Market Matters

Proofl ike Surfaces

Deep Mirror Proofl ike (DMPL) PCGS designates Deep Mirror Proofl ike for Morgan Dollars that grade MS60 or better and show deep refl ectivity, i.e. deeply mirrored surfaces. Th e diff erences between PL and DMPL is one of degree.

No Grade Coins PCGS does not grade coins that are counterfeit, have been artifi cially toned, have had their surfaces altered, have been environmentally damaged, have been abrasively cleaned, have extremely large scratches, or have been repaired. Some allowances are made for ultra-rarities, Colonials, and Territorial gold coins, in which there are some instances when “net grading” is used by PCGS as a service to the numismatic community. PCGS Holder

No Grade coins are returned to the submitter with encapsulation.

Code Reason

82 Filed Rims 91 Questionable Color 92 Cleaning 93 Planchet Flaw 94 Altered Surfaces 95 Scratches 97 Environmental Damage 98 Damage No PCGS Holder

No Grade coins are returned to the submitter without encapsulation.

Code Reason

83 Peeling Lamination 86 Authenticity Unverifi able 90 Counterfeit 96 No Service 99 PVC Residue

Would you like further information about the PCGS Grading Standards, Designations, and No Grade Standards? View high-resolution images and in-depth videos for each at www.PCGS.com/grades. For PCGS Banknote grading standards visit www.PCGS.com/banknote/grades. Cameo Proofs

Cameo (CA M) PCGS designates Cameo for brilliant proofs that show light to moderate frosting of the devices. Both sides of a coin must have frosted devices to earn the Cameo designation. Deep Cameo (DCA M) PCGS designates Deep Cameo for brilliant proofs that display deep, even frosting on the devices of both sides of the coin.