Price variation of DMPL dollars

Merc

I just bought Miller's Morgan and Peace dollar textbook. I want to get into collecting DMPL Morgans. The thing is I see big price differences. I saw a nice looking 1886 ANACS DMPL MS65 for for $265. Then I saw a 1886 DPL MS65 graded by NGC go for$500. Does ANACS use different standards? Why do they go for less? Has anyone tried to cross an ANACS DMPL to NGC or PCGS?

Bear

Merc - Grading companies can use different standards for gradind PL and DMPL. Just as the

grading companies differ on Deep Cameo on quarters, halves,dimes ect ect. In addition, even DMPL

from the same grading company can differ in price depending if it is a low end, average or high end

for the DMPL Classification. A true Black and White high end Morgan Dollar, can go for many times

the money that a low end DMPL can go for. Top quality always goes for top dollar.

coinkat

My experience with DMPLs among PCGS, NGC and ANACs has been positive... there have been some inconsistencies over the years among the services. If the ANACs coin is nice and has good eye appeal, it should be considered. I'm not so sure I would crosssover because if you truly like the coin in the ANACs holder, thats what is important.

CalGold

ANACS DMPLs often bring less money than PCGS and NGC for a number of reasons. First, there is a fairly widely held feeling that many ANACS dmpls would only rate a PL designation from PCGS or NGC. Also, a lot of ANACS dmpls on the market seem to be scruffy, toned, and fingerprinted. So you will need to take a good look before you buy.

Now, considering that ANACS dmpls sell for less than PCGS and NGC coins you have to ask yourself why anyone would send a really nice dmpl to ANACS for grading, when it would be worth more on the market in a PCGS or NCG slab. The answer is often that the coin would not make into a dmpl holder at the other grading services.

CG

coingame2000

Merc,

For the most part ANACS DMPL dollars are not as strictly graded as PCGS or NGC. Many are overgraded by a full point or two not only due to excessive abrasions but also hairlines (that ANACS doesn't seem to pick up on) that are a result of cleaning, which is evident on many coins I've examined in ANACS holders. I occasionally encounter a really nice DMPL dollar in an ANACS holder on the bourse floor and/or in auction and they usually command a price comensurate with quality. If you're a beginning DMPL collector I would encourage you to stick with PCGS or NGC coins, preferably PCGS because I think they're stricter in terms of what qualifies as a DMPL.

Mike

Merc

I attended Randy Campbell's (ANACS grader) talk on the DMPL dollars at the FUN show last month. That is what got me interested in starting the DMPL's. He showed ANACS also uses UDM for the very best DMPL dollars. His report show only 147 coins received MS65 UDM. After his talk, someone asked why ANACS DMPL coins go for less. That had to be embarrassing He answered you have to look at the individual coin and price it for its own merits -basically buy the coin and not the holder. He didn't give any more details than that.

michael

reread mikes coingames2000 post again he sums it up very well

mike has been in the business of dmpl coins i would say for 3 decades!!

his specialities are dmpl and early toned commems!

sincerely michael

lava

Congratulations Merc on choosing dmpl morgans. I have the same interest, although I also collect pl morgans. I have about 200 or 250 slabbed morgans, probably 65% PCGS, 20% NGC and 15% ANACS, and one SEGS (made an exception). Here are a few rules I live by, and maybe they will help. First, I stay away from anything other than the big 3 graders, including no raw coins. Second, go with PCGS if all other things are equal, with first generation slabs the most desirable, the current blue slabs the second most deisrable, and the green slabs the least desirable. Third, buy the coin and not the slab. Fourth, recognize all the grading companies make mistakes, so learn what you are looking at and trust your knowledge. Fifth, where possible, buy from people knowledgeable in the area of dmpls and pls. Sixth, study study study the population reports to determine scarcity. I humbly say I understand pl and dmpl scarcity as well as anyone. You will find bargains not reflected in any price guide (greysheet, PCGS, Heritage archives, whatever). You will also detect how the registry systems have shortcomings. For instance, at NGC, an 1883-S in au58 merits 3 points, whereas an au58pl merits the same 3 points. That is a tough coin in non-pl, and even tougher in pl. With all these thoughts in mind, I think PCGS is the most conservative grader, and generally tends to correctly designate pls as pls, and dmpls as dmpls. NGC may be better than ANACS in correctly assigning a grade of 63 vs. 64, or 64 vs. 65, but NGC too often makes a mistake desingating a pl as a dpl, or designating as pl a coin that is not fully pl (need full cartwheel relfectivity on obverse and reverse). In my opinion ANACS is more accurate in designating pls and dmpls. When considering what to pay, it all boils down to eye appeal. It also boils down to value, and getting the most for your dollar. I concluded that I would rather have a 66pl vs. a 65 dmpl, or a 65 pl vs. a 64 dmpl. Usually these prices are in the same ballpark, but the higher grade in pl offers a little better eye appeal (to me) because you still get a mirrored look but you jump a grade. I think pls and dmpls offer one of the greatest values in coins. Happy collecting, and good luck with the dmpls!

northcoin

lava- a great post. How accurate or reliable to you find the price guide on this board (Collectors Universe) to be when it comes to the value of PL's and DMPL Morgans? Is there a most reliable internet source for identifing combined pop reports of same from ANACS, PCGS and NGC together? Whenever I drop into a coin shop I haven't been to before I usually ask to see their DMPL's and generally they don't have much to look at. Apart from EBay do you have any recommendations on dealers who list their coins on the internet who have a good supply of DMPL's?

lava

Northcoin, I wish I knew of more dealers with dmpls in stock. I have a hard time finding coins. There just aren't that many around. The dealers featured on PCGS are the best bets, such as Heritage and David Lawrence. Some of the other dealers get dmpls every know and then, so it is really hit or miss dumb luck when you find one. Ebay is pretty good, except you don't know who you are dealing with. Don Rinkor always has some nice coins posted on his site. In a shameless bit of self-promotion, I am working on an ebay store called "Prooflike Morgan Dollars" with 44 pl or dmpl morgans coins currently listed. Happy hunting.

michael

ttt