The 1879 CC $1 Morgan Silver Dollar, graded PCGS-CAC MS65, is not only a stunning example of American coinage but also a highly sought-after collectible. With a price tag of $50,000, this coin represents an important piece of U.S. history, showcasing the artistry of its design and the significance of its minting location. In this article, we will explore the historical background of the Morgan Silver Dollar, the significance of the 1879 CC issue, its key features, and why it is valued so highly in today’s market.
Historical Background of the Morgan Silver Dollar
The Morgan Silver Dollar was created by designer George T. Morgan and was minted from 1878 to 1904, and again in 1921. This coin was a significant part of U.S. currency and was used in everyday transactions during its time. The introduction of the Morgan Dollar was part of the U.S. government’s effort to increase the circulation of silver currency, which was needed for commerce.
The Carson City Mint
The Carson City Mint (CC) played a crucial role in the production of Morgan Silver Dollars. Established during the California Gold Rush, it was responsible for minting coins from the abundant silver mined in the area. The mint produced a limited number of coins, making those struck at Carson City particularly rare and valuable today.
Design Features of the 1879 CC Morgan Silver Dollar
The 1879 CC Morgan Silver Dollar is known for its classic design that reflects the spirit of the era. Here’s a closer look at its features:
| Feature | Description |
|---|---|
| Obverse (Front) | Features a profile of Lady Liberty wearing a Phrygian cap, symbolizing freedom. Surrounding her are the words “E PLURIBUS UNUM” and the year of minting. |
| Reverse (Back) | Displays an eagle with outstretched wings, holding arrows and an olive branch, symbolizing strength and peace. Above the eagle are the words “UNITED STATES OF AMERICA” and “ONE DOLLAR.” |
| Edge | The coin has a reeded edge, which helps to prevent counterfeiting. |
Key Features of the 1879 CC Morgan Silver Dollar
| Characteristic | Details |
|---|---|
| Mintmark | “CC” for Carson City, located below the eagle on the reverse. |
| Metal Composition | 90% silver and 10% copper, giving it a beautiful, bright luster. |
| Diameter | 38.1 mm (1.5 inches) |
| Weight | 26.73 grams (0.935 ounces) |
Understanding the PCGS-CAC MS65 Grade
Grading is a critical aspect of coin collecting, as it affects the value significantly. The PCGS (Professional Coin Grading Service) and CAC (Certified Acceptance Corporation) grade coins based on their condition and appearance. The MS65 grade indicates:
- MS65: This stands for “Mint State 65,” meaning the coin has only minimal imperfections and retains strong eye appeal. Coins graded at this level have no significant wear and show a high degree of original luster.
Significance of the CAC Sticker
The CAC sticker signifies that the coin has been verified as high quality by an independent body. It ensures that the coin not only meets the PCGS grade but is also considered desirable among collectors. This further enhances the value of the 1879 CC Morgan Silver Dollar.
Rarity and Value of the 1879 CC Morgan Silver Dollar
The 1879 CC Morgan Silver Dollar is highly coveted by collectors for several reasons. Firstly, only a limited number were minted, making them rare. In total, 756,000 coins were produced at the Carson City Mint, but many have been lost or damaged over the years, leaving fewer in excellent condition.
Current Market Value
As of now, the 1879 CC Morgan Silver Dollar is valued at $50,000 due to its rarity, condition, and historical significance. The combination of the PCGS-CAC MS65 grade and the Carson City mintmark makes this coin particularly desirable in the market.
| Rarity | Details |
|---|---|
| Mintage | 756,000 coins produced |
| Current Value | $50,000 |
Conclusion
The 1879 CC $1 Morgan Silver Dollar PCGS-CAC MS65 is a remarkable piece of American history that every serious collector dreams of owning. Its unique combination of a distinguished design, a prestigious grading, and a rich history makes it a standout item in the world of numismatics. As coins of this caliber continue to rise in value, the 1879 CC Morgan Silver Dollar stands as a testament to the beauty and significance of American coinage. Whether you are a seasoned collector or new to the hobby, understanding the importance of this coin can deepen your appreciation for its place in American history and its value in the marketplace.
FAQ’s
What does the “CC” mintmark on the 1879 Morgan Silver Dollar represent?
The “CC” mintmark indicates that the coin was minted at the Carson City Mint in Nevada. This mint was known for producing a limited number of coins, making those with the CC mintmark particularly rare and valuable.
Why is the 1879 CC Morgan Silver Dollar valued at $50,000?
The coin is valued at $50,000 due to its rarity, excellent condition (graded PCGS-CAC MS65), and historical significance. The combination of a limited mintage and high demand among collectors contributes to its high market value.
What does the PCGS-CAC MS65 grade mean?
The PCGS-CAC MS65 grade means the coin is in “Mint State 65,” indicating it has minimal imperfections and retains strong visual appeal. The CAC sticker verifies its quality and desirability among collectors, further enhancing its value.