Coin Specifications

Category: Morgan Dollars (1878-1921)
Mint: Carson City
Mintage: 677,000
Catalog: KM-110
Composition: Silver
Fineness: 0.9000
Weight: 26.7300g
ASW: 0.7734oz
Melt Value: $12.18 (12/26/2014)
Diameter: 38.1mm
Numismatic specification data provided by Krause Publications NumisMaster.
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1893 CC S$1 MS obverse 1893 CC S$1 MS reverse


  
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Description & Analysis

Anyone who has ever been to Carson City, Nevada, has probably walked or driven past the old mint. For coin collectors the little stone building is nostalgic, a place that lures our imaginations back to a time of simplicity in the American West. Most of the public, of course, has no idea that this place on the main street, just a few blocks from the seat of state government and within "jingling" noise distance of the casinos, once poured out a river of beautiful, bright, brand-new coins, mostly silver coins, made from ore taken from mines not far away. The Comstock Lode created Nevada's first millionaires, out of ordinary men. At first they had no market for their product. The Bland-Allison Act of 1878 was a political boondoggle of its time, a favoritism of American brand, born to use up the tons of silver that eventually shored up the wealth of the Treasury, but in 1878 was a godsend to nobody but the silver miners. A dozen years after the Morgan dollar was born, millions sat unused in government vaults as backing for the increasing volume of paper currency "certificates" in circulation. In 1890, the Bland-Allison Act was repealed. The Sherman Act replaced it on July 14 of that year. In his masterful study Fractional Money, Neil Carothers explains that "Under the new provisions the Treasury was to buy 4,500,000 ounces of silver per month, to be paid for with Treasury notes that were to be legal tender. The notes were to be redeemable in gold coin or in silver dollars coined from the bullion purchased." This act, in fact, bolstered government support for Nevada's silver miners, providing a use for their product. Some 5.8 million silver dollars were minted every month beginning in 1890, yet most of the Treasury notes were redeemed in gold. The government's vaults soon bulged with gleaming new silver dollars. "In 1893," Carothers notes, "a series of adverse economic developments brought disaster to the Treasury." Its store of gold was being rapidly diminished, while silver was accumulating. "This operation, which would eventually destroy the solvency of the government, was merely the process by which the excessive issues of silver dollars and paper money were displacing gold ... " which was being exported to Europe. In 1890 the Sherman Act was repealed. "As a net result of the laws of 1878 and 1890 the country acquired approximately 570,000,000 silver dollars," Carothers states. Politicians argued the merits of gold versus silver. Silver dollars circulated mainly in the west and south. When the Carson City Mint was closed in 1893, the nation was awash in silver dollars, gleaming new coins not quite worth their intrinsic value. It was the end of an era at Carson City, and an alluring rarity was born.

Even if the 1893-CC silver dollar was not a low mintage issue with a low survival rate, it would still be popular as the final year of issue, just as the 1893-CC double eagle is of interest to collectors.

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: 12/16/2014

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

1893 CC S$1 MS
  GVGFVF4045505355586061626364656667686970
Base $ 190 275 350 730 1550 1550 2350 2550 2750 3350 4500 5000 6250 9100 22500 71000 115000 187500 - - -
$ 1750 2500 2700 3100 3750 - - 7350 11750 29375 88000 125000 - -
1893 CC S$1 MS Prooflike
  GVGFVF4045505355586061626364656667686970
Base $ - - - - - - - - - 3900 4750 5500 7000 13000 33500 - - - - - -
$ - - - - - - - - - - - - - -
1893 CC S$1 MS Deep Prooflike
  GVGFVF4045505355586061626364656667686970
Base $ - - - - - - - - - - 5400 6500 8600 19500 55000 - - - - - -
$ - - - - - - - - - - - - - -
NGC Price and Value Guides Disclaimer

Census

 
NGC GRADE SUMMARY

Total Graded: 3874
Low Grade: PrAg
Average Grade: 53
High Grade: 65


Upcoming Auctions

A random selection of NGC coins is shown below.

Images
Date
Grade
Auction House
Sale / Lot
1/12/2015 VF 35   Heritage Auctions 2015 January 7 - 12 FUN US Coins Signature Auction - Orlando Session(9), 1216/Lot# 10985
1/12/2015 VF 35   Heritage Auctions 2015 January 7 - 12 FUN US Coins Signature Auction - Orlando Session(9), 1216/Lot# 10986
1/12/2015 MS 64   Heritage Auctions 2015 January 7 - 12 FUN US Coins Signature Auction - Orlando Session(5), 1216/Lot# 6069
1/12/2015 MS 60   Heritage Auctions 2015 January 7 - 12 FUN US Coins Signature Auction - Orlando Session(5), 1216/Lot# 6683
1/14/2015 MS 62  Deep Prooflike Heritage Auctions 2015 January 13 - 14 World Coins & Ancient Coins - Dallas Session(2), 3038/Lot# 35404


Auction Prices Realized

A random selection of coins is shown below.

Images
Date
Service
Grade
Auction House
Sale / Lot
Price
2/13/2006 PCGS F 15   Teletrade Auction 2160, 2160/Lot# 1656 $380.80
5/28/2006 NGC MS 62   Goldberg May 28-31, 2006 Pre-Long Beach Coin and Currency Auction, 36/Lot# 3178 $4,255.00
12/2/2010 PCGS VF 35   Heritage Auctions 2010 December Houston Signature US Coin Auction Session(2), 1147/Lot# 3977 $862.50
9/4/2011 PCGS MS 63   Bonhams Coins and Medals, 19251/Lot# 1068 $4,329.00
4/14/2013 NGC Details F Details  Heritage Auctions Internet Coin Auction Session(1), 131317/Lot# 26383 $199.75
6/16/2013 PCGS MS 63   David Lawrence Rare Coins Internet Auction # 756, 765/Lot# 833 $7,450.00
12/29/2013 NGC Details VG Details  Heritage Auctions Internet Coin Auction Session(2), 131401/Lot# 20476 $199.75
7/11/2014 NGC XF 40   Stack's Bowers iAuction 3490, 6041/Lot# 20517 $1,102.15
8/31/2014 PCGS VF 30   GreatCollections GreatCollections Coin Auctions 08/31/2014, 189/Lot# 217088 $500.00


NGC Registry

NGC Registry Score 1893 CC S$1 MS
 PrAgGVGFVF4045505355586061626364656667686970
Base527570680820133321242335261427812860315435103786420845155574108871224114944170272944645057
54160672699115962194242826692807295832723602392643104868734511338131421563821166346490
00000024282669280729583272360239264310486873451133813142156382116600
00000025212725283330563391369440674412522191161178914043163322530600
1893 CC S$1 MS Prooflike
 PrAgGVGFVF4045505355586061626364656667686970
Base5656097058741404223324512740291329943113366138384190511777701124912635181252490674282133949
579641761105016802305254727972940303332953720395544996001892911711144652038541364941710
00000025472797294030333295372039554499600189291171114465203854136400
000000264328552967307334783779407248086885100891217316295226455782300
1893 CC S$1 MS Deep Prooflike
 PrAgGVGFVF4045505355586061626364656667686970
Base6206707939491519238526142917309831833501375140454550761898171174813914249063340596664134561
63671184511391807246127152977312632893584384942135572835110460124701757827739544911092960
000000271529773126328935843849421355728351104601247017578277395449100
000000281630373154339536673947438165959084111041319221242305727557700
Registry Image Gallery
Grade: MS 64
Points: 5574
Owner: Dr. B K
 
Grade: MS 61
Points: 3786
Owner: TopnotchCoins
 
View the Registry Image Gallery

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