Philadelphia-mint Morgan dollars are extremely common through MS66 and becomes much scarcer in higher grades. However, there is a handful of survivors in the MS68 range, and these sell for huge premiums thanks to very tight pressure from registry set builders who wish to acquire these few specimens for their highly competitive collections. PLs and DMPLs are about equally scarce as the other, with both proving more challenging in the Gem range or better.
Obverse: Portrait of Liberty centered. On the left are found 7 stars with the words E*PLURIBUS*UNUM followed by 6 stars on the right. The date is positioned at the bottom.
Reverse: The heraldic eagle is centered holding a bunch of arrows and branch surrounded by and olive leaves. The words UNITED STATES OF AMERICA * ONE DOLLAR frame the periphery. Mint mark, if any, appears above the letters DO of DOLLAR.