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<p>[QUOTE=&quot;GDJMSP, post: 896709, member: 112&quot;]The answer to your question is quite simple, it&#039;s a matter of die states and planchet preparation.</p><p><br /></p><p>The Morgan planchets were all basically prepared the same way - good, quality planchets. But the dies tell the tale.</p><p><br /></p><p>DMPL&#039;s were the first coins off the dies. PL&#039;s came next and the regular, frosty Morgans came last. As and the dies wore, the level and quality of frost diminished with that wear.</p><p><br /></p><p>Toning of course happened after the coins left the mint. But - you knew there was gonna be a but didn&#039;t ya ? - because of the nature of luster, toning is most often found on the regular, frosty Morgans. And also because there&#039;s a whole lot more of them than there are DMPL&#039;s and PL&#039;s.</p><p><br /></p><p>As for this comment - <i>&quot;It&#039;s interesting but I cannot think of another series of US Coins that has so many DMPL examples.&quot;</i> - just about every other series minted during the Morgan time frame can be found in DMPL and/or PL. But, you are correct, you don&#039;t find as many of them.</p><p><br /></p><p>A large part of the reason why is because the other denominations circulated - Morgans did not. Morgans spent most of their lives sitting in $1000 bags in some bank vault. So the DMPL and PL examples retained their qualities. With other denominations, because they circulated, the DMPL and PL examples were, well, circulated and they lost their qualities because of it. Only a few were saved and put away. And those are the few we see today.</p><p><br /></p><p>Had they been stored in bank vaults, untouched like the Morgans, then the DMPL and PL examples would be just as common as the Morgans are.</p><p><br /></p><p>And since you mention the Peace dollars, the dies were simply not prepared the same way. The devices in the dies were not frosted. The devices on Morgan dies were frosted just like modern day Proof dies are frosted. And the fields on the Peace dollar dies were treated differently too. They intentionally were given a more satin like finish, a smoother finish, than the dies of the Morgans. And that&#039;s why the luster on Peace dollars is so different from Morgans. It&#039;s also why Peace dollars don&#039;t tone like Morgans. The type of luster a coin has is what determines how that coin will tone when all other things, meaning environmental conditions, are equal.[/QUOTE]</p><p><br /></p>

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