DMPL Morgans - in bubble territory?

dan1ecu

Hi, Everybody -

I was looking through some prices realized at Heritage for DMPL Morgans. It seems that these have gone WAY up in price just within the last couple of months. Apparently there's quite a demand for them.

What's the deal? Are the type collectors driving up prices, or are the price increases due to activity among dealers? Are coin collectors in general as excited about DMPL's as prices would seem to indicate, or are there other factors driving this segment of the coin market? What do you think?

Dan

CarlWohlforth

I don't think it is type collectors. There seems to be a bunch of people putting together DMPL sets. Type guys could go for a higher grade non-DMPL. And maybe there are a few DMPL collectors who are looking exclusively at Heritage? I've seen a few on eBay go for ask or less

ziggy29

I think the registry sets have created increased interest in collecting DMPLs by series. I don't think type set collectors often care; it's not like they can aspire to put an all-DMPL type set together.

KollectorKing

ohhhh....LAURA, where are you to provide an answer or two or three to this very important question?

michael

hmmmmmmmmmmmmmmmmmm

michael

morgannut2

There are a number of Morgan collectors either putting together either PL/DMPL PCGS registry sets, and others going for gem Dmpls just on beauty. Also there are, according to Laura, a number of foreign investors lined up for white-only gem Dmpls. Here's the logic: For more than 2/3 of the Morgan series, the coins are fairly common. And if you want to go for "rare" low-pop " dates in MS 66-68 then your talking millions of dollars for the set. By focusing on MS 63 through MS 66 Dmpls and Pl's, you can put together a partial set of very rare Morgans with many of your coins having population of less than 50 to 200. Here's an illustration: I bought some time ago a gem quality 1885-S in Pl for a few thousnd dollars. It's a beatiful original coin with nice watery clean mirrors having around 4" reflectivity. The population of this example at PCGS in GEM is a total of 9 coins in PL and just one known Dmpl! For comparison ( Ok, a bit extreem) there are maybe just over 50 1892-S Morgans in PCGS uncirculated. With a pop of about 50, these guys start around $50,000 and quickly zoom to over $100,000! So if one wants to put together an attractive set of Morgans that are not just the everyday plain-jane type of coin, and you don't have a hundred thousand dollars for the keys in unc., one way to go is Dmpls and Pl's. that are rare and attractive, then buying the keys (w/o 93-S) in AU-58. And you get a head-start with all the GSA CC's which are widely promoted in Dmpl. That's my take on the inreased prices.

dorkkarl

the deal is, a lot of people are stupid and are seduced & suckered in by flashy metal objects.

one blast-white dmpl morgan looks just about like the next, yet some people gotta own 'em by the truckload.

K S

jbsteven

did somebody say DMPL or PL Morgans? Here are a couple from my collection.

morgannut2

Those are magnificent although I'm worried that Mr. DorkKarl has implied I have the intelligence of a fish that likes small "flashy objects" for admiring them!!! I've never seen a Miller' Dmpl or PL that wasn't uniquely beatiful.

morgannut2

Those are magnificent JB !!! The Miller' Morgan Dmpl's and Pl's speak for themselves in terms of their unique beauty and eye appeal.

dorkkarl

<< <i>Those are magnificent although I'm worried that Mr. DorkKarl has implied I have the intelligence of a fish that likes small "flashy objects" for admiring them >>

hey! notice the context of my comment, which is where dan1ecu stated "these have gone WAY up in price just within the last couple of months". i'm referring to stupid people as the 1's who pay stupid $$$!!!

K S

dorkkarl

i actually like those miller plate coins.

(although i only drink anheuser-busch products)

K S

jbsteven

thanks guys

morgannut2

Ok I agree dorkkarl both about the beer and the silly price increases. For example an 1884-CC in Dmpl has literally doubled in price in the last three months. With over 90% of the GSA 1884-CC's still ungraded in terms of being Dmpl or not, I would be a bit worried about these coins as a long term investment. I collect based on my own idea of eye appeal, and am not really concerned about the 1885-S in PL ( PCGS pop 10), that I posted as an example however.