NGC Grades Dollars in GSA Soft Pack Holders and US Mint Sealed Soft Pack Holders
Posted on 4/1/2007
NGC is now grading dollar coins in soft pack holders, as issued by the U.S. General Services Administration (GSA), and Eisenhower Dollars in soft pack U.S. Mint holders, often called Blue Ikes. In order to preserve the integrity and pedigree of the original holders, NGC will grade and holder these coins while still in their original holders of issue. The entire soft pack holder will then be sealed in a semi-rigid clear plastic case. A label across the top will include necessary attribution information, the coin's pedigree, and NGC-certified grade.
NGC will provide the same information that it does for its normal grading services, but this information will appear on an oversize label at the top of the semi-rigid soft pack case. Several security features have been incorporated into the label including a hologram. Because the coins are not in NGC holders, NGC cannot guarantee the grades it applies to these GSA or U.S. Mint Sealed dollars. The case developed for this purpose is made from high-quality, inert materials. Furthermore, it is thoroughly sealed around its edges with no openings or perforations, to guard against environmental hazards and contaminants.
In future months, these coins will be added to the NGC Census marked with the pedigree GSA SOFT PACK or U.S. MINT SEALED, as applicable. These coins will also be immediately eligible for inclusion in the NGC Registry.
NGC President Rick Montgomery comments that "this new service offering from NGC has been a long time coming. It is a perfect companion piece to our certification offering for similar coins in rigid GSA and U.S. Mint packaging first developed in 2001. There has been an overwhelming demand for these services, and we are pleased that improvements in holder design and technology now enable us to offer this service. NGC continues to be an innovator and market leader by tailoring new products to benefit the collector and numismatic marketplace."
GSA and U.S. Mint Sealed Dollars
After an audit in 1964 revealed that the U.S. Treasury held millions of silver dollars, a comprehensive accounting and preparations for their disposition began. In a series of sales between 1973 and 1980, the GSA offered these coins at public auction. Coins deemed to be circulated were auctioned in 1973. These coins, unlike the uncirculated coins, were packaged in soft plastic sleeves with a white plastic GSA token. A certificate, bidding information card, and the sealed dollar were then placed inside a blue envelope marked "United States Silver Dollar."
It is widely believed that fewer than 100,000 of these GSA soft pack dollars were sold, although an official number has never been released by the GSA. At the time, grading standards were less rigidly defined and not accurately applied; many of these coins are thus not circulated but in fact toned or bag-marked uncirculated coins. A wide range of dates, including key issues, were also indiscriminately sorted into the offering of circulated coins.
An overlapping offering of silver-clad Eisenhower Dollars from the U.S. Mint issued coins in similar packaging. These coins are also eligible for NGC certification under similar service guidelines. Circulating dollars were issued in November, 1971 and were minted in the same copper-nickel-clad composition used for the dime and quarter since 1965. Also included in their authorizing legislation was a non-circulating, silver-clad version of the Eisenhower Dollar for sale to collectors. Like the half dollars of 1965-70, these coins were made from a three-layered strip. The two outer layers were composed of .800 silver and .200 copper, bonded to a center strip of .209 silver and .791 copper, for a net silver content of .400 fine.
Uncirculated editions of the silver-clad dollar were coined by the San Francisco Mint from 1971 through 1974, when the program was interrupted by the special bicentennial coinage. The uncirculated dollars were sold for $3 apiece and packaged in a transparent pliofilm envelope that was then inserted into a navy blue outer envelope. During the first year of issue, 1971, nearly seven million silver-clad dollars were sold. In subsequent years, 1972-1974, mintage figures dwindled to the two million mark.
All GSA dollars and U.S. Mint Sealed coin must be submitted on invoices separate from other coins and service types. GSA dollars may be submitted under any NGC tier at the Economy level or higher, excluding Gold Rush and Specialty Gold. The usual minimum numbers and value limits apply for each tier, and non-GSA coins cannot be included to achieve the minimum numbers. U.S. Mint Sealed Ikes can be submitted under Modern Tier, but again, the tier minimum coin requirements apply.
The turnaround times for these services will be the same as current tier processing times, posted on the NGC website. Bulk submission services are available to NGC Authorized Dealers submitting coins in quantity of 100 or more. Dealers should contact the NGC bulk department for current turnaround times.
Please do not submit coins with accompanying envelopes or certificates. These are not required for submission processing and will not be returned to you. Send only the coins in pliofilms (Soft Packs). Also note that Soft Packs must be complete, uncut and with token. Damaged or tampered GSA or U.S. Mint Sealed holders will not be eligible for certification under this service and will be returned uncertified.
If you have questions about the submission of GSA or U.S. Mint Sealed Dollars, please contact Customer Service at 1.800.642.2646 or by e-mail at Service@NGCcoin.com.