Long Live the KING!!!

Once upon a time, a long time ago, NGC brought forth new registry set categories for an obscure group of Morgan and Peace silver dollars accumulated by a few adventurous, and some might say foolhardy, collectors. These collectors toiled away in relative obscurity in pursuit of their passion, often maligned and misunderstood by other more mainstream collectors. They frequently overpaid for coins for reasons not comprehensible to most collectors. The coins were referred to as GSA (General Services Administration) coins, due to their historical connection to the GSA department of the government that issued the long lost coins in the 1970's and 1980's that had been sitting untouched in government vaults for almost a hundred years.

The GSA dollars can be grouped into three categories: (1) Carson City Morgan Silver Dollars in the GSA Hard Packs, (2) Non-Carson City Morgan Silver Dollars in the GSA Hard Packs, and (3) Morgan and Peace Silver Dollars in the GSA Soft Packs.

When NGC opened up the Non-Carson City Morgan Silver Dollars in the GSA Hard Pack set, I was one of the early adopters and briefly held the number one position. That short-lived glory soon shriveled and dried up as I witnessed some big money come swooping into the category, buying up rare coins at increasingly outrageous prices. I went into hibernation while prices skyrocketed to unsustainable levels. The peak in prices occurred in 2008, to be followed by a swift and painful popping of the bubble. Prices tumbled, and late comers to the party lost money big time. Some veterans saw it coming and sold out completely, taking their profits and running for the hills. One ex-collector took his profits and moved to Panama, and another to Venezuela.

At more reasonable prices, I have been lucky to pick up a coin here and there, and occasionally scored a rare date. Slow and steady, I have been making progress climbing back toward that impossible peak.

I am here today to announce that I have achieved my goal to reclaim my rightful position on the throne and the prior king has been vanquished. Not only has he been overthrown, but he has gone into exile by obscuring his collection. He will now regroup, rebuild and return in the Trojan Horse for his next sneak attack.

It has take me years, but the journey has been tremendous. Will I remain here at the top? Probably not for long. As we all know, once the sleeping giant has been awakened, he wreaks havoc on his enemies, and will stop at nothing to remove me from the throne. Wish me luck, my friends, for I shall likely come under full frontal attack from he who shall not be named soon enough.

Please take a look at:

http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=20538

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