It shouldn't make any difference at all. With properly wired phantom power, both legs are at 48V and no current flows though the mic coil.

Plugging a dynamic into a live phantom powered connection will not cause current to flow either, except a tiny amount for a few microseconds if one connector makes contact before the other, but only enough to charge up the capacitance of the cable, which really isn't much.

I'm more wary of plugging a condenser mic into a phantom powered socket - ideally you should plug it in first, then switch the power on. In practice it's usually harmless, but some manufacturers advise against it in their instructions.