VAM Rarity Question

Like I said earlier, it can't be that rare if I own it. But it is a interesting coin.

Gene, no doubt luck (sometimes dumb luck) plays a role. I wanted to buy a nice PCGS attributed 1921-P Pitted reverse. I found one in MS 61 for fifty-five dollars. PCGS is funny in that on 1921 pitted reverses they do not list the VAM (because there are so many different varieties of them). Turns out my inexpensive pitted reverse is a VAM 15 which is not so easy to find.
Sometimes, it just is what it is....and nothing more.

I'll bet there is a whole bunch of them Gene, maybe not yet known though. How many are being designated as new vams per week now? How many were there per week last year at this time? Two years ago? Is the frequency diminishing or increasing? I would be interested to know that. It maybe rather early to determine anything yet, as the number of possible discoveries diminishes and the number of searchers (allegedly) increases. When is the heyday for discoveries? Is it already past, or still on the horizon? I have never found one, but then, I wouldn't know it even if woke up one morning with it in my mouth.

Since "R" is based on the number of coins should it not be adjusted up or down when more data is available?

But, here is something I do - Take the mintage and give it a 60% hair cut and you are down to a one or 2 million as a starting point for some years and are already in the R3 bucket by "default". The % is a debatable number and is a separate topic.

Peace

I always was thought it was an est. of the number of coins put out. Based on the ware of the die and the die state. On the 1882 CC Vam-3d the coin is listed as a R-7, many including myself feel it is wrong. This type has a very strong multiple die break on the obverse. LVA I think thought that the die would of soon been retired. With the number of GSA 82's out in the market and the number that is being seen. It looks like the mint ran the die into the ground.

I have never heard of a (R) rating being revised, but I am rather new. For the even newer newbie do not rely on the are rating as far as value. If you have a one of a kind and no one whats it how rare it is doesn't mean much

From a collector point of view, one of a kind coin(s) (while super great to have) are in reality uncollectible. 1921-D VAM 1X is like that. Another is 1897-O 6A with only four specimens known at this point. Many think they have 1897-O VAM 6A only to discover later it is VAM 6.
Zee brought up some of the impediments to vamming earlier in another thread and this is one of them.

For those of us who participate in the PCGS registry sets having a one only coin listed is a detriment to those who might otherwise attempt to put together a set. Case in point. The 1921-D VAM 1X was already listed in the PCGS 328 coin Morgan dollar super set (all dates, mint marks, all varitites). The 1921-D VAM 1X is also a hit list 40 coin and it is in that set as well. I will not participate in the hit list 40 registry set because there is virtually no possibility of finishing that set.

The idea of including the 1921-D VAM 1X in the hit list 40 set was to see if others could locate another one of them. While the idea was noble, and the personalities involved were altruistic in their motives, overall, I think it is counterproductive in the sense that these (mostly) same folks are dealers and would like having customers purchase coins for their sets. Who wants to put together a set that can not possibly be finished?

How rare is rare? It depends. It depends on whether the coin in question is listed in a registry set and people are actively looking for it (and by extension, willing to pay big money for it).
It depends on the grade. It depends if the coin can be graded and attributed by one of the major top tier third party grading companies.

Normally, I buy anything you say Terry, as gospel and I investigate no further, but this I completely disagree with.

Let say there are 10 Bags of coins consisting of 3 different runs with a make up of 2A, 3B and 5C.

Blind folded you picked 1A, 1B, 1C and went about your project. You also WERE not given the make up of 10 the bags. Ergo, you gave A, B and C equal 33.33% weighting and started vaming.

Mathematically
A = 20%
B = 30%
C = 50%

To circle back - How was "R" derived? This is why I said it should be revised when more data is available. May be one of you folks can get "R" openly published down the road as it should be.

Zee, you follow currency. Even as recently as the mid 1980's BEP never published or had messed up reports on particular runs. The only way folks did it in the past and are doing it currently is by backing into the numbers from existing serial numbers as and when they turn up and most importantly keeping it in the "public domain" for all to see. I highly doubt the mint had better bookkeeping methods back at the turnoff the century.

Peace