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An excellent article on DMPL Morgans

Hope you enjoy as much as I did.



Link to article
Michael

Comments

  • BearBear Posts: 18,953 ✭✭✭
    This is truly a worthwhile and very timely article on the

    DMPL market. It does appear to have opportunities for

    astute collectors. A caveat however. Recently PCGS has

    appeared to have tightened its criterea for the DMPL designation.

    This is a long overdue improvement abd they are to be

    complemented for doing so.



    The problem is that now the collector is faced with two

    catagories of DMPL PCGS Morgan Dollars. The old 6+ inch

    reflective fields and the new 8 inch and better reflective fields.

    When buyingDMPL Morgans, be sure , if you are paying

    top dollar for a specimen, that it is a full 8 inches or more

    in reflectivity. Anything less is actually a PL only, by the new standards.

    This would advise that novices as well as advanced collectors

    utilize the knowledge and skills of credable specialist dealers,

    to advise them on their purchases. Really top of the line DMPLs are getting

    scarcer by the day, and the specialist dealers seem to know the nooks

    and crannies that hide the real gems.Certainly, Mike DeFalco is one of

    those old time specialists.

    As Mikey always says, "I'M older then dirt"image
    There once was a place called
    Camelotimage
  • BearBear Posts: 18,953 ✭✭✭
    image
    There once was a place called
    Camelotimage
  • lavalava Posts: 3,286 ✭✭✭
    See my signature line. image I get it!
    I brake for ear bars.


  • << <i>This is truly a worthwhile and very timely article on the

    DMPL market. It does appear to have opportunities for

    astute collectors. A caveat however. Recently PCGS has

    appeared to have tightened its criterea for the DMPL designation.

    This is a long overdue improvement abd they are to be

    complemented for doing so.



    The problem is that now the collector is faced with two

    catagories of DMPL PCGS Morgan Dollars. The old 6+ inch

    reflective fields and the new 8 inch and better reflective fields.

    When buyingDMPL Morgans, be sure , if you are paying

    top dollar for a specimen, that it is a full 8 inches or more

    in reflectivity. Anything less is actually a PL only, by the new standards.

    This would advise that novices as well as advanced collectors

    utilize the knowledge and skills of credable specialist dealers,

    to advise them on their purchases. Really top of the line DMPLs are getting

    scarcer by the day, and the specialist dealers seem to know the nooks

    and crannies that hide the real gems.Certainly, Mike DeFalco is one of

    those old time specialists.

    As Mikey always says, "I'M older then dirt"image >>




    Thanks for the kind words Bear -- and yes, I am older than dirt!!! REALLY!!!

    Mikey
    DE FALCO NUMISMATIC CONSULTING
    Visit Our Website @ www.numisvision.com
    Specializing in DMPL Dollars, MONSTER toners and other Premium Quality U.S. Coins

    *** Visit Mike De Falco's NEW Coin Talk Blog! ***
  • HadleydogHadleydog Posts: 1,586 ✭✭✭
    Great article, and yes I like dmpls too! image
    image
    image
    image
  • FletcherFletcher Posts: 3,294
    Great article ... and, OMG!!! I am actually collecting something that isn't immediately dropping in price!!!
  • Bruce, Those DMPL's are gorgeous
    Michael
  • MercMerc Posts: 1,646 ✭✭
    Some of the article is right out of Wayne Miller's Morgan and Peace dollar book.
    Looking for a coin club in Maryland? Try:
    FrederickCoinClub
  • CoxeCoxe Posts: 11,139
    That is a good article. I wrote a white paper once taking a similar approach in capitalizing the Morgan dollar market. The author, Mike De Falco, is a really nice guy who sold me one of the key PLs in my set.

    Alas, though, we continue to wait for PL/DMPL dollars to trend to their fair valuations. I still maintain, despite recent years' gains, they are overall vastly undervalued. Hope they come up before my set goes to market.
    Select Rarities -- DMPLs and VAMs
    NSDR - Life Member
    SSDC - Life Member
    ANA - Pay As I Go Member
  • Great article, good data to have on hand.


  • << <i>Some of the article is right out of Wayne Miller's Morgan and Peace dollar book. >>



    Merc: And your point is? If you care to review the ACKNOWLEGEMENTS (page xi) in THE MORGAN AND PEACE DOLLAR TEXTBOOK you will discover that I am listed as a contributor. If anything sounds vaguely familiar it's probably due to the fact that I collaborated on that particular topic (i.e., the three major types of deep mirror prooflike dollars). In truth, my article came from my brain and is a result of the fact that I possess more than THIRTY-THREE years experience buying, selling and studying DMPL dollars -- and was one of the early pioneers in this area of numismatics. If you dig some more through the Wayne's book you will also find my name mentioned a few more times. Moreover, I (all by myself) authored another article on DMPL dollars for the September 1997 issue of the COIN DEALER newsletter MONTHLY SUPPLEMENT, in addition to numerous other articles for that publication beginning in 1984 with an piece titled SILVER COMMEMS, The Changing Of The Guard. Oh, I forgot to mention that I wrote the monthly newsletter MARKETWISE from 1981 through 1987, was a MAJOR contributor (actually I wrote more pages than anyone else) to Dr. Gary North's Rare Coin Investment Manual as well as the author of THE COINGAME, Playing For Profits -- Not Promises (again, all of this accomplished using my own brain). Hopefully, this will assure you that I am more than capable of authoring an original article pertaining to DMPL dollars. If not, I can provide more references, LOTS MORE REFERENCES!!!

    Mike De Falco
    DE FALCO NUMISMATIC CONSULTING
    Visit Our Website @ www.numisvision.com
    Specializing in DMPL Dollars, MONSTER toners and other Premium Quality U.S. Coins

    *** Visit Mike De Falco's NEW Coin Talk Blog! ***
  • stmanstman Posts: 11,352 ✭✭✭✭✭
    Hey tough guy, Mike De Falco (coingame 2000) and YOUR point is?????

    imageimage Chill out ol' man!!!! Your friend the grump. Heh
    Please... Save The Stories, Just Answer My Questions, And Tell Me How Much!!!!!
  • Steve, you know I'm a grumpy old man...

    Mikey
    DE FALCO NUMISMATIC CONSULTING
    Visit Our Website @ www.numisvision.com
    Specializing in DMPL Dollars, MONSTER toners and other Premium Quality U.S. Coins

    *** Visit Mike De Falco's NEW Coin Talk Blog! ***
  • lavalava Posts: 3,286 ✭✭✭
    I find that studying the pop reports together with the price guides leads one to conclude that these coins (pl and dmpl Morgans) are very rare and are undervalued.

    Mike, I liked your analysis, but I wish it included discussion of other grades, since ms65 dmpls are virtually non-existent in the market for many dates, and cost prohibitive, but your general ideas hold up well for 65pls, 64dmpls, etc.

    Let me throw some facts out re: pls.

    PCGS has graded approximately 10,327 Morgans in ms65pl. More than 50+% of those fall into just 3 years, the `79-s, the `80-s and the `81-s.

    6 more years account for another 20+%, being the `82-cc, `82-s, `83-cc, `84-cc, `87 and `04-o.

    10 more years account for nearly another 15%, being the `78-s, `80-cc, `81-cc, `83-o, `84-o, `85, `85-cc, `85-o, `97-s, `98-o.

    So, the above-listed 19 years account for approximately 88% of the Morgan in ms65pl.

    Then, there is the wild card -- coins cracked out and resubmitted, and thus duplicated in the population census. How many coins that represents is anyone's guess. I would not be surprised if that number is in the hundreds. If it was, for example, 500, then that would account for approximately another 5% of the pl coins.

    Doing the substraction of the 19 years (88%) and the crack-outs (5%), that leaves approximately only 7% of the 65pl coins across approximately 80 different dates and mint marks. It you used straight math, which doesn't apply but does help gives some perspective, 7% would be approximately 721 coins, so that would leave about 9 examples for each of the 80 remaining varieties. Just looking at the 80 examples in 1888-o in 65pl indicates how skewed the 9 average is, since 8 years were have to have 0 examples.

    Just food for thought.

    The above analysis is roughly the same with regard to dmpls, with the percentages cut in half
    I brake for ear bars.
  • BearBear Posts: 18,953 ✭✭✭
    If it wasnt for Mrs Coingame, he would be even grumpier.image
    There once was a place called
    Camelotimage
  • lava,

    I fully intend to cover DMPL's in other grades (as well as PL's) in future articles. I'll probably tackle MS66 and MS67 DMPL's (from a pricing perspective) within the next couple of months because there's so little relevant information available in that regard. Other topics that are forthcoming will be a commentary on the Battle Creek coins and the upper end toned dollar market in general, a date-by-date analysis of both the Peace dollars and Oregon Trail half dollar series (not necessarily in that order) and whatever else happens to pop into my head. I really enjoy writing and plan to kick it into high gear again.

    Mike
    DE FALCO NUMISMATIC CONSULTING
    Visit Our Website @ www.numisvision.com
    Specializing in DMPL Dollars, MONSTER toners and other Premium Quality U.S. Coins

    *** Visit Mike De Falco's NEW Coin Talk Blog! ***


  • << <i>If it wasnt for Mrs Coingame, he would be even grumpier.image >>



    Bear, ain't that the truth!!! There's nothing like a good woman to keep you happy and on track (and I'm fortunate enough to have one).

    Mikey
    DE FALCO NUMISMATIC CONSULTING
    Visit Our Website @ www.numisvision.com
    Specializing in DMPL Dollars, MONSTER toners and other Premium Quality U.S. Coins

    *** Visit Mike De Falco's NEW Coin Talk Blog! ***
  • bestclser1bestclser1 Posts: 5,566 ✭✭✭
    Excellent article.Do the research and buy eye appeal as well,not only grade on holders.
    Great coins are not cheap,and cheap coins are not great!
  • TONEDDOLLARSTONEDDOLLARS Posts: 2,928 ✭✭✭✭
    Mike, Thank you for sharing your wealth of knowledge on these subjects with the rest of us.
    I could read articles like these all day long. I love to read but hate to right, so god bless for people like
    you who love to put pen to paper.

    Keep em coming , I'm sure others feel as I do

    TD
  • Thanks for the kind words TD. After a (self-imposed) hiatus from writing the last few years -- I'm back!!! And yes, I'll keep 'em coming.

    Mikey
    DE FALCO NUMISMATIC CONSULTING
    Visit Our Website @ www.numisvision.com
    Specializing in DMPL Dollars, MONSTER toners and other Premium Quality U.S. Coins

    *** Visit Mike De Falco's NEW Coin Talk Blog! ***

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