| Winning Lots from Auction #17 |
| Lot Image |
Lot Name (Lot #)
Description |
Price Realized* |
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1878 8TF VAM 5 PCGS MS63 (Lot 17001)
What a great way to start VAMquest Auction #17! Here we offer an MS63 example of the legendary 1878-P VAM 5, a variety that is not only a key component of the 8TF Set, but is also an important member of the TOP 100 listings. And the grade is not just MS63, its PCGS MS63! We recently got an email asking why this variety is so hard to find, and the answer is clear when you see the huge die crack that circles the obverse. Simply put, soon after this die pair was installed in the coining press, the obverse die must have broken while it was still striking coins with full Proof-Like surfaces! This gorgeous VAM 5 specimen will certainly be the centerpiece of someone’s first-rate VAM collection. |
$1,068.75 |
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1878 8TF VAM 18 PCGS MS63 (Lot 17002)
Here’s a case where the grade and the slab may be more important than the variety. Yes, the 1878 VAM 18 is not one of the major rarities of the 8TF Set, but have you noticed the market for any 8TF specimen in MS63 has skyrocketed over the last six or seven years. In the 1990’s, nice MS63 8TF examples were bought and sold around $50. Now the Greysheet lists them at $132 Bid/ $142 Ask, and believe me, that’s NOT for PCGS MS63 specimens! We’ve seen them run as high as $275. So, hand picked specimens appear to be quite a bargain at less than $150! This VAM 18 is not only super attractive, but it would probably be graded MS64 in most other slabs. |
$219.38 |
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1878 8TF VAM 21 PCGS MS63 (Lot 17003)
Like the preceding lot, the 1878 8TF VAM 21 offered here is considered by some investors to be an investment vehicle. The reason is that the value of a PCGS MS63 may not be fully recognized in today’s marketplace. To lump it together with MS63’s of most other grading services is a mistake, and yet that’s how many collectors still look at it. In any case, the cost of the PCGS slab ($25) and the attribution on the label ($20) plus postage and insurance total up to almost $50. Finally, take into account that all MS63’s are not created equal, and it’s easy to see that 8TF Morgan dollars in PCGS MS63 holders like this one may be a great way to go! |
$256.50 |
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1878 7/8TF VAM 39 NGC MS64 (Lot 17007)
Here’s the inside word regarding the 1878 7/8TF VAM 39 – It’s the only 7/8TF that has been selected for the upcoming HIT LIST 40. This variety, which shows five strong tips under the eagle’s tail-feathers, is very scarce in all grades. But what most collectors don’t know is that the VAM 39 is basically impossible to find in grades better than MS63 (which is the grade of this cataloger’s own specimen!). That makes this white lustrous MS64 specimen that much more desirable. |
$455.63 |
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1878 7/8TF VAM 45 PCGS MS61 (Lot 17008)
This rare coin came out of an MS62 “DMPL” holder, so not only was the final grade a disappointment, but also the lack of DMPL designation. In any case, like most 1878 7/TF VAM 45 examples, this one has highly reflective surfaces, which is not mentioned on the slab. Worth mentioning is our quick-and-easy method of identifying this super rare bird. If you see three diagonal die gouges running from K1 to K7 on the eagle’s tail-feathers, it’s a VAM 45. This one is so conservatively graded, that if all MS61’s looked like this, we’d start recommending MS61s! |
$354.38 |
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1878 7TF VAM 84 PCGS MS64 (Lot 17009)
If you find an 1878 7TF Morgan dollar with a B1 Reverse (Long Center Arrow Shaft), it’s more than likely a VAM 84. It is easily identified by the horizontal line under the first “8” of the date, and the broken “D” of DOLLAR on the reverse. The fact is that this variety is quite common in all grades up to MS63. Here is a PCGS MS64 specimen with a minimum of marks, but subdued luster on the obverse, and splotchy toning overlaying the reverse. Not my favorite coin! (Note: Price wise, the Greysheet lists any raw 78-P 7TF at $185 Bid/ $215 in MS64.) |
$135.00 |
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1880-S VAM 10 PCGS MS63 (Lot 17010)
Everyone agrees that the popular 1880-S VAM 10 is the top ’80-S overdate variety in terms of rarity. Indeed, this cataloger has often referred to it over the years as the “stopper” of the set. But only in the last few years when sets are being assembled has the collecting community recognized the VAM 10 for the rarity it is. To get some perspective, another VAM 10 in PCGS MS63 is currently listed in the catalog of a well known company for $250. Offered here is a high end, blast white specimen with solid detail and frosty devices for considerably less. |
$210.38 |
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1880-S Unattributed PCGS MS64 (Lot 17011)
The listing here as “Unattributed” is not exactly true. The obverse appears to be a III2-28 and the reverse is a C3-c. But who cares? This is a absolutely splendid PCGS MS64 specimen with few marks anywhere, that’s semi Proof-Like on both sides, and is super lustrous. Why isn’t it an MS65? You can buy the coin and tell us. And oh yes, the Minimum Bid is $1! |
$118.13 |
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1883-O VAM 4 ANACS MS61 (Lot 17012)
The TOP 100 listings included a number of Repunched Mintmark varieties. What that means is that a mintmark was punched into the die and then punched again to strengthen it, but this time out of register with the first. The result is that the final mintmark appears doubled. One of the best RPM varieties is the 1883-O VAM 4 offered here. The obverse shows some marks, but the luster is excellent. The reverse shows even, heavy toning. |
$56.25 |
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1884-P VAM 2A PCGS MS63 (Lot 17013)
The 1884-P VAM 2 is an interesting variety in its own right, as the strong “dash” under the second “8” in the date was used by the mint engravers to line up the date numerals correctly. But it’s the late die state, VAM 2A, that’s really a premier variety. Clearly, the obverse and reverse dies clashed with considerable force to produce an “E” on the lower reverse. In fact, clash marks abound on the reverse of the VAM 2A, and this explains its popularity with VAM collectors. This high grade specimen is in a PCGS MS63 holder. ‘Nuff Said! |
$230.63 |
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1885-P VAM 22 ANACS MS63 (Lot 17014)
Some varieties just capture the imagination of collectors on their own! Even when it wasn’t in the TOP 100 or HOT 50 listings, the 1885-P VAM 22 developed quite a large following. Originally it was designated the VAM 8, but the slightly doubled arrow shafts made it the VAM 22. In fact, the variety is so popular, that it was a “sure bet” to include it in the upcoming HIT LIST book. This specimen, with its white, lustrous devices, is certainly attractive. |
$258.75 |
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1886-P VAM 1A ANACS AU58 (Lot 17015)
In the 1996-P TOP 100 Book, the 1886-P VAM 1A and the VAM 1B comprised one listing. The thinking at the time was that they were related, since both had die gouges on or near the date. Although this did not turn out to be the case, both are still listed in the TOP 100. The VAM 1A offered here, which has a clear die gouge at the top inside of the “6,” is beginning to tone, but there’s lots of luster on both obverse and reverse. There are a few stray marks, and one hit on the eagle’s breast that might account for the AU58 grade, when most dealers would sell this coin as an MS63. |
$73.13 |
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1887-P VAM 12 NGC MS66 (Lot 17016)
No, the MS66 grade is NOT a misprint! Here is the highest grade of the “Alligator Eye” 1887-P VAM 12 that we’ve encountered. True, it’s one of the most common TOP 100 varieties up through MS64. But the population dramatically thins out in MS65, and then in MS66, the variety is rarely, if ever, obtainable. And best of all, this coin matches the grade on the slab in every respect! It is a breath-taking specimen with frosty, unblemished surfaces on both obverse and reverse. And as a super high grade “Gator Eye,” it would be an amazing upgrade for just about anybody! |
$393.75 |
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1887-O 7/6 VAM 3 PCGS AU58 (Lot 17017)
If you want a rare 1887-O 7/6 overdate for your collection and don’t want to spend a king’s ransom for it, then here is an exciting example that would fit into most Mint State collections. Nearly all coin show dealers would grade this attractive specimen as a Mint State coin, but PCGS graded it AU58. The luster is way above average, and the surfaces are outstanding. Rare in all grades. |
$234.00 |
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1887-S VAM 11 PCGS MS63 (Lot 17018)
Here’s one we haven’t offered before. It’s the 1887-S VAM 11, which has the same doubled “1--7” in the date as the VAM 4, but it has a different reverse. The difference is that under strong magnification the peripheral reverse lettering on the VAM 11 shows very slight doubling. But there’s no question that the attribution is correct, since this is the discovery coin! Solid for an MS63. |
$708.75 |
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1888-P VAM 26 PCGS MS64 (Lot 17019)
Most collectors would not be familiar with an 1888-P VAM 26, but they would recognize its importance as potentially part of the HOT 50 “Doubled Reverse” listings. The point is that the VAM 26 is not currently attributed by PCGS, but that could change in the future, since we anticipate the fomal inclusion of ALL “Doubled Reverse” 1888-P varieties dated into the HOT 50. Only the smallest marks here and there and nice luster. |
$146.25 |
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1891-S VAM 3 PCGS AU55 (Lot 17020)
We’d be willing to bet that if this coin were in a different slab, it would be graded MS63. And the buyer would most likely agree with the grade! In any case, this attractive example of the TOP 100 “Doubled Stars” variety is graded ultra-conservatively. The luster is full and creamy, the surfaces are frosty and Liberty’s cheek is clean, even for an MS63. Certainly, PQ for AU. (Note: The cost of slabbing this specimen at PCGS was (18+$20+$9=$46.) |
$73.13 |
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1900-P VAM 16 PCGS MS64 (Lot 17023)
There are two significant die states for the 1900-P VAM 16. The earlier state shows a doubled die reverse, due to the fact that in making the dies, a C4 Hub was used over a C3 Hub. The coin offered here is the first die state. Later in the life of the die, the area behind the eagle’s head developed an area of pitting. Both die states are part of the VAM 16 listing in the HOT 50. And needless to say, a PCGS MS64 specimen is especially important for inclusion in the PCGS Registry. |
$118.13 |
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1901-P VAM 16 ANACS XF45 (Lot 17024)
This cataloger, as the original discover of the 1901-P VAM 16, found it had the same “doubled ear” obverse as the VAM 5, but had a single Hub reverse. What this means is that instead of a C4/C3 Reverse, it simply had a C4 Reverse. Both VAMs are about the same rarity, although the VAM 16 may turn out to be a bit scarcer. In any case, the 1901-P is one of the highlight dates in the Morgan dollar series, so examples are particularly desirable. The coin offered here does have considerable contact, but lots of luster results in a solid XF specimen. |
$168.75 |
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1922-P VAM 2E ANACS AU50 (Lot 17027)
Here’s an interesting combination of variety/error features. How about a 1922-P VAM 2E, with its hallmark Die Break on the Eagle’s Wing, that’s also been struck on what’s called a “Laminated Planchet.” For those not familiar with this type of minting error, laminations occur when the 90% silver and 10% copper Planchet alloy is less than a perfect mixture. During the striking process, the result is that part of the Planchet surface then peels away where the metal is impure. In this case, a swath of damaged surface runs across the eagle’s tail-feathers through the DOL of DOLLAR. Interesting and one of a kind! |
$112.50 |
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1922-P VAM 8 PCGS AU55 (Lot 17028)
The 1922-P VAM 8 is something of a “sleeper” in the TOP 50 Peace dollar set. It’s not considered a major rarity, except when it’s time to find one, it’s impossible to find. Most importantly, this AU55 specimen is graded so conservative that most collectors would have trouble understanding why it’s not labeled a Mint State coin. This example is outstanding, Super luster, few if any significant marks, and frosty surfaces combine to make this one quite exciting! |
$157.50 |
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1922-D VAM 2A ANACS AU50 (Lot 17029)
The 1922-D VAM 2A is an impressive R-7 variety, with a mind-boggling die break at the R of LIBERTY above Liberty’s cap. It’s not just a glorified die crack, but rather a portion of the die face broke and then sank below the level of the rest of the die surface. The result is a raised area on the struck coins. And there is evidence that much of the obverse die face was breaking, as well. Now, that’s a late die state! Light wear and considerable luster remains. |
$140.63 |
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1923-D VAM 1H ANACS AU58 (Lot 17030)
Over the past five years, the 1923-D VAM 1H “Pony Tail” variety has developed a huge following, even though it’s not in the TOP 50 listings. Many say it should be! The fact is that dramatic die breaks on Peace dollars lead the market, and this variety is certainly an exceptional one. Surprisingly, AU58 is a high grade for this R-6 variety. |
$236.25 |
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1924-P VAM 5B ANACS MS64 (Lot 17031)
Years ago, the story started off simply enough. A major die break was discovered on the reverse of a 1924-P Peace dollar and Van Allen/Mallis designated it the VAM 1B. Much later it was found that the VAM 1B obverse was actually a doubled die, so it was assigned the next available VAM Number. The early die state became the VAM 5 and the die break became VAM 5A. Fast forward to a few years ago, when VAM 5 specimens came to light with extensive die polishing lines on the reverse. These became the VAM 5B. The MS64 coin offered here is the actual discovery coin for the VAM 5B! |
$146.25 |
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*Price includes the buyers premium.
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