DecimalField should not use float to store its values. It is crucial to never use float for Decimal as it is often used for financial tasks.
I suggest to use Int and precision metainfo somewhere nearby.
DecimalField was a contributed field - I'm more than happy to take a PR to improve it
FWIW, a new Decimal type was added in MongoDB 3.3.8 / pyMongo 3.4.
Nov 29, 2016: Newly released Mongo DB 3.4 adds decimal data type. It would make sense to use it when using Mongo DB 3.4.
@lafrech any plans for implementing this native NumberDecimal type?
I highly suggest to add big warning to docs about Decimal - Float conversion.

As far as now it completely loses precision I would suggest raising NotImplementedException in order to prevent data loss.
Explanation merged into master
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As far as now it completely loses precision I would suggest raising NotImplementedException in order to prevent data loss.