Morgan dollars are ubiquitous in the coin market, (we buy hundreds of them in various states of preservation each week in the New York City gallery). Because vast quantities are extant, there are numerous subsets that collectors can choose to pursue. Lot 95348 of our April 23 Collectors Choice Online Auction will check many boxes among these sub-specialties within the series.
Presented is a beautiful Gem 1884-CC with vivid, deeply prooflike surfaces, graded MS-65 DMPL by PCGS and approved by CAC. Prooflike surfaces appear on coins whose dies were recently polished. The first coins struck from these freshly polished dies will display reflective fields that, on truly special examples, can clearly reflect back an image from eight inches. Those coins are given the DMPL designation by the grading services. Over the years due to “gradeflation,” some marginal coins were called DMPL without having full eight-inch mirrors; this is where CAC approval is paramount, for many specialists. Looking at the population data, it is interesting to note that while PCGS and NGC have graded a combined 1,270 in MS-65 DMPL or finer, CAC has awarded its green sticker to fewer than 150 pieces.
The coin in question displays the deepest reflectivity, with thickly frosted devices that give a cameo-like appearance. Free from distracting marks, this coin has a great visual appeal. This is one of those Morgan dollars that checks all the boxes: Carson City Mint; Gem preservation; DMPL designation; and CAC approval.
