Compare these Morgan MS64+ DMPLs
dragonwalker
Posts: 16 ✭
I’m looking for a DMPL CC Morgan. I prefer sticking to a common date variety since it’s more within my price range. The 64+ grade is interesting in that it falls between two grades that see a significant price increase, so in my mind, there is more potential for it to be more easily regarded as a higher grade by the right person. There are also far fewer of the + grade, so a bit of artificial rarity is generated. With that said, I have found 2 of them which are interesting. One is a PCGS and the other an NGC.
Can someone with a better eye for this tell me if they feel the coins are accurately graded? Both have a TrueView. To me, the NGC looks significantly better. The NGC however I see something unusual along the cheek that looks to me like a die crack (I’m not really sure) and there appears to be several hazy areas under the neck and in the fields of the reverse (however I’m not sure if there is anything to it, it could just be that I’m not experienced enough to tell properly). The obverse of the PCGS appears to have a lot of bag marks on the cheek, above the eye, and neck, which surprises me that it still grades at this level.
It's difficult to find comparative pricing since there are very few 64+ that sell. Searching through PCGS prices, I found one on eBay selling on 7/2024 that sold for $810, and I saw several that last sold in 2022 but range in price from $690 to $1400, all within 1 month of each other!
The PCGS has a BIN, which in theory might be lower if I go in person to buy it. The NGC is an auction ending in 2 days, and I wouldn’t be able to see it before buying, as it is also sold by a private person, while the PCGS is sold by a store/dealer. Is the PCGS priced right for what it is, and what could be a fair price on the NGC?
https://www.ebay.com/itm/177530230676
https://www.ebay.com/itm/277524193596
Comments
Are you certain they both have TrueViews? The PCGS coin does, but not the NGC coin. If given the choice between the two, my opinion is that I would rather own the PCGS graded coin because it appears to have a heavier cameo frost throughout, but we have to keep in mind that the images were acquired under different camera and lighting setups.
In honor of the memory of Cpl. Michael E. Thompson
Apologies, when I mentioned "TrueView" I know that is the name of the PCGS service but I was using it to describe the enhanced photographic service offered by the both companies and to let people know the NGC coin was photographed by NGC as well. Do you have an opinion on how accurately either coin is graded?
Here is some more pricing.
eBay
Mar. 7, 2025 - 1883 CC Silver Dollar PCGS MS64+DMPL Beautiful Coin! - $980
GC
Thanks! It looks like recent pricing is more conservative than I initially believed and much closer to MS64 pricing. With that said can anyone comment on whether my theory on 64+ pricing makes sense? Also, generally speaking at this time for Morgans are we in a buyer's market or seller's market?
Rinkor is THE guy for DMPL Morgans. They have an online store so you can see their whole inventory. You can also call Mike and ask about the coin. He will be honest with you.
I don’t love either coin. The PCGS one has greater contrast but the NGC coin is cleaner. I think you are getting a little hung up on price. Don’t worry about the market either. You’re not going to miss a great opportunity and the prices aren’t going to crash after you buy it. Focus on the coin. DMPLs can trade in a wide range based on eye appeal. If you mostly care about getting a good deal, you will likely end up with a mediocre coin.
I really like the NGC coin..
As to your theory (copied below) on 64+ pricing making sense…
Any grade other than the lowest and highest on the grading scale could be said to fall between two grades. For example, while a 64+ falls between 64 and 65, a 64 falls between 63+ and 64+.
“The 64+ grade is interesting in that it falls between two grades that see a significant price increase, so in my mind, there is more potential for it to be more easily regarded as a higher grade by the right person.”
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Thanks for the feedback on this particular dealer. I may call them and ask to speak to Mike. I did go on their website and interestingly I noticed their coin sold for more than their eBay price so I may call to clarify that. I also saw they previously attended the Long Beach show so I might hold out to see it in person there.
Regarding me getting hung up on price. If not for the price then it would be easy to find the best coin out there according to the graded label and buy it. It’s the price that makes certain coins more or less appealing especially because grading has an element of subjectivity compounded by the fact that the coins are being sold online where it’s even harder to judge quality equally. As @TomB mentioned, pictures of both are taken very differently. It appears the NGC coin was photographed with a phone at an off center angle for example. I’m sure I’m not the only one that noticed this and I think this may ultimately impact the price this coin sells at. On the other hand the seller might have intentionally taken a picture this way to conceal a defect.
Has anyone looked at the photo taken online of these coins by PCgS and NGC?
This reminds me of gambling where in Blackjack, the dealers payout for BJ actually impacts the odds. For coins, if I buy a coin (kind of like gambling) lower than its stated/perceived value I’m increasing the odds that I could be getting a better value. There will always be a better coin out there and I think part of the game is maximizing at these market inefficiencies. I’m sure successful dealers are great at it.
@dragonwalker are you planning to bid on either of these coins?
In my opinion, the PCGS coin is a bit chewed up to be in a 64 holder, let alone a 64+. The NGC coin looks about right as a 64. The PCGS coin may have slightly better contrast, but not by much.
For clarification, the NGC star designation is applied for coins they believe to show exceptional eye appeal. In this case, that is likely due to the contrast. The star DOES NOT equal a plus.
Sounds like I got someone interested ... I'm not sure but it's unlikely, given the feedback I'm hearing from people I would feel much more comfortable looking at the coin in person where I think I could get a better deal in anyway which rules out the possibility of the NGC coin and waiting till a show near me for the PCGS. Let me know if you do end up buying or winning and let me know how the coin turned out.
That's exactly my thought and I'm glad someone else sees it that way as well. Thanks for clarifying the star about the NGC coin. It looks like it's a special designation for eye appeal and they do offer another "+" designation so it's technically in a lower tier.
The NGC coin, to me would be the one to keep my eye on. Of course depending on price.
I personally think it should go for a bit more than the PCGS Example.
If asked what I would grade this I wouldn't go above 62-3
This I think is pretty well graded