The GSA hoard

While millions of coins were made available in the GSA hoard very few remain in a state of preservation as seen on this site.

After the finding of Carson City Mint bags of silver dollars in the basement of the Mint Building in 1964, the coins were eventually moved and organized by the General Services Administration (GSA). The GSA was tasked with the sale of these millions of silver dollars under the Nixon Administration.

The GSA separated the coins into a Uncirculated Category and a Silver Dollar category, though all the coins were uncirculated and silver dollars. What they were really separating was “tarnished” coins and not tarnished coins. Given these were government workers not verse in coins, the lines between the two were often blurred. Uncirculated coins should be white, silver dollar coin should be tarnished or even damaged (scratches, counting wheel marks, etc.). In reality you can find amazing toned coins in the silver dollar holders and blast white coins in the silver dollars.

The dollars began to be sold in 1972 with releases continuing until 1980, there were a total of 7 sales. Initially it was started by placing bids while later bids were a set price. In the years following the sales you often heard stories of garbage coins full of GSA holders at coin shows after the coins had been broken out.