Grade Please 1888 O Morgan

Superb toning - cracked planchet - lots of chatter.
Need reverse to say a grade, but looks UNC

It's a Scarface VAM

oops. Did not know about the scarface. Thought it was planchet damage.

Wow! These have a huge implication to a grading company in every grade as the values increase exponentially.

1888-O VAM-1B4 H10 Scarface VLDS
Current Price Levels sold at auction in the past 12 months:



I'd call this a shot MS53 but more likely MS62 if the toning on the reverse passes muster at the TPG. Definitely worthy of trying with these value levels, a TPG is probably going to judge this coin a bit stricter and it will more than likely pass on through to the top graders and finalizers at a TPG due to the value changes in each grade level. They don't want to be on the line for a buyback guarantee in the future if they get it wrong.

As far I can tell there are only around 250-500 known and most aren't this advanced die state. This is a pretty serious rare and very wanted coin in the collecting market right now.

My Two Cents for what it's worth.

Wanted to add this PDF link starting on page 27 is a very nice group of photos showing the progression of the die crack through the various die state stages. The last stage H10 has the little Cud behind the nostril of Liberty's nose.

http://www.ssdcvams.com/VAMview9.pdf

The obverse is killer, could see this at 64, but the reverse is somewhat odd-looking.

It's a killer. If Heritage has given you feedback based on pics, consider it carefully. It will only become more common, not less common.

This is a remarkable example that might bring major bucks at auction today. Sorry, thought you had submitted these images to Heritage for evaluation. If not, strongly suggest so.

I think it's all depending on what PCGS would grade it. They are far and away the more popular slab service for Morgans (generally bring better pricing). Heritage is probably not far off, if the coin is advertised right and sold correctly - meaning they get it to the right people.

The FUN show is big for VAM collectors as is Long Beach, not so much at ANAs for some reason. Though Heritage I'm sure wouldn't steer you wrong, they may be a bit high on their estimate, but they want to be the auction company selling it. Get it in the right sale, find the right buyers, let them see the coin in hand and if it's a higher end straight graded coin $10-15K isn't out of line.

Depends on the cost to you to try I suppose, how much buyback fee would you be willing to risk. The current VAM market seems pretty strong to me, especially the higher grade ones.