That coin is called the "King of VAMs". The Vamming community considers it the Holy Grail of VAMs. Even though there are many VAMs that are much rarer, it's the desirability factor that elevates this one.
I have been Vamming for five years and I don't have one ... I want one!
Consider the variety in the same manner you would a 1955 doubled die cent or 3-legged Buffalo, etc. A 1955 doubled die is not just a 1955 Lincoln Cent and Triple Blossom is not just another 1878. There are lots of collectors seeking such varieties.
the VAM-44 is the one VAM that EVERY VAM collector wants to have in their collection. So if they don't already have one they are always on the look for one. It is considered the King Of VAM's and that has made it a very popular variety. Allot of us would probably already have one in our collection but we are waiting to be able to cherry pick one. It being the King Of VAM's even when they aren't marked as this particular VAM the price can still go way up there because there is so much interest in this one VAM that allot of people are actively looking for them. Their popularity makes non attributed examples coming to market is a rare occurrence also because even no VAM collectors knows about this particular VAM
I don't believe the lack of closure on this auction is any real indicator. The majority of VAMmers who have pockets that deep either already have one, or have abandoned ebay due to the ludicrous claims of rarity and value made by many who sell attributed VAMs on ebay.
I tell you plainly, had I the wherewithal I'd have written a $6000 check for this coin in an instant.
I think that it is interesting how slight varieties in dies command and receive such prices. I would not call it crap however. Its a facet of the hobby that exists and has meaning to some and if they want to shell out that kind of money than let them.
Its a facet of a group of collectors with $500,000 in the bank for their annual coin budget and about (6) books on their numismatic shelf. With Morgans being the #1 collectible coin in the U.S. this kind of behavior is expected like registry sets. The average collector spends only ~20 minutes/week with his coins in the U.S.. My collection when it sold at Stacks in 2009 had a NJ Horsehead Colonial variety called Maris 48-X which almost brought $50,000 that I paid $4,000. Variety collecting can go to extremems but these are variety changes with a major die change within a screwpress. This kind of buying is more like the price differentials between MS63 & MS64. THe only reason it has meaning to some is based on their breadth of their numismatic libraries. Yes?
Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited. Contact Us | Advertise Here | Privacy Policy / Terms of Use
Posted 09/12/2012 11:47 am
