The Seven Topics Of VAMming That Merit No Discussion

Heh, although that was not a question, let me answer with this:




A hobby is what people like to do...... some folks like to collect things, some folks like to solve mysteries, some folks like to make money (yes, some folks consider making money a hobby, even though they do not need the money, it becomes a compulsion, just as strong as the desire to learn or to collect).... You know this is true, you know several prime examples.... it is the legacy of our society..... do not let your perceptions of others interfere with your own desires.... the hobby that depends on you would suffer for it.....


This is what America is all about.... Life, liberty, and the pursuit of money..... free enterprise and capitalism.... P.T. Barnum would roll over in his grave if he read your words....

Despite the economy where VAM prices have fallen, its obvious that there are far more "VAMSIGNS" every where we look....its a slow time but people are looking and buying smart....

Four of us vammers got together today and had a nice lunch sharing coins, stories of derring do, cherry picks and of course all subjects of vamming that held general interest to each of us. One topic is a question that constantly pops up, "is my VAM really worth as much money as they say it is?" The question depends on the specific date, condition of the coin and its percieved rarity. The answer from my vantage point is no, not really. But please remember all it takes is for two people to agree on a price. Living here in the Midwest so close to the show-me state of Missouri, I have to see prices realized with a trend to accept these premium prices that are being suggested as real. Especially coins that are not list coins. By that, coins that are not top 100. hot 50 or hit list 40 coins. Take for example a 1901-O VAM 39-A.
The 1901-O VAM-39A Doubled Top Reverse, Clashed Obverse I & us
was discovered by Dave Borofski in June 2004.

This coin is a Super CD Morgan VAM. It is included in a list from an excellent book by Mark Kimpton on Elite Clashed Morgan dollars.
Here are the specifics.

39A(revised) III21 · C3e (Doubled Top Reverse, Clashed Obverse I & us) (181) I-3 R-5
Obverse III21-- Clashed die with partial incuse I of In from reverse next to Liberty head neck and partial incuse you diagonal line and s curved line of Trust from reverse showing in right hair vee of lower hair edge. Later die state shows triple diagonal clash line from neck and double partial incuse I and us.

It is a very neat VAM.

Last year some suggested the price for a PCGS MS 62 was one thousand two hundred dollars. For a PCGS MS 63 some suggested the price was two thousand five hundred dollars.

These are considered very hard to find. A gentleman out of Illinois found six. All at different times. A double trifecta if you will. He paid forty-one dollars for the MS 62 specimen. A blast white, creamy specimen. I know this as he gifted it to me as I didn't even have a 1901-O Morgan dollar in my collection.

Is the coin worth one thousand two hundred dollars? This year according to some it is worth five hundred dollars.

If you accept the premise that as best as it can be ascertained that all of the prices some are suggesting are accurate, then by finding six of these the price was lowered by half! From one thousand two hundred dollars to five hundred dollars. What can one make of this? (1) As more coins are identified and attattributed unless there are more collectors coming in to the market willing to pay the higher premiums, prices come down. Rarity does not equal demand. Perceived rarity does not always equal demand. (2) what I am alluding to is relative rarity. Relative to what? Relative to how many are known. Relative to how many are located and demand for them. (3) Conditional rarity plays a role here as well. The higher the grade, especially if it can go in to PCGS plastic, the higher the price that can be commanded for it. All of this is a delicate balancing act.

But what if one accepts that the prices being suggested are prices that are overly inflated? Now that should give one pause.

There is great interest in vamming. I am not sure how well it translates over to the serious collectors needed and willing to pay big money for hard to find vams for their represpective collections.

But think about this. I find a 1901-O VAM 39-A in PCGS plastic and pay forty-one dollars for it. And now I want to sell it to you the new collector for five hundred dollars. I tell you it is a good deal. You believe it is a good deal. The deal is consumated. I walk away with four hundred fifty nine dollars.

Interesting point here, is the 1901-O VAM 39-A is not a registry coin.

Or to continue your thought, there are a lot more these than previously thought. Or finding so many may have been a statistical anomaly.

What has long fascinated me is why the topic of Leroy's succession is considered by many as contentious? Nor worthy of discussion?
I have always believed that the hobby should be as transparent as possible. Obviously, Leroy has not made his decision known. But I would think and hope the criteria needed would be of the candidate or candidates impeccable integrity. Some one who is very capable of attributing and this aspect narrows the field considerably.

Well, the alternative that is being advocated is to VAM attribute by committee. You know what they say about committees? When ever there is something wrong, there is no one to blame.