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 Replies: 55 / Views: 4,894 |
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Pillar of the Community
United States
3076 Posts |
I have often wondered, on the VAM and its relative pricing and its supposed IR ratings......why would a coin with an I3R4 rating be worth a fortune?, let alone why would a R4 coin a COMMON coin have such interest? And yet there are coins with an "I" interest of 2 and a "R" rarity of 7? and no values.......What is driving such diversity? perhaps its like those who like eggs over easy rather that poached or meat cooked to "RARE" in stead of medium RARE to well done? This is not making any sense to me? |
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Bedrock of the Community
United States
14454 Posts |
I am going to tell you the I and R ratings have nothing to do with pricing as far as I have seen. these ratings are given to the VAM's when they are discovered and is just a guess by LVA to be honest. I believe allot of them that have low ratings are allot rarer than the R level would suggest. and from the sales of the auction prices they sell for, the I level must be pretty high also no matter what their listed I and R levels say |
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Valued Member
United States
133 Posts |
I agree with what Bryan states, plus the fact that its not Leroy who makes all these coin lists up and sets the prices for them. Follow the money and I don't mean to Sydney,Ohio!! LOL
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Moderator
 United States
23522 Posts |
It's no different than any other numismatic issue - value is a function of both rarity and demand. More often than not, demand is the true driver of value. Morgan rarity ratings are still in their infancy, anyways, for most varieties.
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Pillar of the Community
 United States
3076 Posts |
I was reviewing the 1901P VAM 7 with the I3R4, low value coin in low grades yet quite alot as a vam7. an inconsistency one must learn for particular vams |
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Pillar of the Community
 United States
1551 Posts |
One could looks at the value of the 1909 VBD in UNC for a good comparision. Once many see the VBD in a listing many newbie's will bid one up it just becuase of that. When in fact the coin is much less rare in low mint state then one would think. Kind of like the State Quarters when they first came out many picked up a roll from the bank and stored them. I think the same thing happened with 1909's it was new so more got stored, and there for there are more UNC's then would normally be seen on other years. We see this happen even today. Once more come out the market stabilizes. But in the case of mid to late date Morgans up to 1904 the design had been out so many that where in the public hands just got worn, as it was nothing new. Also grade has a lot to do with it. Many of the higher value VAM's are grade sensitive. You find large jumps from and XF to AU on some and others like the 1879 over 80 P Vam-6 the jump from AU to MS-62 is a few thousand bucks. |
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Valued Member
United States
220 Posts |
I will follow-up with what Bryan and OCSJR say. "Value" on VAMs is a function of supply and demand in some cases. Take a Hot Lips. Not exactly rare, but they command a pice becuase they are in demand, likely by the Red Book listing. However, I would suggest that the "prices" of particular VAMs are driven more by the Registery Sets than anything. Competition for the Top Set drives pices by those who can afford it. It usually has nothing to do with true rarity. "Prices" are dictated mostly by competition by those who have the money to support the competition. The I&R values assigned by Leroy have nothing to do with this. They are completely separate issues. |
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Pillar of the Community
United States
709 Posts |
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I would suggest that the "prices" of particular VAMs are driven more by the Registry Sets than anything. Competition for the Top Set drives pices by those who can afford it. It usually has nothing to do with true rarity. I would very much agree with this statement. There are not enough vammers to justify the high prices for vams. Unless new buyers come in to the market, those who paid these high prices will find their values much like the beanie baby craze, while not worthless, vams will be huge price busts.Edited by Ozland
01/02/2011 3:12 pm
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Pillar of the Community
3660 Posts |
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There are not enough vammers to justify the high prices for vams. Unless new buyers come in to the market, those who paid these high prices will find their values much like the beanie baby craze, while not worthless, vams will be huge price busts. I notice that the prophetic ramifications of this statement are phrased in future tense rather than present. |
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Pillar of the Community
United States
709 Posts |
I competed in the PCGS 328 coin Morgan dollar super set. It is all dates, all mints, all top 100, hot 50, hit list 40 and all other Morgan varieties PCGS lists. I had over 54% of this set all in uncirculated condition. Average Mint State grade: 62.64 I delisted my registry set in December 2010. Edited by Ozland
01/02/2011 3:26 pm
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Pillar of the Community
United States
3076 Posts |
THATS QUITE A FEAT!  |
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Pillar of the Community
United States
709 Posts |
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I notice that the prophetic ramifications of this statement are phrased in future tense rather than present. Those currently participating in the registry sets are willing to pay to complete their sets. What happens when they go to sell their sets? Unless there are buyers willing to pay those prices, they or their heirs will find there is a limited or reduced market value for them. Edited by Ozland
01/02/2011 3:31 pm
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Pillar of the Community
3660 Posts |
I assume that you felt that the return is not commensurate with the investment (based on the beanie baby analogy above)?
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Pillar of the Community
3660 Posts |
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Unless there are buyers willing to pay those prices, they or their heirs will find there is a limited or reduced market value for them. Well, our governmental leaders are absolutely confident of an economic turnaround..... so that should help drive prices right back up to previous levels of lunacy should it not?  |
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Pillar of the Community
United States
709 Posts |
A very prominent registry set vammer and myself had this very conversation. One one hand like anything you participate in, it costs to play. Like any hobby, there are associated costs relative to the enjoyment one derives from the hobby. That enjoyment offsets the cost of the hobby. A lot depends on the level of enjoyment.
Both of us came to the conclusion that unless new buyers come into the market, the prices paid will not be there on the end when it comes time for us or our heirs to sell. Higher silver prices will not offset the huge premiums associated with these vams.
Edited by Ozland
01/03/2011 1:27 pm
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Pillar of the Community
United States
709 Posts |
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our governmental leaders are absolutely confident of an economic turnaround Has government ever done anything truly right? |
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Replies: 55 / Views: 4,894 |
Posted 01/02/2011 09:16 am
