US Coins

Market Analysis: 1879-CC Morgan dollar shows role of reflectivity in PL tag

Professional Coin Grading Service and Numismatic Guaranty Co. use the Prooflike designation to recognize Mint State coins that have clear reflections in the fields.

The term Prooflike, abbreviated as “PL,” was initially used on Morgan dollars.

PCGS explains that it uses the term for coins that grade MS-60 or better, show clear reflectivity and have mirrored surfaces that reflect at a distance of 2 to 4 inches. They add, “If the cartwheel effect or striations cause an area to lose clarity, the designation will not apply.”

Heritage sold an 1879-CC Morgan dollar graded MS-60 Prooflike by PCGS that also carried a green Certified Acceptance Corp. sticker on Feb. 9 for $7,500. Lots of marks on both the fields and devices limit the grade, but the reflectivity is clear, and it is the “Capped Die” variety. Heritage writes, “Die chips around the mintmark are widely regarded as an attempt to efface remnants of a Small CC mintmark undertype.”

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