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<p>[QUOTE=&quot;calcol, post: 3757113, member: 77639&quot;]One would think that Philly mint coins would be less likely to get a PO01 grade than branch mints.&nbsp; Of course they have no mint mark to begin with.&nbsp; So a grader has to convince themselves that if a mint mark had been there originally, it would have been readable.&nbsp; In other words, they have to be positive about a negative.</p><p><br /></p><p>In the case of Morgan dollars, the mint mark would be below the bow of the wreath on the reverse, so presumably wear (or lack of it) on the bow and adjacent wreath parts would be the determining factor.&nbsp; Looking at the PCGS pop report for Morgan dollars, it appears that graders err on the side of caution in this.&nbsp;&nbsp; Yes, there are PO01 coins for the Philly mint, but for many years, branch mint PO01s are more numerous.&nbsp; There are other potential factors in this: 1. original mintages, 2. survival in general, 3. protected survival (e.g. being stored in government vaults), 4. hesitancy to submit for grading a worn coin with no mint mark (was it from the Philly mint or has mint mark worn away?).</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>

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