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DMPLs Are Hot
 | By Harry Miller, Coins Magazine
August 14, 2008 |
The market in DMPL (deep mirror proof-like) Morgan dollars is just plain insatiable. Prices have been continually moving up and demand keeps increasing.
The generic side of the market continues the softer trend that we saw last month with common-date gold losing much of its premium over melt. Common date $20 Saint-Gaudens in Mint State-63 are only a little more than $100 over the bullion price and MS-64s about $150 higher. These are really very good buys at those lower premiums provided gold remains near current levels.
There are higher prices on most key and semi-key Lincolns. In a recent conversation with a contributor, a very interesting probability came up regarding the 1924-D cent. We have both noticed many 1924-D cents with weak mintmarks and there is the feeling that this date may have had some of the problems we encounter with the 1922-D issue, which resulted in the rare 1922 plain.
I have often wondered why the 1924-D always seems to show up less frequently than the mintage and age would suggest as compared to other similar issues. This would make a very interesting study for someone with the time and energy. The first Lincolns of 1909 are disappearing in large quantities to be used in the upcoming 100th anniversary sets. The 1909 Indian Head cent is also enjoying the ride with prices in Good-4 topping $13.
Early Mercury dimes are hot in very Fine to uncirculated grades with the elusive 1921 issues leading. Even the early Philadelphia issues have just plain dried up in Brilliant Uncirculated. The rather inexpensive 1929-D is nearly impossible to find in nice BU grades. This is a sleeper.
We have again seen numerous increases in early type issues of all denominations with really nice fully1 original examples bringing well over current coin market indications. The current rule in the market is if it's real nice, a 20 percent, 30 percent or even 50 percent premium may not be too much. This is the one area where I believe grade rarity really does count, unlike modern MS-66 to-70 issues.
I close with a little repeated warning: Watch out for those fake dollars coming out of China. Many are quite good and even will be worn and dirty and even damaged or chop marked to make them look more original.
E-mail harrymkrause@optonline.net, or write P.O. Box 100579, Cape Coral, FL 33910-0579.
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