Some say yes, we say no.
Fresh morels are fragile. They can crumble when handling, cleaning, and cooking. They cook more quickly and have a slightly more delicate texture. Their flavour is a little more musty or exotic. Fresh morels will keep about a week if conditions are ideal.
Dry morels are easy to handle. They rehydrate quickly, they do not crumble, they are much easier to stuff (if your’re chef’y like that). They are also cleaner. When you dry a morel they contract a little, causing sand, dirt, pine needles, poplar fuzz, moss, or other bits of nature to fall off. When you rehydrate them, any remaining bits of nature fall to the bottom of your soaking liquid. When using your soaking liquid in your dish, leave the last few tablespoons in the bowl. When you dry a morel you concentrate the flavour, think of raw versus roasted nuts (although a raw nut has also undergone a drying process). The flavours are quite different. When dried in the sun, the morel absorbs additional vitamin D, like the human skin, and we all can use a little more of that. Dry morels can be enjoyed all year long.
Time and time again, when eaten fresh vs dried with our fellow harvesters out in the bush, most prefer the dried. It’s a treat to eat fresh because it’s only possible for a short time each year, but there are food snobs that age their dry mushrooms like wine. Drier and older better? We think so, but decide for yourselves.