The 1885-CC Morgan Dollar is one of the most sought-after coins among collectors, not only because of its rarity but also due to its historical significance. Minted in Carson City, Nevada, this silver dollar is a key piece for any serious coin enthusiast.
Its story, market trends, and the conditions under which it was produced all contribute to its desirability. Let’s dive deeper into what makes the 1885-CC Morgan Dollar so special.
The History Behind the 1885-CC Morgan Dollar
The 1885-CC Morgan Dollar was minted at the Carson City Mint, which had a fluctuating history of operations due to the economic and political changes of the time. On November 6, 1885, the mint ceased coin production following a decision by the U.S. Treasury, driven by a decrease in the mining output from nearby Virginia Range mines.
At this point, the Carson City Mint had been mainly producing silver dollars due to a congressional mandate. However, compared to mints in Philadelphia, New Orleans, and San Francisco, the output from Carson City was relatively small.
With only 13.8 million silver dollars produced by Carson City across its entire history, it was quickly overshadowed by other mints, such as Denver, which produced more than 21 million coins in 1921 alone.
Despite this, the Carson City Mint reopened briefly in 1889, resuming production of Morgan Dollars in 1890. However, by 1893, its operations came to a final halt, marking the end of an era for the famous Nevada mint.
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Market Value and Current Availability
Although the 1885-CC Morgan Dollar was produced for circulation, very few coins were actually released for public use. The majority of these coins were stored in vaults, either in San Francisco or other Treasury facilities. This makes the 1885-CC Morgan Dollar particularly rare and valuable today.
According to numismatic expert Rusty Goe, of the original 228,000 coins minted, between 155,000 and 168,000 have survived, most of which remain in Mint State condition. Some of these coins were released during the 1950s, but it wasn’t until the General Services Administration (GSA) sales between 1973 and 1980 that a significant number of 1885-CC Morgan Dollars became available to the public.
Grading and Pricing Trends
For collectors, the grade of a coin plays a vital role in determining its value. Most 1885-CC Morgan Dollars fall within the Mint State (MS) range, typically graded from MS63 to MS64, with prices ranging from $800 to $1,000. However, prices can increase significantly for coins graded higher. For example, a coin in MS67 condition can fetch over $9,000, while MS68 and higher grades are incredibly rare and valuable.
The Professional Coin Grading Service (PCGS), Numismatic Guaranty Corporation (NGC), and Certified Acceptance Corporation (CAC) are the three leading grading agencies that have certified the majority of surviving 1885-CC Morgan Dollars. As of October 2024, PCGS has graded the most coins, with several achieving top-pop grades, such as MS68+. The most coveted coins, like the PCGS MS68+ CAC, can reach prices as high as $46,000 at auction.
Notable Auction Sales
Several 1885-CC Morgan Dollars have made headlines due to their high prices at auction. Some notable examples include:
- PCGS MS68+ CAC: Sold for $46,000 at Heritage Auctions in January 2009.
- NGC MS68: Achieved a sale price of $18,400 at the same auction.
- PCGS MS67+ CAC: Multiple coins in this grade have fetched between $9,000 and $16,800 at various auctions between 2021 and 2024.
Rarity and Collectibility
One of the key factors that make the 1885-CC Morgan Dollar a prized possession is its rarity. In addition to the overall low mintage, specific varieties of the coin, such as the VAM-2 and VAM-3, are highly sought after. These varieties are distinguished by small design anomalies, like doubling or unique die marks, which make them particularly interesting to collectors.
For example, the VAM-3 variety, featuring a curved die line near Liberty’s eye, is one of the most famous varieties of the 1885-CC Morgan Dollar. Coins of this variety in top grades often command premium prices due to their distinct characteristics.
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Conclusion
The 1885-CC Morgan Dollar is not just another silver coin; it’s a piece of American history. Its rarity, combined with the story of the Carson City Mint, makes it a highly desirable coin for collectors. While prices for the 1885-CC Morgan Dollar vary depending on the grade, it remains a cornerstone of any serious coin collection.
With its rich history and impressive market value, the 1885-CC Morgan Dollar continues to captivate collectors worldwide. Whether you are a seasoned numismatist or a newcomer to the hobby, this coin is a worthy investment that holds both historical and financial significance.
Ethan is a passionate rare coin collector with years of experience uncovering the stories and history behind unique coins. His insightful articles are a go-to for anyone curious about coin values or their fascinating backstories.