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 Replies: 6 / Views: 1,622 |
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Valued Member
United States
411 Posts |
This is a question about VAM desigations on Peace dollars. Keep in mind that I'm only vaguely familiar with VAM designations and have never knowingly purchased one. There's a 1926-S Peace dollar that I'm considering. It's graded by PCGS as MS-63, which, on PCGS Price Guide at $80. The coin has a VAM designation that pushes the price up to almost $140. The seller claims that the VAM designation on that coin is listed as a "New Discovery" credited to the dealer himself. It is accompanied by certification and, based on my experience with the dealer, I think it's authentic. I have seen the details and it appears legitimate. Also, the dealer has several other VAM designated Peace dollars accompanied by photos of microscopic detail showing the variety. They appear legitimate, including for example, one with a "top 50" VAM designation (one of the double die variations) for a slightly lower price. Any info will be much appreciated. |
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Pillar of the Community
United States
2724 Posts |
Maybe I am lost a bit. What info are you looking for? PCGS now labels VAM varieties on the holder, so if it is "new" it should be noted on the holder. If this discovery was made prior to the new PCGS guidelines, ask for the coin to be resubmitted to have the VAM listed. Of course, you should only ask for this service if you plan on making the purchase. Now if I am missing the question, please let me know. |
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Pillar of the Community
United States
954 Posts |
IMHO and only my opinion, paying extra for a discovery is a mistake. New VAMs are discovered every day, and unless they are something very dramatic that has somehow slipped through the cracks, save your money. Again, IMHO a new VAM is only worth bragging rights. PCGS will only slab the Top 50, so unless they change their mind on this down the road, that Peace dollar will never have that designation on a PCGS slab. And I think it will be very doubtful that anyone else will want that coin down the road at that price. Make sure you know the R number for the VAM. An R3, R4 or even an R5 isn't worth that much of a premium. My humble advice is stick to the Top 50 or find one yourself. And finding one yourself is so much fun!!  |
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Valued Member
 United States
411 Posts |
Quote:
Originally posted by national dealer
Maybe I am lost a bit. What info are you looking for?
The VAM designation is not on the PCGS holder, but I don't know when this variation was discovered. My main question is that, assuming this dealer is telling the truth and not only is this a "new discovery" but also has an R-6 rarity grade, I want to know, assuming all this to be true and authentic, does the VAM make this coin worth more than PCGS says it ought to cost? |
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Valued Member
United States
411 Posts |
Quote:Originally posted by BeckyMake sure you know the R number for the VAM. An R3, R4 or even an R5 isn't worth that much of a premium. My humble advice is stick to the Top 50 or find one yourself. And finding one yourself is so much fun!! Here's the original VAM description: 2B II 1 ˇ B2b (Die File Lines Obverse & Reverse) I-2 R-6
Obverse II 1 - Heavy die file lines at top and left fields.
Reverse B2b- High micro I S mint mark with heavy die file lines all over right field and above eagle with slightly shortened rays of second and third rays from top.The dealer has only seen three. Does that make any sense? How many does it take to get a recognized VAM? |
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Pillar of the Community
United States
954 Posts |
I went and looked at the coin, I like the seller's pics. But I would want the mustache, it's a Top 50 and way cooler to me. Naked eye cool, no need for a loop for that one. It only takes one to get a VAM designation. It is an R6 now, but that can change. If you are thinking of a registry set, don't buy it. It won't be in a registry set. It's a discovery coin, too new to make it into the Top 50. And like I said, there are new R6 discovery coins all the time. But have you seen a whisker jaw, extra hair, a field break, a double die reverse? Some of those are knock your socks off cool, and can be bought for around that same price. What I'm saying is you have to decide what the coin is worth. If you like it and want it, go for it, but if I had the money right now, the mustache would be on it's way to me  |
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Rest in Peace
United States
2684 Posts |
I'm not a big VAM fan because there are so many of them (over 3000 for Morgans) and most differences are minuscule or microscopic. With only a few exceptions such as the 7/8 tail feathers and "spitting Eagle" varieties, there's no difference in value among and for most collectors unless they specialize in VAMs; only a few VAMs are listed in the various price guides. PCGS will attribute only 277 Morgan and 52 Peace dollar VAMs http://www.pcgs.com/VarietyFAQ.htm . As Becky said, new VAMs are being discovered almost daily, it seems. However, except for the vanity aspect of their discovery, most won't gain any value over others unless there is something particularly unusual (say, as an absurd example, the Eagle's head is pointed in the wrong direction) and there is significant demand for a particular new VAM, which there usually is not. I know there's a mini-cult of VAM hunters out there checking each and every Morgan and Peace dollar they can get their hands on (get a VAM named after you), but this is more of a sideline to Morgan collecting and not large enough to generate the demand necessary to increase VAM values. |
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Replies: 6 / Views: 1,622 |
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Posted 12/05/2005 7:59 pm
