Morgan silver dollar question. Help!

jogbill

O.K. Right up front I'll admit it. This question will demonstrate my ignorance of Morgan silver dollars.
I've got a couple of 1885 Morgan's (possibly proof). When I looked up pricing at the PCGS website I noted that there are 3 varieties: 1885, 1885 PL and 1885 DM. What does PL and DM stand for?
Thanks.
Bill

DennisH

PL = Prooflike (reflective, mirrorlike surfaces)
DM = Deep Mirror or DMPL (Deep Mirror Prooflike)

DorkGirl

If you have a couple of proof Morgans, #1---you are a very lucky fellow!!! #2--you are looking at the wrong price guide. I just peeked at it, and there are no proof prices on that guide. My old price guide says $5500 for a PR65.( I think that's too high, but with the right color, they could go even higher) The chances are that they are not proofs, but if you could give us a peek at them, someone might be able to let you know the grades. Can you post a pic for us? I would love to see them!!!

alergar

Hey jogbill,
There are actually 4 types:
Circulation Strike
Proof Like Circulation Strike = PL
Deep Mirror Proof Like Circulation Strike = DM (PCGS slab will say DMPL)
and Proof strike

If the coins you have are Proof Morgans make sure you're looking at the right place on the price guide as proof coins have a much higher value than circulation strike coins. Proof Coin prices are shown on about the bottom 20% of the daily price guide. If you print out the daily price guide for Morgan Dollar the prices for Proof Strikes will be on the last two pages. An example of price difference by type from the daily price guide would be an:

1878-P MS60 $115.00
1878-P MS60 PL $120.00
1878-P MS60 DM $125.00
Proof 1878-P MS60 $1300.00

Morgan dollar price guide

Ooops, I made a mistake there are actually 5 Morgan dollar types: The fifth type are the Proof strike Branch Mint coins designated as BM they are shown at the very bottom of the daily price guide and the rarest Morgan Dollars.

DorkGirl

Thanks for pointing that out alergar, you can tell that I don't use their price guide, didn't go far enough down to find the proofs

jogbill

I'd love to post pictures but I've never done it before. I could take the coins out the the 2x2 holders and attempt to photograph them with a digital camera. Is that the proper method?

Also: thanks to everyone who responded. Now I'm a little lesss dumb!
Bill

DesertRat

Thanks for asking the question! I thought I was right in the definitions but was not 100% sure. Now I too am edumakated.