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GSA Morgan Dollars

As the government was winding down the exchange of silver certificates for silver in the mid-1960s, they realized they still had over 3,000,000 silver dollars still on hand, mostly from the Carson City Mint. The coins ranged in condition from heavily circulated to coins in pristine condition and also included about 125,000 coins from other mints. For lack of a better name, the hoard was named the GSA Hoard, because it was being administered by the Government Services Administration. The government decided to sell the coins in a series of five mail order bids that were held from October 31, 1972 until June 30, 1974. After the fifth mail bid had been completed, the government still had approximately one million silver dollars still on hand. Nothing was done with these coins until 1979, when the President Carter signed legislation authorizing the sale of the remaining coins at a fixed price. The remaining GSA Dollars were sold by 1980.

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