of Nevada.
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In 1859, two prospectors dug a ditch to collect water in Six-Mile canyon in the Sierra Nevada Mountains near a dusty little town named Virginia City when they realized they had discovered Gold.
They didn't know that they had found the largest silver vein the world had ever seen. The problem was how all this raw silver ore would be mined and coined into currency.
The nearest mint was located over 200 miles away in San Francisco. This meant crossing through dangerous territory occupied by Native American Indians, encountering notorious outlaws, and the ultimate task of passage through the Sierra Nevada Mountains to reach its final destination.
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There became an urgent need for the U.S. Bureau of the Mint to add a branch mint to bring coin production closer to the tremendous Gold and Silver bullion sources location. In 1863, Congress authorized and approved the Carson City branch mint.
The Carson City mint opened for operations in 1870 and immediately started producing Gold and Silver coins. After the passage of the Bland-Allison Act in 1878, the production of the Morgan Silver dollar began in earnest.
The first Morgan dollars bearing the famed "CC" mintmark began rolling off the coin presses in late 1878.
KEY-DATE CARSON CITY MORGAN SILVER DOLLARS
1892-CC
This coin is one of the most challenging Carson City dates to acquire in higher Mint State condition. It ranks as one of the rarest coins in the entire Morgan Silver Dollar series due to its low survival rate in high Mint State grades.
There is always a high demand for this coin by investors and collectors. Most of the mintage was immediately released into circulation, resulting in a low survival rate, making it a rare issue as you climb the ladder into higher Mint State grades. The coin tends to be well-struck with excellent frosty luster.
1893-CC
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The 1893-CC is a top-rated coin. It is the third-rarest coin in the Carson City Morgan Dollar series, behind only the 1879-CC. It was the last year the Carson City Mint produced the Morgan Silver dollar and the year the famed Mint closed.
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The finest known example of an 1893-CC is a single MS-66. It has been a long-time investor and collector favorite due to its history, scarcity, rarity, and position as the last Carson City Morgan dollar minted.
1879-CC
The 1879-CC Silver Dollar is an extremely popular and important date amongst collectors and investors. It is also one of the scarcest Carson City Minted Morgan Dollars. There are two varieties of the 1879-CC. The mintmark is found either rusted or unrusted.
The rusted version is often called the "Capped CC." Both types are highly desirable and challenging to acquire. They have a low survival rate and a low certified Mint State population above MS-64.
Although the non-rusted variety is more common, investors and collector demand keep values high for both varieties. There is only one non-capped example graded MS-66 with none higher. None of the non Capped die examples have been graded finer than MS-65.
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1889-CC
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The 1889-CC is a great rarity in Mint State. In certified higher Mint State condition, this coin is out of reach price-wise for most investors and collectors, and that's if any come on the market.
This significant key date coin will most likely have to be acquired in VF (Very Fine) condition and, if possible, in lower Mint State condition.
After briefly closing operations in 1885, the Carson City Mint resumed production in late 1889. In 1889 Carson City minted only 350,000 Morgan dollars, and very few coins were released into circulation.
The best estimates are that between 250,000 and 325,000 of the 1889-CC Morgans were melted, making this coin one of the scarcest in the Carson City series and the entire Morgan Dollar series itself.
The 1889-CC has a few angles that make it an investor and collector favorite and represents an excellent opportunity for growth in value and price appreciation.
SUMMARY:
Carson City Morgan Silver Dollars are historic, extremely valuable, and legendary coins worldwide.
They are genuine late 19th-century American rarities. These coins tell a story of life during the "heydays" of the "Wild West" in late 1800s America.
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We strongly recommend assembling and completing a 13-coin Carson City Morgan Silver Dollar mint set in the highest certified grades you can afford. Completing this mint set is a formidable task.
It will make for an admirable achievement for its proud owner and based on their track record represents an exceptional opportunity for growth in value and price appreciation over time.
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We are here to assist you in acquiring the finest specimens of Carson City Morgan Silver dollars you can afford.
They must be a part of any serious United States rare coin collection for collectors and investors of all calibers.
MINUTEMAN RARE COIN
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What's the number one piece of advice we give our clients?
"Always acquire the best coins you can afford, and always choose quality over quantity!"
Sincerely,
Edward Walsh
President/CEO
Minuteman Rare Coin
