PCGS Updates Morgan Dollar Grading Standards

PCGS has announced updates to its grading standards for Morgan dollars, effective next month. The changes aim to address inconsistencies collectors have noted in recent submissions.

The primary adjustment involves strike quality assessment. Coins struck at the Carson City mint, historically valued for their relative scarcity, will now receive more detailed evaluation of their characteristic flat strikes. This change acknowledges that CC mintmarks alone shouldn’t determine premium value without considering overall quality.

Additionally, the grading service will implement stricter standards for coins previously dipped or cleaned. Market feedback indicated that some processed coins received grades many felt were too generous.

What does this mean for collectors? Existing grades remain valid, but new submissions may receive different assessments than identical coins submitted previously. Dealers recommend holding off on large submission batches until the new standards become clearer in practice.

PCGS competitor NGC has not announced similar changes, potentially creating temporary market confusion as collectors weigh the implications of different grading approaches.

The Morgan dollar market, valued at hundreds of millions annually, will absorb these changes over time. Experienced collectors know that grading standards evolve, and adjusting expectations accordingly protects both enjoyment of the hobby and investment value.