Morgan dollars are famous coins that many collectors love. They were minted from 1878 to 1904 and again in 1921. One of the most exciting aspects of collecting these coins is the different types available, especially the Deep Mirror Prooflike (DMPL) Morgan dollars. This article explores the unique features and pricing challenges of these coins, highlighting a notable example from a recent auction.
| Feature | Description |
|---|---|
| Type | Morgan Dollar |
| Designer | George T. Morgan |
| Minting Period | 1878-1904, 1921 |
| Key Design Elements | Lady Liberty (obverse), American eagle (reverse) |
| Unique Feature | Deep Mirror Prooflike (DMPL) finish |
| Grading Service | Professional Coin Grading Service (PCGS) |
| Notable Example | 1901 Morgan dollar graded MS-61 DMPL, sold for $40,800 |
| Common Issues | Poor strike quality and inadequate luster in most MS-61 dollars |
| Community Resources | Coin World eNewsletter, Dealer Directory, social media platforms |
The Morgan Dollar Series
Morgan dollars are a part of American history and numismatics (the study of coins). Designed by George T. Morgan, these coins feature Lady Liberty on one side and an eagle on the other. Their beauty and historical significance make them highly sought after by collectors. However, not all Morgan dollars are created equal.
What Are Deep Mirror Prooflike Morgan Dollars?
Deep Mirror Prooflike Morgan dollars are special coins with a highly reflective surface. They are different from regular Morgan dollars because they have a mirror-like finish that is very attractive to collectors. This feature makes them stand out, but it also creates some unique challenges when it comes to pricing.
The David T. Miller Set
In the January 11 session at Heritage’s Florida United Numismatists Platinum Night, a notable set of Morgan dollars was showcased, known as the David T. Miller set. One of the highlights was a 1901 Morgan dollar, which was graded Mint State 61 DMPL by the Professional Coin Grading Service (PCGS). This coin was unique because it was the only example graded with this designation at the time.
The Rarity and Value of the 1901 Morgan Dollar
Q. David Bowers, a well-known numismatist, pointed out that most Mint State 1901 dollars are poorly struck and lack the luster that collectors prefer. In general, MS-61 dollars are not very appealing. However, Miller’s 1901 dollar was different. It had a significant reflectivity in its fields and showed scattered marks that matched its grade. This coin sold for an impressive $40,800, which is much higher than a typical PCGS MS-61 example that sold for about $5,880 last year.
The Importance of Quality in Coin Collecting
The sale of Miller’s 1901 dollar demonstrates how quality matters in coin collecting. Even within the same year and grade, the features and condition of the coin can make a huge difference in its value. Collectors are often willing to pay more for coins that have exceptional quality, like the DMPL Morgan dollars.
Connecting with Coin Collecting Communities
If you want to learn more about coin collecting, you can connect with communities like Coin World. You can sign up for their free eNewsletter, check out their Dealer Directory, and follow them on social media platforms like Facebook and X (formerly Twitter). Whether you’re a seasoned collector or just starting, these resources can help you stay informed about the latest trends in numismatics.
Conclusion
Morgan dollars, especially the Deep Mirror Prooflike ones, present both challenges and excitement for collectors. The example from the David T. Miller set illustrates how unique features can significantly affect a coin’s value. Understanding the nuances of grading and rarity in coins like the Morgan dollar can enhance your collecting experience. As the world of numismatics continues to grow, being part of a community can help you learn and share your passion for these fascinating pieces of history.
FAQs
What are Morgan dollars?
Morgan dollars are U.S. silver coins minted between 1878 and 1904, and again in 1921. They are named after their designer, George T. Morgan. These coins feature Lady Liberty on one side and an eagle on the other.
What does “Deep Mirror Prooflike” mean?
“Deep Mirror Prooflike” (DMPL) refers to a specific grading designation for Morgan dollars. It indicates that the coin has a highly reflective, mirror-like finish, which is rare and highly sought after by collectors.
How are Morgan dollars graded?
Morgan dollars are graded based on their condition and quality. The grading scale typically ranges from Poor (P) to Perfect (PR-70). Coins like the DMPL Morgan dollars may receive higher grades, indicating better quality and appeal.
Why are some Morgan dollars worth more than others?
The value of a Morgan dollar can vary significantly based on its rarity, condition, and demand. For example, coins with unique features or higher grades, like the 1901 MS-61 DMPL, can fetch much higher prices at auctions.
Where can I learn more about coin collecting?
You can learn more about coin collecting by joining communities such as Coin World, signing up for their eNewsletter, exploring their Dealer Directory, and following them on social media platforms like Facebook and X (Twitter).