Investing in Gold: Carson City GSA's packaging can affect value

The value of many collectibles depends on condition and originality. The Carson City dollars from the GSA hoard are no different. During the last four columns I have discussed the pricing of the various years of Carson City GSA dollars, but this time I will address the packaging and its importance.

When the GSA hoard was dispersed and the government packaged the GSA dollars in their hard plastic cases, they were termed in one of two categories, uncirculated silver dollar or just silver dollar. The coins designated as "uncirculated" said so over the words "silver dollar," where as the other category did not.

The coins designated uncirculated had certificates of authenticity that were serial numbered. The interesting thing about the serial numbers was that the first two numbers always corresponded with the last two in the date of the coin, ex. 1883-CC dollars would begin with the serial number 83. The other certificates did not have a date.

This is important because over the years some of the cards have been lost or damaged and now have value of their own. A common card from the years 1882-1884 are only worth about $5 each, but a card from 1890 or 1891 will sell for around $200 and the 1879 cards have sold for upwards of $500.

Buying a GSA for a bargain price that does not have an original card may not be a bargain after all. Since the collectibles market has placed value on these certificates there have been unscrupulous people who have remade cards to accompany the Carson City dollars they sell. Buying Carson City GSA's from a dollar expert will help assure that the authenticity certificates you receive with your GSA are authentic themselves. I have seen GSA's sold by other dealers come with non-genuine cards. With the values of some of these certificates, that can be a costly mistake.

Since the boxes that the GSA's come in are interchangeable the value of the boxes should not skyrocket, but to replace one you could expect to pay $5-$10. So, receiving a good conditioned box with your purchase is important as well but not as important as the authenticity card.

The actual condition of the hard plastic case is also important. Things such as breaks, cracks, hairline fractures, old cleanings, and sticker damage can affect the premiums that an original GSA dollar will command. The rarer the date the more important the condition of the plastic becomes. I have seen 1890-CC GSA's sell for hundreds less just because of a small crack in the plastic. If you are after a rare date it is always prudent to have an expert check to make sure that the case has not been tampered with.

Collecting GSA dollars is fun, interesting and historically significant. If you are looking at building a nice set, make sure you take the time to learn about the packaging and its condition as well. A little knowledge now will help you realize better prices later, whether you sell them or they are handed down as a living legacy.

• Allen Rowe is the owner of Northern Nevada Coin in Carson City.