Coin Specifications

Category: Morgan Dollars (1878-1921)
Mint: Carson City
Mintage: 350,000
Catalog: KM-110
Composition: Silver
Fineness: 0.9000
Weight: 26.7300g
ASW: 0.7734oz
Melt Value: $15.24 (4/19/2014)
Diameter: 38.1mm
Numismatic specification data provided by Krause Publications NumisMaster.
Link to this coin

1889 CC S$1 MS obverse 1889 CC S$1 MS reverse


  
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Description & Analysis

Carson City struck their first silver dollars in 1870, the first year of coinage operations. They continued to strike Seated dollars through 1873, and Trade dollars until 1878, in addition to subordinate silver denominations and gold half eagles, eagles, and double eagles. Beginning in 1878, all of the mints, including Carson City, were primarily occupied with the production of silver dollars as a result of the Bland-Allison Act. Gold coins were also in production at the various mints. Coinage of silver dollars continued at Carson City into 1885, when operations of that mint were suspended. The cessation of operations was due to the extreme expense of coinage in comparison to the benefits. According to the mint director, costs were as high as 18% of the value of local deposits in 1885. At the time, Carson City was hardly a large city, with a population of only about 4,000 people, and overall population in the state was declining.

The Mint at Carson City opened again in the third quarter of 1889, with preliminary steps taken to prepare the facility for coinage. Rusty Goe writes in The Mint on Carson Street: "Carson City Mint employees were eager to get back to work in July of 1889. Four years of dormancy had left the facility in a state of disrepair, but clean-up crews removed the cobwebs, aired out the rooms, and dusted off the machinery in preparation for a resurrection of coinage operations."

As preparations were underway in Carson City, changes were being made in Philadelphia. Edward O. Leech took over reign of the Mint as its director in Philadelphia, a position that he held during these last years of Carson City production, stepping down in 1893. Leach was born in Washington, D.C., in 1850, and graduated from Columbia University and the National Law University. He served in the Bureau of Statistics at the Treasury Department before being transferred to the Mint Bureau. His resignation from the Mint gave him the opportunity to accept a position as vice president of the National Union Bank in New York City. Leech died in 1900.

The 1889-CC Morgan dollar was one of the lower mintage issues of the entire series, with just 350,000 coins produced. All of them were struck during the last three months of the year, with monthly production of 100,000 coins in October and November, and 150,000 coins in December. Many other less famous dates had lower mintages, but Goe explains that the many 1889-CC silver dollars met an early demise: "For unknown reasons, approximately 250,000 to 325,000 1889-CC silver dollars were eventually melted, securing this date as one of the keys to a set of Morgan dollars."

Like several other dates, this is an extremely rare issue in Gem quality. Most of those that avoided the melting pot were placed in circulation, and today the typical example grades just VF or lower, often with damage.

There seems to be a little confusion regarding the appearance of these coins. Wayne Miller, in 1982, stated "the typical 1889-CC is well struck, with average bagmarks." A decade later, Dave Bowers essentially said the same thing: "Nearly all 1889-CC dollars are well struck with excellent definition of details." However, another decade passed, and the Red Book of Morgan Dollars contained the following: "Usually an average strike at best, often below average." This Eliasberg specimen can only be considered well-struck.

The only quantity of Mint State examples is reported to be three bags, one owned by Harry Warner, and the other two owned by Ben Stack. There were also reports of a couple of bags located in Montana during the 1950s or early 1960s. Other than these, there have been no quantities of 1889-CC Morgan dollars released. The Treasury had none when their hoards of dollars were distributed in the early 1960s. Apparently, they actually retained one solitary coin, which later was part of the GSA sales of CC dollars in the 1970s.

Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.


GRADE SUMMARY

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Price Guide

Last Updated: 2/10/2014

Click on a price to see historical prices, comparison charts and trends.

1889 CC S$1 MS
  GVGFVF4045505355586061626364656667686970
Base $ 520 680 950 1350 3250 3250 6850 7700 9250 18500 24250 28000 35500 47000 75000 340000 550000 650000 1100000 - -
$ 3800 7350 8300 11000 21500 26500 31000 38500 52500 100000 390000 - - -
1889 CC S$1 MS Prooflike
  GVGFVF4045505355586061626364656667686970
Base $ - - - - - - - - 10000 21500 26500 30000 37000 49000 85000 375000 - - - - -
$ - - - 12500 23500 28500 33000 41000 54000 110000 - - - -
1889 CC S$1 MS Deep Prooflike
  GVGFVF4045505355586061626364656667686970
Base $ - - - - - - - - - - 31000 34000 40000 53500 97500 - - - - - -
$ - - - - - 35000 37500 45000 68000 140000 - - - -
NGC Price and Value Guides Disclaimer

Census

 
NGC GRADE SUMMARY

Total Graded: 4161
Low Grade: PrAg
Average Grade: 40
High Grade: 67


Upcoming Auctions

A random selection of NGC coins is shown below.

Images
Date
Grade
Auction House
Sale / Lot
4/27/2014 VG 8   Heritage Auctions 2014 April 23 - 27 CSNS US Coin Signature Auction - Chicago Session(9), 1204/Lot# 10349
4/27/2014 VF 30   Heritage Auctions 2014 April 23 - 27 CSNS US Coin Signature Auction - Chicago Session(9), 1204/Lot# 10352
4/27/2014 VF 25   Heritage Auctions 2014 April 23 - 27 CSNS US Coin Signature Auction - Chicago Session(9), 1204/Lot# 10351
4/27/2014 MS 63   Heritage Auctions 2014 April 23 - 27 CSNS US Coin Signature Auction - Chicago Session(4), 1204/Lot# 5292
4/27/2014 AU 55   Heritage Auctions 2014 April 23 - 27 CSNS US Coin Signature Auction - Chicago Session(3), 1204/Lot# 4835
4/27/2014 AU 50   Heritage Auctions 2014 April 23 - 27 CSNS US Coin Signature Auction - Chicago Session(3), 1204/Lot# 4833


Auction Prices Realized

A random selection of coins is shown below.

Images
Date
Service
Grade
Auction House
Sale / Lot
Price
11/30/2009 NGC AU 55   Prooflike David Lawrence Rare Coins Monday - Internet Auction # 432, 438/Lot# 590 $6,905.75
1/31/2010 NGC MS 61   Goldberg January 31 - February 3, 2010 Pre-Long Beach Coin and Currency Auction, 57/Lot# 1318 $19,665.00
11/3/2010 NGC MS 63   Stack's Bowers The November 2010 Baltimore Auction, 44/Lot# 4196 $29,900.00
12/2/2012 PCGS F 15   GreatCollections GreatCollections Coin Auctions 12/02/2012, 51/Lot# 85206 $831.60
12/16/2012 PCGS FA 2   Heritage Auctions Internet Coin Auction Session(2), 131252/Lot# 24892 $440.63
2/10/2013 PCGS XF 45   GreatCollections GreatCollections Coin Auctions 02/10/2013, 61/Lot# 99883 $3,373.70
4/22/2013 PCGS VF 35   Teletrade Auction 3427, 3427/Lot# 2324 $1,938.75


NGC Registry

NGC Registry Score 1889 CC S$1 MS
 PrAgGVGFVF4045505355586061626364656667686970
Base11661193136316832009296036394217441450136473717679418171928010952180262085921505241313706953637
1175124914691791232631863831428246135499670774318017854098371331018970210742238028443425910
000000383142824613549967077431801785409837133101897021074223802844300
0000004024434848135986694176868094891010394156681991421289232553275600
1889 CC S$1 MS Prooflike
 PrAgGVGFVF4045505355586061626364656667686970
Base123512641442177421133099380043964591464359867287786581119546106191850521443201532746586472134561
12441323155218872441333239984461460850906419747979478589990313247194842144322590471341025010
000000399844614608509064197479794785899903132471948421443225904713400
0000004197452646255538685376728029906710261158762046321443250276680300
1889 CC S$1 MS Deep Prooflike
 PrAgGVGFVF4045505355586061626364656667686970
Base1333136315511902225932924024464648595500706174668022851097971144219272222452746536576109094134561
134314251668202126033536423147175072602071967651818489391034514052202632398530502607481175830
0000004231471750726020719676518184893910345140522026323985305026074800
0000004438478852866540733178368347936810893166622125425725335398492100
Registry Image Gallery
Grade: MS 63
Points: 9280
Owner: MLMM Collection
 
Grade: MS 61 DPL
Points: 8022
Owner: Dr. B K
 
View the Registry Image Gallery

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