(2)1921-S VAM 1c Morgans

I'm gonna guess the first is 63 and the second is 64. My guess would also be no premium over VAM1, but then that is without any due diligence. SsuperDdave is a '21 aficionado and would know better than anyone.

I can't help you with value. There are some other listed on ebay that might help you determine a value on yours.

Here is what a VAM 1C should look like. http://www.vamworld.com/1921-S+VAM-1C They both should look just like the photos. If I am reading what you wrote correctly you say one looks different so it might not be the VAM 1C. Try and match it up with a VAM from the 1921-S Page http://www.vamworld.com/1921-S+VAMs

You can also find price history & condition census at the bottom of the VAM page sometimes. For this VAM it shows MS64 at the TOP POP listed (on VAMworld). I just checked the SSDC registry and see that there are only 3 MS64 and none graded higher. There are 17 total VAM 1c coins listed in the SSDC registry.

Heritage is one of those places I go for values. The VAMs were called out so any buyers that were interested in them would have bid. You might have got lucky and a got a good deal because there were 2 in the lot and other bidders did not realize this, it is hard to tell. I would test the market on ebay with the MS63 if you really want to know how much they are worth. Price guides are just a guide. Many times coins that are valued high in the beginning become less valuable as more of the variety show up. The VAMview price guide is not updated very often unless they have started doing them again.

You got two MS64 and one MS63 PCGS graded 1921S VAM 1C Morgans for $258.50. There were six different bidders on this auction so I doubt all six overlooked the fact that there were 3 coins in the auction. My guess is that this VAM is not as rare as originally thought, including by the aforementioned parties selling them. Of course this is pure speculation on my part based on the auction price realized. You may want to post this on VAMworld to get some more qualified opinions. Besides, there is always the chance that you just scored big.

Varslab is John Baumgartner, one of the finest Morgan dollar guys alive. His opinions brook no questioning. Regarding Vams and More, that's Logan McKechnie. He's on the same level as John in terms of knowledge, and the driving force behind the VAMView Price Guide, the unofficial-yet-definitive guide for retail pricing of VAMs.

Logan's website pricing is just the same - full retail pricing of VAMs aimed at VAM collectors, from the one man in the hobby who probably best knows what a given coin is worth.

But all that has to be taken with a grain of salt. Not as a reflection on Mr. McKechnie, but as a reflection of the fact that VAMming is still barely in its' infancy. There are very few collectors seriously pursuing varieties, and the knowledge base of true values/rarity is barely begun by comparison to the remaining potential for our thinking to be changed in the future with more information.

So when I say that I don't really see VAM-1C as an added-value variety, it's partly because I know collector demand is relatively low, and partly because I know we really have no clue as to how rare they actually are.

As I discussed in your other thread, I know the Thornheads carry added value because they've always been in demand as unique specimens, and are therefore heavily researched and sought-after. I know the 1L and 1Y carry added value (less-so than the Thornheads) because evidence indicates they're physically rare. That's because of the nature of the defining feature - it's not something that is going to have a long lifetime on a die. I've seen a couple dozen 1L's on ebay over the last few years - they're far easier to spot than 1Y's - but that doesn't account for relistings so even though I think the population mentioned at VAMworld is understated they're still hard to come by.

The 1Y is a different story. I've been seeking them out since being lucky enough (I think) to find the second example known; in the years since, I've only seen a couple more, including the (apparently) only one known in Mint State which I cherrypicked off of ebay.

I'd personally pay a decent premium for any Mint State 1L, and any 1Y in any condition. But this is still only one man's opinnion, which is why your questions are so inherently difficult to answer. Morgans aren't like earlier issues where time and research has pretty much defined rarities and demand.