The VAM-E Newsletter
Introduction
The following is a compilation of the VAM-E newsletters since its inception. The VAM-E is explained in the newsletter:
This newsletter is copyright 2004, SSDC. It is intended to facilitate the sharing of information that may be of interest to SSDC collectors. Proposed postings may be edited for length or content. Nothing that is considered personally inflammatory, overly commercial in nature, or in poor taste will be posted. An e-mail exchange may be submitted, but permission from all participants in the exchange must be granted before it will be printed.
To submit items for publication, e-mail address changes, or unsubscribe requests, send them to John Baumgart at vam-e@varslab.com.
SSDC Officers:
Ash Harrison, President,
ash@ashmore.com
John Baumgart, Vice-President,
vam-e@varslab.com
Brent Fogelberg, Director of Membership, fogie@
Mike Andrew, Treasurer,
mwabeep@aol.com
Michael Fey, Northeast Regional Coordinator,
feyms@aol.com
Rob Joyce, Mid-Atlantic Regional Coordinator,
rob@rjrc.com
Mike Andrew, Southeast Regional
Coordinator,
mwabeep@aol.com
Eric Justice, Mid-West Regional Coordinator, ehjustice@aol.com (Peace
Dollars)
Mark Kimpton, Mid-West Regional
Coordinator, mark_kimpton@hotmail.com (Morgan Dollars)
Mike Andrew, Southern Regional Coordinator,
mwabeep@aol.com
Phil Perdue, Northwest Regional Coordinator,
phil@perduenumismatics.com
Jeff Oxman, Southwest Regional Coordinator,
jeffssdc@aol.com
John Baumgart, Internet Regional Coordinator, ssdc@varslab.com
Mailing Address: SSDC, P.O. Box 42112,
Greensboro, NC 27425
Membership in the SSDC is $21.95/year or $199.00/life
Benefits include consultation, collaboration, SSDC Journal, SSDC Reports, VAM-E
e-mail Web Site: vamlink.com VAMView Magazine, VAM Price Guide
Index to all issues of the VAM-E
Vol. 1, Issue 1 -- January 31, 2004
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Welcome to the inaugural issue of the SSDC VAM-E. I will be bringing this mailing to you every week. The VAM-E will be an edited compilation of questions, answers, and ideas about VAM collecting or silver dollars in general. I'm hoping you will find this a useful and enjoyable newsletter.
In this issue, I'll try to get things started
with an amusing anecdote about my favorite cherrypick and a question.
If you wish to respond or post to the VAM-E, please send me
an e-mail at vam-e@varslab.com. You may submit a question,
an answer to someone else's question, a link to a web site
with interesting information, an interesting or amusing anecdote, favorite
cherrypick, or an entire e-mail exchange with another person.
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FAVORITE 'PICK
Several years ago I was running some mundane weekend errands and decided to stop
in a coin shop I hadn't been to. It was mostly sports memorabilia and Beanie
Babies, but there were some coins in the case. I looked at the entire stock of
Morgan dollars, which numbered upwards of 12 to 15 pieces. I had to ask to
borrow a magnifying glass and was handed a cheap plastic light-up one. I took a
look at a nice, uncirculated 1887-O, and sure enough, it was a 7/6. Since I
didn't have the $35 on me he wanted for it, I had to go find an ATM, then head
back to the shop, where I plunked down my $35 for an 1887/6-O that's now in an
ANACS-63 holder. The store had closed when I passed by again a couple months
later.
http://web1.chicagonet.net/~baumgart/87over6o.jpg (150 KB) http://web1.chicagonet.net/~baumgart/7over6o.jpg (37 KB)
Send your favorite 'picks. I'll feature one or two each issue.
RPM IN 1921
With way more branch mint dollars than other years, you'd think there would be a 1921-D or 1921-S with a RPM. Has anyone seen one?
Vol. 1, Issue 2 -- February 8, 2004
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Welcome to another issue of the SSDC VAM-E. The VAM-E is an edited compilation
of questions, answers, and ideas about VAM collecting or silver dollars in
general. I'm hoping you will find this a useful and enjoyable newsletter. In
this issue, PCGS is (finally!) interested in VAMs. David Close tells of his
favorite cherrypick. If you wish to respond or post to the VAM-E, please send
me an e-mail at vam-e@varslab.com. You may submit a question, an answer to
someone else's question, a link to a web site with interesting information, an
interesting or amusing anecdote, favorite cherrypick, or an entire e-mail
exchange with another person.
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FAVORITE 'PICK
** The following is David Close's recount of his most dramatic cherrypick. Send
your favorite 'picks. I'll feature one or two each issue. I was in a local coin
store, where they had just purchased an estate with about 100 silver dollars,
mixed dates, most circulated. In the group, there were 2 1878S dollars, BOTH had
a B1 reverse, with long nock on arrow! As you know, the mathematical probability
of this happening approaches zero. This occurred in late November, 2000. My
take-home is that there is a God in Heaven who rules the affairs of men.
PCGS ACKNOWLEDGES VAMS
** Here's an exchange between David Wang and Michael Fey regarding PCGS's decision to start acknowledging VAMs. DW: PCGS is contemplating joining NGC/ANACS and begin slabbing Morgan dollar varieties beyond just red book varieties. However, they would like to hear some arguments about which varieties to slab, and why.
Top-100? Hot-50? 8TF? 7/8 TF?
MF: Yes, all of the above! This is what has actually evolved in the collection of Morgan & Peace dollar varieties by variety collectors. Why not continue with this base history and evolution of VAM collecting? DW: I recommended that they slab everything with "clear pictorial guides" such as the 4 series listed above. They would also like to have more information regarding to tangential issues relating to more than just the existence of the varieties. i.e.
1. Are all of the Top 100 and Hot 50 coins
easily identifiable? (i.e. without a 10x loupe and a vivid imagination)
MF: Yes, but some are more easily identifiable than others. There's nothing
wrong with that. All varieties just can't claim to be as strong as Scarfaces and
Hotlips.
DW: 2. Are all of the Top 100 and Hot 50 coins worth having? (the 1887 Gator Eye
comes to mind)
MF: The Gator eye has done more good to introduce new collectors to Morgan
dollar variety collecting than most other Top 100 coins. Without having
something neat and interesting that collectors could actually find, how would
they get excited about this area of collecting?
DW: 3. Are all of the Top 100 and Hot 50 coins available in the marketplace to
any real extent? (such as the 1878 VAM 44)
MF: Part of the fun of collecting is having the tougher ones to go after. If we
all completed our sets in a short period of time, we would quickly lose interest
and go on to something else. There must be some relatively challenging coins in
the group. If you don't think there are any more 1878 7/3 TF VAM 44's in the
marketplace to be found, you're terribly mistaken. I've cherry picked an MS and
AU specimen in the last 12 months alone. You just have to keep the faith and
look at lots of dollars.
DW: I think this would be an incredible development in the collection of VAM's.
If PCGS recognizes certain VAM varieties, they will be in the PCGS registry, and
prices could well go further through the roof.
MF: I would welcome PCGS entering the marketplace with an expanded list of
Morgan & Peace dollar VAMs that they certify. However, I would add that PCGS
should not consider reinventing the wheel...just refine it. That's how progress
is made. ** If you have some input to provide, PCGS would like to hear from
you. Please direct your comments to Dennis Halladay at
westdairy2@aol.com
Vol. 1, Issue 3 -- February 15, 2004
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Welcome to another issue of the SSDC VAM-E. The VAM-E is an edited compilation
of questions, answers, and ideas about VAM collecting or silver dollars in
general. I'm hoping you will find this a useful and enjoyable newsletter. In
this issue, more about PCGS VAMs and Q. David Bowers' new book. Dennis Halladay
tells of his favorite cherrypick. If you wish to respond or post to the VAM-E,
please send me an e-mail at vam-e@varslab.com. You may submit a question, an
answer to someone else's question, a link to a web site with interesting
information, an interesting or amusing anecdote, favorite cherrypick, or an
entire e-mail exchange with another person.
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FAVORITE 'PICK
** Dennis Halladay recounts his acquisition of an 1890-CC "Tail Bar." Send your
favorite 'picks. I'll feature one each issue. In early-1999 I decided I wanted
to own an 1890-CC Tail Bar in mint state, so I got to work hunting for one. I
looked at every dealer's price list I could find, and constantly searched eBay
by looking at the reverse photo of every mint state 1890-CC listed for sale. I
started doing the same thing with major auction houses that put their catalogs
on-line. After about 18 months my persistence finally paid off. It was the
October 2000 Heritage Long Beach Bullet Sale and the catalog had just gone
on-line a day or two earlier. There were about half a dozen 1890-CCs in the
auction, and even though I had become hugely cynical about ever finding an
unnoticed Tail Bar in an auction, I kept looking anyway. Somewhere around the
fifth 1890-CC in the sale was Lot #538 -- a PCGS MS 63. I clicked on the link
and the images began loading. The coin was in a new holder, it was blast white,
slightly PLish, and seemed extremely nice for the grade. It looked like a coin I
would like to own no matter what. As I scrolled down to the reverse image, I
about fell off my chair when I saw the tail bar. I could not believe my eyes! It
was right there as big and as obvious as could be! Whoever had originally sent
in the coin to PCGS hadn't noticed it. The PCGS graders hadn't noticed it. The
folks at Heritage hadn't noticed it. There was nothing in the auction
description that suggested anyone had even looked at the reverse of the coin!
The coin had not yet been bid upon, so I bid $100 over Grey Sheet Ask for a
"regular" MS63 and then waited and watched. Bid price on the coin (including
buyer's premium) jumped to slightly over Grey Sheet Ask within a couple of
days... and then stayed there. My guess was that when people saw this particular
1890-CC in MS63 was already fully priced, they didn't even bother to look at it.
And that's how I got my Tail Bar -- for $368 plus tax and shipping.
BOWERS' SILVER DOLLAR RED BOOK AND PCGS VAMS
** John Wilson opines of the impact of this new book. I believe that collecting
Morgan Silver Dollars has now "officially" became main-stream with the release
of Q. David Bowers new book, "The official RED BOOK of Morgan Silver Dollars / A
Complete History and Price Guide." PCGS has a unique opportunity to become a
part this by recognizing and slabbing Top 100 Vams as depicted on each date of
the Morgan Dollar as described by Mr. Bowers and sanctioned by the RED BOOK. I
would love to have one of my "finest known" Top 100's in a PCGS holder. Heck, I
would even join the PCGS Club and have my coins slabbed. I am also positive
"thousands" of others feel the same way. If PCGS wants to stay ahead of the
game, and make money in the process, now more than ever is the TIME.
RCI COINS WEB SITE UP
Michael Fey would like to announce that RCI's new web site, http://rcicoins.com, is now up and running, although it is still a work in progress.
SPRING 2004 ULTRA RARITIES AUCTION OPEN FOR CONSIGNMENTS
Michael Fey would also like to announce that RCI is now accepting consignments to the Spring, 2004 Ultra Rarities auction. The submission deadline is Friday, April 2, 2004. The auction will close on June 17, 2004. Consignment documents can be found through the link to the Spring, 2004 auction at http://rcicoins.com.
ANOTHER NUMISMATIST VAM ARTICLE
For those who haven't yet seen it, a hearty congratulations go to Leroy Van Allen for a wonderful article on clashed dies "Lady Liberty Letters" in the latest issue of the Numismatist. This article is his second feature-length Numismatist article on VAMs in one year. The first was about the five different known states of the 1921-S "Thorn Head" (VAM 1B) variety. Since that article was written, a sixth was discovered.
SSDC MEETING IN BALTIMORE
Announcing the next Society of Silver Dollar Collectors meeting: Saturday March 13, 2004 at the Baltimore Coin and Currency Convention, Baltimore Convention Center Hall E, Room 336 at 3:00. Discussions will include the latest VAM news and provide information on how to get the newest updates from Leroy Van Allen, Michael Fey and others. Bring your favorite VAM to show and discuss with friends. POC: Rob Joyce, rob@rjrc.com, 410-672-6670
Vol. 1, Issue 4 -- February 22, 2004
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Welcome to another issue of the SSDC VAM-E. The VAM-E is an edited compilation
of questions, answers, and ideas about VAM collecting or silver dollars in
general. I'm hoping you will find this a useful and enjoyable newsletter. In
this issue, there's a lot of new 1921 VAMs, more VAMs in the news, and a stolen
coin report. Clayton Christiansen tells of a favorite cherrypick. If you wish
to respond or post to the VAM-E, please send me an e-mail at vam-e@varslab.com.
You may submit a question, an answer to someone else's question, a link to a web
site with interesting information, an interesting or amusing anecdote, favorite
cherrypick, or an entire e-mail exchange with another person.
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FAVORITE 'PICK
** Clayton Christiansen tells how he got is 1878 8TF VAM 14.15 About 2 1/2 years ago I went to a local gun show since I knew one coin dealer would set up a table. This dealer didn't check for varieties and was one who I previously cherried an 8TF VAM 8 in an NGC 64 holder. I wasn't having much luck going through the uncirculated dollars, and thought my lone purchase would be a nice BU RPM 1945-P war nickel, when I noticed another tray of silver dollars on a side table. These were all circulated. I spied an 8TF dollar in the tray and asked for a look. The coin appeared to be AU, and I noticed the die crack by the"P" in PLURIBUS - it was a VAM 14.15. I asked the dealer the price. He replied $39. ANACS has since slabbed the 14.15 as UNC details, net AU-50 cleaned.
VAMs IN THE NEWS
The Coin Dealer Newsletter Monthly Supplement
published its 2nd article about Top 100 coins. In the February 13th
issue, Fey and Oxman wrote the "Top 10 Morgan dollar VAMs of the Top 100" to
fellow dealers. Readers are referred to the CDN website to get their copy if
they don't subscribe to the Greysheet.
http://greysheet.com An article also
appeared in the February 23, 2004 issue of Coin World Collectors' Clearinghouse
titled "Mint Mark on Clashed Dies; 'O' in Liberty's Ribbon on some Morgans".
Several photos were given of the 1889-O VAM 1A doubled clash, the King of Morgan
dollar clashed die varieties.
SPRING 2004 ULTRA RARITIES AUCTION UPDATE
Approximately 50 coins have been received
thus far for the Spring 2004 Ultra Rarities auction. Please don't forget to send
your coins in prior to the closing deadline. Refer to specifications given at
http://rcicoins.com
NEW VAMs ABOUND FOR 1921
Michael Fey and I have both recently received many new VAM numbers for 1921
Morgans. With over 86,000,000 coins being made at all mints, there are probably
a lot more out there waiting to be discovered, even for 1921-S, where some coins
show such severe die erosion you'd think they only use one pair of dies for the
entire year.
1921 VAM 3P - Horizontal die gouge from under 'st' in trust into eagle's left
wing.
http://varslab.com/21v3P.jpg
1921 VAM 3Q - Die gouge through
tops of ER in LIBERTY.
http://varslab.com/21v3Q.jpg
1921 VAM 3R - Die break through lower right of ribbon.
http://varslab.com/21v3R.jpg
1921 VAM 14B - Clash of 's' from trust behind Liberty's hair
1921 VAM 39 or 40 - Dot on eagle's left wing
1921 VAM 39 or 40 - Quadrupled right and 1-3 left stars, tripled date, D1 (17
berry) reverse. (Note: As of today it's unclear which is VAM 39 and which is VAM
40)
1921-D VAM 1AN - Same reverse as VAM 12A with major break on third left leaf
cluster, but almost no doubling on obverse.
http://varslab.com/21Dv1AN.jpg
1921-S VAM 1H - Chip under third left star, very wide gouge above eagle's right
wing.
http://varslab.com/21Sv1H.jpg (all
photos copyright 2004, John Baumgart)
THEFT AFTER FUN SHOW
A dealer from Muy Grande Coins of Austin,
Texas, had his vehicle broken into during a gas station stop in Tallahassee, FL
on the way home from the FUN show on Jan. 10. Many of the coins were Top 100 or
Top 50 varieties of Morgan and Peace dollars, respectively, with many in SEGS
slabs. Hundreds of other coins from half cents to silver dollars were taken
along with about 140 ungraded Morgan dollars and about 50 Booker T. Washington
commemoratives. Anyone with information on the case should call officer Mark
Lewis of the Tallahassee police dept. at (850) 891-4561.
Vol. 1, Issue 5 -- March 1, 2004
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Welcome to another issue of the SSDC VAM-E. The VAM-E is an edited compilation
of questions, answers, and ideas about VAM collecting or silver dollars in
general. I'm hoping you will find this a useful and enjoyable newsletter. In
this issue, diagnostics of the newest 79-S Reverse of 78 as well as 79-S Rev. of
78 valuation update from David Wang. Michael Fey has a rather unusual 1921
Morgan. Mark Cooper tells of his favorite cherrypick. If you wish to respond or
post to the VAM-E, please send me an e-mail at vam-e@varslab.com. You may submit
a question, an answer to someone else's question, a link to a web site with
interesting information, an interesting or amusing anecdote, favorite cherrypick,
or an entire e-mail exchange with another person.
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FAVORITE 'PICK
** Mark Cooper tells how he got his 1888-O "Hot Lips" I was at a large antique show and scouring the floor for any signs of coins. There was a guide which showed which dealers were where, and I searched out the few which said "coins". One dealer had the standard assortment of heavily circulated buffalo nickels, Indian head cents and Liberty nickels, as well as a 3-ring binder with Morgan dollars, $20 your choice. I started through the book, front to back, and when I got to the 88-O, bingo! A "Hot Lips" in Fine condition. Ever since seeing the picture in the Red Book I had wanted one, so being able to cherrypick one was a real kick for me.
1879-S REVERSE OF 78 UPDATE
An update to the values and rarity of the 1879-S Reverse of '78 VAMs is available at this link: http://mywebpages.comcast.net/davewang202/Research/1879sPAF/2004update.pdf
1879-S VAM 34B DIAGNOSTICS
** The 1879-S VAM 34B was discovered by Brian
Raines after David Wang had finished his book on 1879-S Rev. of 78. These are
some attribution notes from David for this variety. I went out today and
actually found an 1879s Rev 78 VAM34B. Since Brian Raines discovered, there had
been 3 more VAM 34B's attributed by Larry Briggs. So mine would be the fifth
known, unless someoneelse has one that I don't know about. I've spent a few
hours going over the coin. I didn't have much time with Brian's coin when he
sent it to me. I have found that Larry Briggs' unique way of attributing this
VAM from the obverse only is rather interesting and fairly reliable. The obverse
die is overpolished, so the 9 in date is open and the area under the engraver's
initial is polished open to a "circular looking shape". What I also found was a
tiny die chip on the lower left of the "8" in date. I don't recall seeing this
die chip on Brian's coin, so I'm not sure if mine is a later die state than his
or if I just missed the die chip on his coin. I've taken a few pictures, and
will be taking more later. In the picture
http://varslab.com/79sv34b.jpg, I've
labeled the picture as follows. 1. Overpolished circular region under engraver's
initial.
2. Die chip on lower left of "8" in date.
3. Open 9.
UNUSUAL 1921 MORGAN
** Michael Fey reports an unusual mark on a 1921 Morgan. This coin, and another that I found like it had a mysterious incuse "S" punched into the obverse field by Ms. Liberty's forehead. The S on the second coin was punched close, but not in the same spot as the first. This was suppose to be an original bag of 1921's and as far as I could tell it was. So, how did an incuse S about the size of a mint mark get on the obverse of a Philly coin? I'll accept any wild theories. http://varslab.com/21whatsthis.jpg ** I'll accept wild theories here, too, so send them to me and I'll include them in a future issue.
Vol. 1, Issue 6 -- March 8, 2004
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Welcome to another issue of the SSDC VAM-E. The VAM-E is an edited compilation
of questions, answers, and ideas about VAM collecting or silver dollars in
general. I'm hoping you will find this a useful and enjoyable newsletter. In
this issue, how to count reeds, a recent 78-S discovery, and Clayton
Christiansen tells of another favorite cherrypick. If you wish to respond or
post to the VAM-E, please send me an e-mail at vam-e@varslab.com. You may submit
a question, an answer to someone else's question, a link to a web site with
interesting information, an interesting or amusing anecdote, favorite cherrypick,
or an entire e-mail exchange with another person.
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FAVORITE 'PICK
** Clayton Christiansen tell of his 1878 VAM 14.16 About 3 years ago, I was watching eBay and a seller put up a raw, PL 8TF dollar for sale, touted as MS63DMPL. The picture was terrible, and about the only thing you could tell was that it was PL. The seller did not have a scanner but did respond to my inquiry. I nearly fainted when he confirmed the die markers for an A1n reverse, although I wasn't sure which one. I quickly used the "BUY IT NOW" option for $250. As it turns out, it wasn't quite as nice as the seller described; nevertheless, I was more than satisfied with the 14.16 that ANACS slabbed as an MS62PL.
NEW 1878-S REVERSE OF 1879-S REVERSE OF 1878
** What's that? David Wang describes a new 78-S with a reverse die that was also used in 1879. The 1878s VAM 1C is a recently discovered variety, first attributed by Calvin Cherry. http://mywebpages.comcast.net/davewang202/Research/1878s/VAM1C/ The interesting thing about this coin is that it shares the same reverse die as the 1879s Pitted Eagle Reverses (VAM 4, VAM 23 and VAM 25), but it is not pitted! The slight die chip on the upper loop of "R" in AMERICA (sticks out like a sore thumb on page 42 of the guide to the 1879s Reverse of 1878 Morgan silver dollars), the die cracks above "ERIC" in AMERICA, and the appearance of the engraved wing confirms that this is the same die, but no pitting in 1878-S VAM 1C. It may be reasonable to speculate that this reverse die was placed in storage, rusted due to improper storage, then brought out for use again in 1879. Evidence of basining of the die remains in the form of heavy die polish lines (and many VAM 4's show a proof-like reverse due to the basining). With Mr Calvin Cherry's assistance, I was able to purchase my 1878-S VAM 1C from Heritage's web site. The die chip on R is large enough to be observable from Heritage's excellent pictures.Mr Calvin Cherry has verified from the above pictures that the VAM 1C shown here matches his VAM 1C exactly, from the slightly doubled LIBERTY to the die polishing lines around the cotton boll. The updated 1879-s Rev 1878 die marriage/sequence chart was updated in 2003 to reflect Mr Cherry's discovery of 1878-s VAM 1C. The 2003 update may be found here. http://mywebpages.comcast.net/davewang202/Research/1879sPAF/2003update.pdf
SSDC GATHERING AT BALTIMORE SHOW
Announcing the next Society of Silver Dollar Collectors meeting: Saturday March 13, 2004 at the Baltimore Coin and Currency Convention, Baltimore Convention Center Hall E, Room 336 at 3:00. Discussions will include the latest VAM news and provide information on how to get the newest updates from Leroy Van Allen, Michael Fey and others. Bring your favorite VAM to show and discuss with friends. Contact Rob Joyce, rob@rjrc.com, 410-672-6670, for more information.
HOW TO COUNT REEDS
** Michael Fey describes how he counts reeds on coins. Most collectors seem to have an aversion to counting reeds on their Morgan dollars. It's not difficult, takes only a minute or two, and can be an enjoyable activity, especially on a rainy day. The best place to start is with raw 1878 8TFs, where any new reed count can result in a major discovery. All you need is a dissection (binocular) microscope in the 20X-40X range, a light, a felt marking pen (you can wash off the mark with a Q-tip and acetone), and a blunt pointed object like the back (blunt) side of an Exacto knife (counting object). While holding the coin on its edge in one hand firm against the table and the counting object in the other, place a small pen mark on any starting point (I use the reed in between the 7 and 8 of the date). Then, looking through the microscope, start counting in the direction you feel most comfortable by rolling the coin on edge, periodically lifting it up slightly, rotating it with your fingers, and placing it down against the table. With the other hand, you will be lifting and placing the counting object on the area inbetween each reed much like counting teeth in a gear. This will require about 1-2 minutes of intense concentration and will not harm the coin. As you come full circle, take care to count the marked reed only once, either at the beginning or the end of your counting. That's it! You should confirm your count with a 2nd count of the same coin. With a little practice, this will become pretty easy to do. And, it only takes a minute or two. You can document your findings by using a large flashlight reflector. Place the coin in the curved portion of the reflector and the reeds will reflect flat outside of the rim. You can photograph this,count the reeds manually, and print the image for others to review. A good place to start is the 1878 8TF VAM 6, which is known to have 3 different reed counts! Would you consider a VAM 6 with 189 reeds the same variety as a VAM 6 with 193 reeds? How about one with 179 reeds? Happy Hunting!
SPRING ULTRA RARITIES AUCTION
** An update from Michael Fey about the Spring 2004 Auction I have already received more than 200 consignments for the Spring, 2004 Ultra Rarities auction with more coins expected. If you are planning to consign to the auction, please note that the submission deadline is coming up soon on April 2nd, 2004. Please be sure to execute and submit all consignment documents. These may be found at our website within the Spring Ultra Rarities Auction tab at: http://www.rcicoins.com Should you have any questions, please feel free to call me at 973-252-4000 or E-mail at Feyms@aol.com
Vol. 1, Issue 7 -- March 15, 2004
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Welcome to another issue of the SSDC VAM-E. The VAM-E is an edited compilation of questions, answers, and ideas about VAM collecting or silver dollars in general. I'm hoping you will find this a useful and enjoyable newsletter. In this issue, how to get VAM book updates, a question about a Top 100 VAM, and a report from the Baltimore show. If you wish to respond or post to the VAM-E, please send me an e-mail at vam-e@varslab.com. You may submit a question, an answer to someone else's question, a link to a web site with interesting information, an interesting or amusing anecdote, favorite cherrypick, or an entire e-mail exchange with another person.
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FAVORITE 'PICK
** Nothing was sent to me this week. Send 'em if you got 'em.
VAM BOOK UPDATES
Leroy Van Allen has the 2003 VAM book supplement available. It is a 113 page supplement that contains descriptions of all the coins discovered since the 1991 printing of the VAM book, and pictures of all the 2003 discoveries. The supplement is available for $13 + $2.50 postage.
Pictures of previous years' supplements are also available, back to 1997, priced as follows: 2002 (46 pages), $7 2001 (39 pages), $7 2000 (37 pages), $5 June-Dec 1999 (22 pages), $5 Dec 1997-June 1999 (23 pages), $5 Postage for all 6 supplements mailed together is $5 for Priority Mail. Contact Leroy Van Allen, P. O. Box 196, Sidney, OH, 45365.
BALTIMORE SHOW REPORT
** Rob Joyce coordinated an SSDC get-together
at the Baltimore show. Here's his report.
The Society of Silver Dollar Collectors met Saturday 13 March at the Baltimore Coin and Currency Convention. Six people were in attendance: Meeting coordinator, Rob Joyce, David Wang, GeorgePowell and Jack Lee (no, not that Jack Lee, but the famous VAMer in Maryland ;-). We welcomed two new members, Tom Friend and Brad Edward who are VAM enthusiasts. A color handout with attribution guide for 1900 O/CC varieties. These two pages show specific die markers that can be used to distinguish the seven different varieties. A PDF copy of this guide can be downloaded online (print in color and in landscape mode to view as intended) http://www.rjrc.com/vams/o_cc_guide.pdf Following the guide, Rob presented population statistics on the O/CC VAMs (based on ANACS data), offering a theory that the VAM-7 is tremendously underappreciated and may have a rarity on the order of the popular VAM-9 coin. VAM-7A is also very rare in the population report but part of that low number may be due to the fact that it was discovered in the last few years and is not in any reference books, only update notes. We talked about the pitfalls of the population report data: not everyone has access to the attribution information; people focus on the high VAM-9 prices and are more likely to slab the coins; etc. Regardless, rob looked at many O/CC coins on the show floor and did not find and VAM-7, 7a, 9 or 10 coins so they is a trend supported by the population data. The population summary is posted to the web at: http://www.rjrc.com/vams/occ_pop.htm Also distributed was a population analysis of the Hot 50 Morgan Dollars and Top 50 Peace dollars based on the ANACS population reports. These guides provide insight into which VAMs are showing up with great frequency and which ones seem to be very hard to come by. The analyses are available here: http://www.rjrc.com/vams/top_50_sep_03.pdf
http://www.rjrc.com/vams/hot_50_sep_03.pdf
Rob Joyce also discussed the rising prices in the 1921-D VAM market since the publication of his book "Fun With 1921". He provided a price sheet showing some amazing sales of 1921-D VAMs: VAM-1G, ANACS AU-53, $177.77
VAM-1Q, ANACS MS-61, $271.00
VAM-1AC, ANACS AU-58A, $300.00
Since AU 1921-D coins can be purchased for $8 to $12, the circulated finds were some great catches for the cherry picker. For a complete listing of over 30 recent 1921-D VAM sales, see http://www.rjrc.com/vams/1921d_prices.htm
David Wang also presented at the meeting. He provided an overview of the 79-S reverse of 78 news. A copy of his 2003 information update is posted on line at: http://mywebpages.comcast.net/davewang202/Research/1879sPAF/2003update.pdf He described Larry Briggs shortcut method for identifying the brand new VAM-34B coin. Some of his biggest news was the announcement of a 1879-S VAM-34 in a PCGS MS-64 holder sold at the Heritage Auction the night before. Previously unknown in mint state, this was an amazing buy which closed at common 79S rev 78 pricing. Congrats to David (of course he was the one to take the time and notice this rare VAM). [** OK, your editor has determined that this qualifies for Favorite Pick of the Week.] David also provided information about the minting process and how defects appear and propagate in dies. It sparked lively discussion about how researchers track die changes. His notes from the talk are online at:
http://mywebpages.comcast.net/davewang202/Research/1879sPAF/presentation.pdf
At the end of the session, all present
participated in "show and tell" with VAMs emerging from the pockets of
George Powell, Tom Friend, David, Rob and Jack Lee. It was great
fun. Please try to make the next SSDC meeting near you and share
with your fellow VAMers.
QUESTION ABOUT THE 1900-O VAM 29A
** I received an e-mail from Mark Cooper
regarding the Top 100 1900-O VAM 29A. I answered to the best of my
ability, but perhaps others may also have further insight into this
variety and possible imposters.
MC: Concerning the 1900-O VAM 29A, I have
seen a couple coins, both in BU, that have been labeled as 29A,
but the die crack appears to be an earlier state. There is a
much less pronounced die crack that runs up through the date, but
it is not nearly as bold. Have you seen any like this?
JB: It stands to reason that there are coins
with lesser die cracks that are technically 29As, but I'm pretty
sure there are coins from different dies that have strikingly
similar die cracks that are not VAM 29A.
MC: This is yet another case where research
can help save big bucks. I saw a dealer today who had one of these
pseudo-29A coins, and had a price tag of 375 on it. I think
though that anyone who was seeking a VAM 29A specifically would
be familiar with the Top 100 book and would probably recognize
it as such, and also might be why he hasn't been able to move
it.
Vol. 1, Issue 8 -- March 22, 2004
-------------------------=======######=======-------------------------
Welcome to another issue of the SSDC VAM-E. The VAM-E is
an edited compilation of questions, answers, and ideas
about VAM collecting or silver dollars in general. I'm
hoping you will find this a useful and enjoyable newsletter.
In this issue, questions about a 1922-D Peace dollar and the 1883-O "E Reverse", a clarification on the 1900-O VAM 29A, and Dave Borofski shares his favorite cherrypick.
If you wish to respond or post to the VAM-E, please send me
an e-mail at vam-e@varslab.com. You may submit a question,
an answer to someone else's question, a link to a web site
with interesting information, an interesting or amusing anecdote, favorite cherrypick, or an entire e-mail exchange with another person.
-------------------------=======######=======-------------------------
FAVORITE 'PICK
** Dave Borofski tells of a fruitful exercise in persistence.
Two years ago I attended a local show and was looking through a
dealer's offerings when he asked me what I was looking for and I
replied Dollar varieties. He said sarcastically, "better people
than you already looked through them and found nothing." I had
never seen this dealer before and I bit my tounge and kept on
looking determined to find something. I purchased two coins, an
1878-S and an 1880 for a total of $29. I later sent them to ANACS
and they both came back AU-55. The 78-S was a VAM 27 [B1 reverse]
and the 1880 was a VAM 39A ["E Reverse" with die break]. As a SSDC
member for twelve years, I learned that if you want to be a
successful cherrypicker you have got to do your homework, be patient,
and be prepared to lot closely at hundreds of coins.
Did I ever go back to this dealer ever again?? Every time he shows up!!!
QUESTION ABOUT 1883-O "E REVERSE" MORGAN
** A collector has a question about the designation of this "Hot 50"
variety, which Jeff Oxman helps clear up.
I have an example of this silver dollar and was hoping you
could provide me with the latest info on this variety. Did they
ever decide which VAM to title it? Kevin Flynn has it as VAM-22
and the old SSDC Hot 50 list says that it is VAM-36; that there
are no VAM-22's. Confusing. Also, do you have an idea what its
worth might be? Mine is MS-63, graded by PCGS. Kevin Flynn listed
it in his book at $150.00 in this grade back in 1998.
** Here's Jeff Oxman's take on these two varieties
John, you're doing a great job with the SSDC VAM-E discussion/
information group, and it's to your credit that it has gained
instant popularity. I thought I would contribute by addressing
one of the frequent questions I've received regarding the distinction
between the 1883-O VAM 36A and the VAM 22A. And what better to
place to discuss these VAMs than the SSDC VAM-E!
There is a bit of interesting history here. When the VAM Book
was published by FCI Press in 1976, the VAM listings for the
1883-O only went up through VAM 15. Then, over the next 15 years,
a tidal wave of new discoveries more than doubled the size of the
VAM Book, to the point that the much expanded 1991 VAM Book
included 1883-O listings up through VAM 38. Pertinent to our
discussion here, the VAM 22 listing designated the obverse die
as a "III-2-3 'Doubled 1' obverse," which by the way, is the same
obverse that is shared with the "Top 100" VAM 4. The reverse is
listed as the standard C3-a die, but Van Allen added this phrase
to his description: "Some specimens show an E die clash below
eagle's tail feathers." Initially, few VAM collectors realized
the importance of an 'E Clash,' so the listing drew hardly a ripple...
Fast forward past many other 83-O discoveries all the way up to
the VAM 36. This obverse is listed as "III-2-19, Doubled '18-3'.
Again, Van Allen adds the same phrase about an "E Clash" to this
C3-a reverse die description. And here matters stood for more than
half a decade.
In the mid-to-late 1990's, I wanted to feature the 1883-O varieties
with "Clashed E" in the "Hot 50" book I was putting together, so I
researched the frequency that the two different VAMs were encountered
by specialists. In my own experience, it was clear that the VAM 36
was the much more common variety. But when the dust settled, it
dawned on those of us interested in clashed varieties that other
than the original VAM 22 listing with "Clashed E," not a single VAM
22 with "Clashed E" could be accounted for!
The question was whether the VAM 22 existed at all (and was in fact
only an attribution error which was corrected as the VAM 36) or
whether the VAM 22 was an unrecognized ultra-rarity. Part of the
problem was that differentiating between the two obverses was more
difficult than supposed. The doubling of the "1" in both cases was
shockingly similar, and the extra "83" doubling on the VAM 36 was
quite minor. So, given the fact that it would be difficult to make
a distinction between two such similar obverse dies (and the reverses
were apparently the same), an army of specialists combed through
the inventories of dealers at major coin shows and local coin shops,
looking for the elusive VAM 22A. None was ever found.
The most logical conclusion was that VAMs 22A and 36A was the SAME
die pair, and that Van Allen most likely had made an attribution
error when he initially listed the VAM 22. (Van Allen has done a
magnificent job in keeping track of 2,500 varieties, but mistakes
certainly occur.) So, the "Hot 50" book approached the subject by
listing the VAM 36A and mentioning the VAM 22A as merely a possibility.
Then, in 2002 Brent Fogelberg called this writer and said that he
had finally found a VAM 22A. I must admit I was a little incredulous,
but he graciously sent the specimen to the SSDC mailing address.
And to my surprise and pleasure, a quick comparison to some VAM 36's
provided significant differences in the two obverses. And so, now,
the VAM 22A is back on collectors' radar screens!
Unfortunately, no other confirmed VAM 22A's have surfaced, but we
now know better than to say it will remain unique. And by the way,
if you're looking for a quick-and-easy method of distinguishing
the VAM 22A from the much more common VAM 36A, just look at the
inside of Liberty's ear on the obverse. EVERY VAM 36A I've seen
has die chips in the recessed portion inside the ear. Compare that
with the inside of the ear on the VAM 22A, which does not show any
die chips at all. Use this diagnostic on all your VAM 36A's and
you may come up with an ultra-rare VAM 22A! Then let all of us
know via the SSDC VAM-E.
QUESTION ABOUT A 1922-D PEACE DOLLAR
** J.D. Schumacher has an interesting 1922-D Peace dollar ...
JS: I am curious about what I am terming a "short stem olive branch"
for a better lack of description. Unlike the reverse on all
business strikes 1922-1935, this 22-D has a deliberately shortened
stem olive branch similar to the 22 proof. If you examine the
olive branch stem on all Peace dollars, it meets up with the
eagle's talon. On this 22-D, there is a noticeable "gap" (a
shortened branch) without indication of removal or error in the
stamping. The coin is extremely detailed.
** ... and Eric Justice has a response
EJ: Yes, this is an interesting die variety. You have found a 1922-D
with a B1 reverse. (a.k.a. "Early Reverse") VAM 1.
This is the same major reverse design used on some 1922 proofs,
some 1922 business strikes, some 1922-D business strikes and some
1922-S business strikes. These are believed to be the 1st business
strike dies made, therefore are also referred to as "Early Reverse".
On page 416 of the 3rd and 4th editions of the VAM book, Leroy
describes the design of the B1 reverse as follows: Detached
olive branch from eagle's foot, two hills to right of mountain
crag, detached talon from toe at rear of eagle's left claw, R
in DOLLAR is short, and rays are weak where they meet the tops
of D-AR.
Most 1922 (PDS) peace dollars have an attached olive branch
and a 3 hill reverse design (VAM 2 and higher #s).
The design transition of the peace dollar was as follows:
1921 High Relief
1922 High Relief Business Strike (Unique)
1922(PDS) B1 Reverse
1922(PDS) B2 Reverse
There are 27 varieties for 1922 with B1 reverses. There are 13
for 1922-D. See if yours matches one of these descriptions.
VAM 1A - Long die break from hair bun to below Y.
VAM 1B - Obverse die gouge, nearly horizontal & irregularly
shaped, from T in LIBERTY, at upper intersection
of horizontal and vertical bars, going left to bun
VAM 1C - Small rim-to-rim die crack/break cutting thru Y,
higher on upper oblique than lower.
VAM 1D - Similar to 1C, die crack crosses oblique arms at
about the same height. Connects with long (nearly)
vertical die crack in right field. LDS had small
die break at point of intersection, below and attached
to lower oblique arm.
VAM 1E - Long curved horizontal die crack/break below IN from
rim to neck.
VAM 1F - Die gouge through eye, parallel to upper eyelid.
VAM 1G - Triangular die break from rim into field below IN,
there is a long die gouge going through N, and another
through top of 1, intersecting in the field near the
die break.
VAM 1H - Semicircular die crack in left field parallel to rim,
with intersecting radial die crack from rim above IN.
VAM 1I - Small reverse die break from rim into field at U in
UNITED, at end of a long die crack.
VAM 1J - Retained obverse cud Y crossing oblique arms at same
level, no die cracks. LDS has small die chip within Y,
attached to lower arm.
VAM 1K - Cud at rim below R in DOLLAR
VAM 1L - DBO rim to top left of Y w/ die crack extending
downward thru hair strand & V.
VAM 1M - Retained cud thru 1 in date.
CLARIFICATION ON THE 1900-O VAM 29A
** Last week, Mark Cooper wondered about earlier die states of the Top
100 VAM 29A. Michael Fey offers some clarification.
VAM 29A should not be confused with VAM 35, which has "similar" die
cracks. However, the die cracks originate in different places relative
to denticles below the point of the V of Liberty's neck.
An early die state VAM 29A is not as desireable as the late die state
and should not command as much of a premium. However, there may be
some variety specialists who would like an earlier die state in order
to show die progression.
SPRING ULTRA RARITIES AUCTION UPDATE
Consignments continue to arrive for the 2004 Spring Ultra Rarities
Auction. If you plan to consign, please keep in mind that the
deadline for submission is April 2, 2004.
Consignment documents can be downloaded from the web RCI's newly
updated website at http://www.rcicoins.com. Just click the Spring
Ultra Rarities button and then choose the "Click Here" button.
Please download and execute all documents before sending to RCI.
Consignors and subscribers of Top 100 Insights & Value Guide will
receive a copy of the auction catalog at no cost.
Good luck in the auction!
Vol. 1, Issue 9 -- March 29, 2004
-------------------------=======######=======-------------------------
Welcome to another issue of the SSDC VAM-E. The VAM-E is
an edited compilation of questions, answers, and ideas
about VAM collecting or silver dollars in general. I'm
hoping you will find this a useful and enjoyable newsletter.
In this issue, more clarification on the 1900-O VAM 29A, a new 1921 discovery, and Ash Harrison tells of a fruitful week.
If you wish to respond or post to the VAM-E, please send me
an e-mail at vam-e@varslab.com. You may submit a question,
an answer to someone else's question, a link to a web site
with interesting information, an interesting or amusing anecdote, favorite cherrypick, or an entire e-mail exchange with another person. I can't make this stuff up all by myself.
-------------------------=======######=======-------------------------
FAVORITE 'PICK
** Ash Harrison had a good week
I've had a big week cherrypicking. I have found a 1903-S Micro-S
in XF45. I got the 1880 VAM 7 in AU53 or 55. I picked up 2 more
Belly Button Bird coins for my collection. An 1878 VAM 115 Triple
Blossoms was next. But the one that was really interesting is
the 1881-O VAM 27. It is about MS61 but it is a DMPL! Does anyone
know of other DMPL examples to have turned up?
1883-O "E REVERSE" MORGAN EPILOGUE
** Michael Fey provides first-hand comparisons of the VAM 22A and 36A
Within 2 hours of reading the latest SSDC VAM-E, I was looking
through a roll of 1883-O Morgan dollars that a fellow dealer brought
over, and "Eureka," I found a VAM 22A in MS 62 Semi-PL! The E is
far stronger than on the VAM 36A, and as Jeff advised, the obverse
has no die chips in the ear!
PRICING QUESTION FOR 1888-O SCARFACE
** William Scholl has a chance to buy an 1888-O VAM 1B "Scarface"
in MS62 and would like recent pricing information.
PICTURES OF THE 1900-O VAM 29A AND 35A
** Rob Joyce provides comparisons between the VAM 29A AND 35A
I have a page on line that explains shows the difference between a
1900-O VAM 29A and VAM 35A. It might help those following last week's
discussions of the VAM 29A.
http://www.rjrc.com/vams/1900_o_vam29a.htm
NEW 1921-S DISCOVERY
** There have been a lot of 1921 discoveries lately. Michael Fey
provides a new one.
While attending the Baltimore show on March 12, 2004, I found a PCGS
MS64 1921-S Morgan dollar that, from a distance, looked absolutely
horrible. It had such extensive hairlines all over the obverse that
no matter how I turned the coin in the light, it was the most
hairlined coin that I ever saw...yet it was certified in a PCGS MS64
holder. The reverse was perfectly normal.
Having faith that PCGS would not certify such an extensively hairlined
coin, I looked closer. Whoa! Those hairlines were thousands of die
coarse polishing lines, and they were all over the obverse. Finding
beauty in ugliness, I bought the coin, determined that it had
extensive clashing underneath the die polishing lines, and sent
it to Leroy Van Allen for possible attribution.
Well, I got it back today from Mr. Van Allen with a red "Wow!!"
and a new variety listing of "1I--Die excessively polished an filed
with heavy raised lines all over fields of entire obverse"
Why the die worker didn't finish this obverse die with fine polish
or a fine emery cloth will likely remain a mystery, but I can tell
you that in all my searching of Morgan dollar varieties (and other
coin types), including 1921-S, I have yet to see a working die with
more gross die polishing lines than this one.
Vol. 1, Issue 10 -- April 5, 2004
-------------------------=======######=======-------------------------
Welcome to another issue of the SSDC VAM-E. The VAM-E is
an edited compilation of questions, answers, and ideas
about VAM collecting or silver dollars in general. I'm
hoping you will find this a useful and enjoyable newsletter.
In this issue, Jeff Oxman writes about "overlapping reeding," John Wilson shares an interesting cherrypick.
If you wish to respond or post to the VAM-E, please send me
an e-mail at vam-e@varslab.com. You may submit a question,
an answer to someone else's question, a link to a web site
with interesting information, an interesting or amusing anecdote, favorite cherrypick, or an entire e-mail exchange with another person. I can't make this stuff up all by myself.
-------------------------=======######=======-------------------------
FAVORITE 'PICK
** John Wilson shares an inadvertent cherrypick
About three months ago, I was checking the various on-line auction
sites. I am a Morgan VAM guy and there was nothing of real interest.
Soooo, I started searching the Peace dollars section as I was bored.
Nothing caught my eye until I was saw a 1925 NGC MS-64 (Heritage
Auction). At first, I thought, there was a mistake as the photo
showed a "S" mink mark on the reverse. This would make it an 1925-S
MS-64 and about $500 difference in price. I double checked the
holder again, and sure enough, it said "1925" ( no mention of an
"S"). So, I thought "why not," and bid on the coin. Final price
with shipping, tax, and "juice" was $53.85. I waited and waited and
it "finally" arrived in the mail.
Upon opening the package, the waters parted and I about had a heart
attack, there it was, an "S" mint mark in a 1925 holder. I put the
coin away for a week as I had other commitments pending. I later
re-checked it just to see if it was a "Hot 50" peace dollar, and
wouldn't you just know it, it was a VAM 3! That made it tied for
the finest known. I sent the coin in the next day to NGC to have it
attributed and re-slabbed. Two weeks later, I received the now
"1925-S" MS-64 NGC VAM 3 back in the mail. It was later consigned
to a Teletrade Auction where it sold for $550.00. This was my cherry-
pick that wasn't.
CALL FOR NEW DISCOVERIES
** Last week, Michael Fey reported his new 1921-S VAM 1I discovery.
I encourage anyone credited with new discoveries in the future to
forward me a report so I can include them in the VAM-E.
CLOSE ENCOUNTERS OF THE THIRD DIE
** Jeff Oxman discusses a new type of collar die variety
Rarely does a new "type" of variety in the Morgan dollar series come
to light, but hold on to your hats, and let me introduce "Over-lapping
Reeding" (OLR) varieties. Even the name was controversial, as the
original moniker was "Doubled Reeding" varieties, which best describes
the feature that characterizes this variety "type." But putting the
name aside for a moment, this unheralded category of VAM collecting
represents uncharted territory for VAM enthusiasts, and as we all know,
new discoveries tend to be the fuel that powers much of the Morgan
and Peace dollar variety market today.
Let me begin with a bit of coining theory. Simply put, the collar is
the third die involved in striking coins. Even the most neophyte
collector knows that it takes an obverse and a reverse die to strike
a silver dollar in the coin press machinery. But many do not realize
there is yet a third die, called the "collar," which serves to hold
the planchet in place while the other two dies impart the image onto
the incoming blank disc of metal.
The collar, which looks much like a giant metal washer, does something
else of importance, as well. The inside of the collar (which holds
the planchet) has a series of machined vertical grooves and ridges
which impart what we call "reeding" to the edge of the coin. The
alternating grooves and ridges are uniform in width on the inside
of the collar, and every coin struck in that particular collar will
have the same number of reeds, which in the Morgan dollar series,
varies from 157 reeds to 194 reeds.
But here the plot thickens. As a result of incorrect machining, a
few cases have been found with noticeable doubling on some of the
individual reeds. This doubling normally occurs in at least two
places around the outside of the struck coin. It's almost as if
the edge reeding goes "off track" in a couple of spots on the inside
of the collar. And this anomaly forms the foundation of the new
"Over-lapping Reeding" class of varieties.
In terms of a progress report, so far only three different dates
can boast of known Over-Lapping Reeding varieties. Specifically,
doubled reeding has been found on at least two different VAM examples
dated 1883-O, 1884-O and 1892-O. Note that all three dates are New
Orleans Mint products. It has been suggested that this has something
to do with the minting procedures at New Orleans. However, it should
be noted that all dies, including obverse, reverse AND collar dies
were produced exclusively at the Philadelphia Mint, and then shipped
to the respective Branch Mints. So the source of the problem must
have been that Mint. More research must be undertaken to determine
whether outside vendors were involved with the collar dies. But in
any case, the completed collars were apparently all shipped from
Philadelphia, and this lets New Orleans off the hook.
Reed counts are important for a number of reasons, including deter-
mining counterfeit coins which have the wrong reed counts. For example,
all 1893-S specimens have 187 reeds. So, while holding an 1893-S
in your hands, if you count the reeding and the specimen has 181
reeds, you have reason to question the authenticity of the coin.
Possibly the mintmark has been altered from an 1893-O, which would
have a 181 reed count. Indeed, in such a case the potential cost
savings from not purchasing a bogus coin is immense. An 1893-O in
MS63 is a $5,000 coin, whereas an 1893-S in the same grade is worth
at least $50,000!
A second reason for counting the reeding is that a case can be made
that the same die pair with different reeding is really a different
variety! For instance, the 1878-P 8-TF VAM 6 is known with three
different reed counts, namely, 179, 189 and 193 reeds. In reality,
each of these represents a different VAM 6! At a time when die states
of known varieties are receiving VAM designations in vast numbers, it
may be time to look at reeding varieties as a potentially worthy
source of new VAM listings.
On the negative side, the only major obstacle to a wide-spread interest
in reeding varieties is the fact that so many coins have already been
slabbed. Once in holders, the reed count is pure conjecture. But for
researchers, the challenge is to find coins before they're put in
holders. As for the future, this article will at some point be
incorporated into an SSDC Special Report, but the idea here is to give
SSDC members a "heads-up" on this interesting new area of VAM collecting.
Vol. 1, Issue 11 -- April 12, 2004
-------------------------=======######=======-------------------------
Welcome to another issue of the SSDC VAM-E. The VAM-E is
an edited compilation of questions, answers, and ideas
about VAM collecting or silver dollars in general. I'm
hoping you will find this a useful and enjoyable newsletter.
In this issue, Lewis Rosenbaum talks about VAMs in GSA holders, John Wilson has a question about a "Top 100" VAM.
If you wish to respond or post to the VAM-E, please send me
an e-mail at vam-e@varslab.com. You may submit a question,
an answer to someone else's question, a link to a web site
with interesting information, an interesting or amusing anecdote, favorite cherrypick, or an entire e-mail exchange with another person. I can't make this stuff up all by myself.
-------------------------=======######=======-------------------------
FAVORITE 'PICK
Must have been a slow week. Maybe everyone's working on their taxes.
I managed to find some nice "Top 100" coins at a club show last
weekend -- an 1878 VAM 70 in MS63 and an 1878 VAM 220 in AU. While
neither of these qualify for my favorite cherrypick, it does show
that these coins are still available. I've found that I have better
luck finding this kind of stuff at small shows than at large ones.
VAM HISTORY
** Michael Fey provided this picture of himself and Jeff Oxman at the
first annual VAM Thing at the FUN show.
http://www.funtopics.com/15LG.jpg
RESEARCH REPOSITORY
** A web site update from Logan McKechnie
Dave Wang and Mark Kimpton will be storing their research and
photographs on my web site. The information on the site can be reached
at http://vamsandmore.com. I hope to keep the site updated and get
rid of my duplicate coins as well.
1879-O VAM 4 and 28
** John Wilson wants to know the difference between the 1879-O VAM 4
and VAM 28.
The 1879-O/Horizontal O VAM 4 and VAM 28 share the same reverse, and
one of the only "rotationally challenged" mintmark mispunchings (the
1895-S/Horizontal S, another "Top 100" coin, is another) of the Morgan
dollar series. The VAM 28, in addition to the O/Horizontal O, has
a repunched date, most visible on the right side of the 7.
VAMS IN THE NON-CC GSA DOLLARS
** Lewis Rosenbaum talks about VAMs in GSA holders
Did you know that there are VAMs in the non-CC GSA silver dollars?
The GSA silver dollar sales (7 sales from 1973 to 1980) sold
approximately three million Carson City silver dollars. There also
were approximately 130,000 non-CC silver dollars sold. The non-CCs
were sold in the 2nd GSA Sale July 1973 in two categories
(1) around 30,000 uncirculated in hard plastic holders like the
Carson City dollars and
(2) around 100,000 circulated in flat pack cellophane holders
(includes approximately 13,400 1878-CC).
VAMs occur in both categories. I am going to tell you about one of
the VAMs -- the 1878P 7/8TF.
There are 7/8TF in both the uncirculated category and the circulated
category. Over the years I have seen, or it has been reported to me,
which VAM the 7/8TF are . So far all have been VAM-37. At first thought
this is surprising that all would be the same VAM. However, there is
a reasonable explanation. A point to note is that up to a few months
ago all the 7/8TF I have seen or reported to me are uncirculated
examples, all are very baggy dollars, but uncirculated. The 7/8TF
in the flat pack cellophane are uncirculated. In my estimation the
uncirculated dollars in the hard plastic case would grade MS62, the
uncirculated dollars in the flat pack would grade MS60 or MS61.
There was a small number of uncirculated 7/8TF dollars in the non-CC
silver dollar holdings. These 7/8TF would have been in the holdings
deemed as "uncirculated bags". Some of these were selected for the
non-CC uncirculated category and the remaining were put into the
non-CC circulated category. The circulated category of non-CC GSA
dollars has many uncirculated dollars.
Now to the point of this story -- recently I obtained a circulated
(XF) 7/8TF in the flat pack cellophane . To my amazement it is a
VAM-37! I was confident that a circulated 7/8TF would more likely
be one of the other 7/8TF VAMs -- maybe a VAM-33 or a VAM-38. Now
my search is on for more 7/8TF non-CC GSA silver dollars.
I will have more information about VAMs in non-CC GSA dollars in
a future VAM-E.
Vol. 1, Issue 12 -- April 19, 2004
-------------------------=======######=======-------------------------
Welcome to another issue of the SSDC VAM-E. The VAM-E is
an edited compilation of questions, answers, and ideas
about VAM collecting or silver dollars in general. I'm
hoping you will find this a useful and enjoyable newsletter.
In this issue, Mark Kimpton talks about clashed dies, Michael Fey has a couple new discoveries.
If you wish to respond or post to the VAM-E, please send me
an e-mail at vam-e@varslab.com. You may submit a question,
an answer to someone else's question, a link to a web site
with interesting information, an interesting or amusing anecdote, favorite cherrypick, or an entire e-mail exchange with another person. I can't make this stuff up all by myself.
-------------------------=======######=======-------------------------
FAVORITE 'PICK
Another slow week. Please send favorite, memorable, unlikely,
accidental, karmic, or otherwise interesting to read cherrypicks,
like this one:
A few years ago, I was in the process of establishing that the coin
once known as "1896/4," then later just a die gouge (VAM 1A) was
really a repunched date (now VAM 20). I did this by overlaying
pictures of the date over the gouge on a coin I had and showing how
it lined up.
Flipping forward in the VAM book, I noticed that the 1896-O VAM 1A
might also be a repunched date, but I didn't have this coin. Lucky
for me, there was a coin show that Sunday -- albeit a small club show,
Nevertheless, this would give me the opportunity to look for it. I
had pretty much decided that in the unlikely case that there was one
there, it would either be too worn to be useful or MS64. No more than
20 minutes after parking the car, I plunked down $90 for a nice AU53
specimen. I proved my point, and it's now known as VAM 19.
NEW DISCOVERIES
** Michael Fey shares a couple new discoveries
1921-S VAM 1B7 -- A seventh (!) die state of the "Thornhead" die
progression. This latest die state features a rather large spike
through the Y of LIBERTY and into Liberty's head.
1889 VAM 5B -- Filled 'r' in 'trust.' Clash mark above eagle's right
wing shifted to the right, extending into the center of the G of
IGWT, as a result of rotated dies.
CLASHING AS A TOOL TO DETERMINE DIE STATES ADN DIE MARRIAGES
** Mark Kimpton discusses clashed die Morgan dollars
Clashed dies result when a planchet (blank metal) fails to enter the
coining press properly. The result is that dies strike each other
instead of striking a coin. This imprints the die with part of the
opposite dies design. Once this occurs, any coins struck from that
point on will show evidence of clashing. This provides an easy to
see indicator that marks the time of the clashed event. Coins can
then be seperated into pre and post clashing stages.
It has been my experiance that apporximately 1 in 25 morgan dollars
will show evidence of clashing. Clashing can occur anytime in the
minting process, and not all dies will clash. Coions such as the
1878 8TF VAM 14.1/14.1A clash early in the life of the dies. (To
date NO VAM 14.1's have been found without clashing). Some clashing
occurs in the middle of the life of a die pair, such as the 1887
VAM 12 and 12A, where half of the "alligator eye" variety shows
clashing the other half does not. There are examples of dies
clashing toward the end of a pair of dies production as well. One
such example is the 1878 P 7/8 TF VAM 41B.
The 1878 7/8 TF VAM 41 is a popular coin among collectors as it has
the strongest 7/8 TF reverse in the Morgan dollar series and is
included among the TOP 100 varieties. The 1878 7/8 TF VAM 41 reverse
was later polished down to create the variety known as VAM 41A
(formerly VAM 35 we believe). What is not common knowledge is why
the coin was polished down. I believe the answer to be.... CLASHING
(of course). To confirm this suspicion I set out to find a late die
state 1878 7/8 TF VAM 41 that showed clashing. I found it. The
1878 7/8 TF VAM 41B has the same full 7/8TF of the VAM 41, but also
has the clashed remains of an N in front of Mrs. Libertys neck!!
I was quite thrilled to find a clashed letter transfered onto a
Top 100 coin!!
Now, keep in mind that VAM #'s are assigned by their date of
discovery not by their mintage order. This is why the 1878 8TF
VAM 9 is considered the "First Morgan dollar" and not the VAM 1.
The VAM 1 was described first, but it was later found out by
research that it was the VAM 9 that was the first coin struck at
the mint. So in the story of the 1878 P 7/8 TF VAM 41, the VAM 41
then the VAM 41A then the VAM 41B were discovered in that order.
However, the VAM 41B is actually an EARLIER DIE STATE than the
VAM 41A.
It was understanding the relationship of clashing and its relationship
to die marriages that led to the discovery of the new 1878 P 7/8 TF
VAM 41B. It si this same understanding that I hope leads to several
other potential discoveries. I believe there are many clashed
varietes yet to be found. Let me share a few:
1) 1878 P VAM 80A (this would be a LDS-late die state- clashed VAM 80)
The 1878 P 8TF VAM 22 shows clashing on the obverse but not on
the reverse. The obverse die was previously used to strike the
1878 P VAM 80. (as per the SSDC 7/8 TF book)
2) 1878 P VAM 81A (LDS clashed VAM 81)
The 1878 P 7/8TF VAM 33 shows clashing on the obverse (the reverse
of the coin was previouly used to strike VAM 44 as so is different
as well). The clashed obverse on the VAM 33 should have occured
during the time frame the obverse die was used to strike VAM 81's.
3) 1878 P 8TF VAM 17A (LDS clashed VAM 17)
The 1878 P 7/8TF VAM 42 shows clashing on the obverse and a polished
down reverse. The obverse die for VAM 42 was previouly used to
strike the 1878 P VAM 17.
4) 1878 P 8TF VAM 18A (LDS clashed VAM 18)
The 1878 P VAM 20 shows clashing on the obverse and none on the
reverse. The obverse die for VAM 20 was previouly used to strike
VAM 18.
5) 1879 S Rev 78 VAM 50A (LDS of VAM 50)
Based on the book by David Wang on the subject of 79S Rev 78's,
the photo for VAM 51 shows a clash thru the letters of ST in the
word TRUST on the reverse. All of the VAM 51s I am aware of show
clashing on the reverse but none on the obverse. The reverse die
of the VAM 51 was previously used to strike VAM 50's.
The clashing of each of these possible LDS coins may have resulted in
only a few coins being struck, or it may have resulted in the
destruction of the die, which would explain why the die was replaced.
I encourage you to join me in the hunt for these potential discoveries!!
Time will not allow me to go into much more detail for now. That is
part of the reason why I am writing a book to highlight the many
fascinating aspects to clashed Morgan dollars. I am hoping this has
piqued your interest enough to look for clashed varieties.
Vol. 1, Issue 13 -- April 26, 2004
-------------------------=======######=======-------------------------
Welcome to another issue of the SSDC VAM-E. The VAM-E is
an edited compilation of questions, answers, and ideas
about VAM collecting or silver dollars in general. I'm
hoping you will find this a useful and enjoyable newsletter.
In this issue, Grant Hobika shares some cherrypicks and friendly advice, and I want to hear about your websites.
If you wish to respond or post to the VAM-E, please send me
an e-mail at vam-e@varslab.com. You may submit a question,
an answer to someone else's question, a link to a web site
with interesting information, an interesting or amusing anecdote, favorite cherrypick, or an entire e-mail exchange with another
person. I can't make this stuff up all by myself.
-------------------------=======######=======-------------------------
FAVORITE 'PICK
** Grant Hobika shares some Teletrade cherrypicks.
I bought many coins sight-unseen from Teletrade over the years, and
there were some beauties and some pure-dumb-luck better VAMs mixed in
with the average stuff too. When I finally got a computer about a year
ago I spotted what I felt might be an 8-TF VAM 15. I bid strong
enough to weather the flurry of last second bids that I knew would
come and sure enough -- P.C.G.S. PAYDIRT!
I knew I could add a few other coins to my total without paying any
additional postage so I threw in a bid on the only other 1878 listed
that night, a 7-TF with no picture. It sold below "bid" so I didn't
care what VAM it might happen to be. Would you believe I ended up with
TWO white, prooflike, Choice UNC, Top-100 VAMs (numbers 15 & 70) in
consecutively numbered PCGS holders!
Now I surmise that someone with an appreciation for better VAMs --
perhaps even one of the original pioneers -- may have suffered some
misfortune, and his little collection of gems was sold by someone else
(probably a relative) who was ignorant of their secret true worth.
I've often wondered if other wondrous Morgan varieties might have been
in PCGS holders on Teletrade that night!
Let us all take heed and plan ahead, so the same fate does not
befall our personally treasured VAM dollars. Each one of them is
endowed with its own story of the hunt and, most especially, with
cherished memories of people we shared our knowledge and enthusiasm
with, not to mention beer, meals, roadtrips, and hotel rooms.
We owe it to our heirs to get good value for these special coins,
and we owe it to our friends in the hobby who may wish to obtain some
of our trophies as mementos of a dearly departed comrade. I know
that I consider priceless a certain polished XF '86-O E-reverse which
Terry ("the best things in life aren't things") Armstrong gave me
when I mentioned to him I'd never found one!
CALL FOR WEBSITES
In a future issue of the VAM-E, I'd like to present a compilation of
all the VAM-related websites people have built. Send me your VAM-
related website and I'll include it in the list.
CLASHED VAM BOOK IS TAKING SHAPE
** Mark Kimpton updates progress on his book, but needs some coins.
As many of you may know, John Roberts, Leroy Van Allen and I are
working to put together a Clashed VAM Variety book. This last year
alone has seen the number of clashed varieties DOUBLE. From the time
Francis Klaes' 1963 book till now, there have been over 100 new
varieties noted. This is a field of RAPID growth and interest.
Given this rapid change and few references, we have felt the time
for a book dedicated for Clashed varieties has come.
This task has been a major undertaking. It has involved numerous
resourses and aid from any number of individuals. A task this size
has to draw off of every available corner of the field to try to be
as comprehensive as possible. This is why I write to you now.
I would like to ask the VAM community for its collective help.
There are a handful of coins for the clashed variety collection
that I have not had the chance to see and to study. I am in pursuit
of these coins and any information I can gather on where to contact
to either borrow or to purchase them. If you would happy to know
where these coins reside I would greatly appreciate having you
contact me with their location and how I can contact the owners to
make arrangement regarding the coins.
The list is as follows:
1880 VAM 33A
1883-O VAM 1C
1883-O VAM 49A
1887 VAM 1B
1889 VAM 23A
1889-CC VAM 4A
1891-O VAM 3A
1902-O VAM 16A
1921 VAM 3B2
1921 VAM 34A
Any help in locating these coins is greatly appreciated.
NEXT ISSUE
** Due to business travel next week overseas, the next issue of the
VAM-E will be mailed out on Monday, May 10th. It promises to be
a good one. Much to my disquietude, however, this means I will
be unable to attend the CSNS show in Milwaukee. I'll leave it
as an exercise for those readers that are going to the show to
find something interesting and let me know about it. Also, let
me know what kinds of topics you'd like to see discussed in future
issues of the VAM-E.
Vol. 1, Issue 14 -- May 10, 2004
-------------------------=======######=======-------------------------
Welcome to another issue of the SSDC VAM-E. The VAM-E is
an edited compilation of questions, answers, and ideas
about VAM collecting or silver dollars in general. I'm
hoping you will find this a useful and enjoyable newsletter.
In this issue, part one of a fascinating old newspaper article, PCGS recognizes a Peace dollar VAM, and the spring Ultra Rarities auction is launched.
If you wish to respond or post to the VAM-E, please send me
an e-mail at vam-e@varslab.com. You may submit a question,
an answer to someone else's question, a link to a web site
with interesting information, an interesting or amusing anecdote, favorite cherrypick, or an entire e-mail exchange with another person. I can't make this stuff up all by myself.
-------------------------=======######=======-------------------------
NEW DISCOVERIES
** 1921 has proven to be a fruitful year for finding new discoveries
lately.
1921 VAM 3A1 -- Revision of tail-bar 1921 with no gouges in either
L or R of DOLLAR. The former 3A1 and 3A2 are now 3A2 and 3A3,
respectively.
1921-D VAM 1AS -- Die break on 3rd left star similar to 1AG, breaks
on bottom of 92 in date.
1921-D VAM 14 -- Doubled to tripled right stars, tripled to quadrupled
left stars. Mint mark completely filled with grease, actually
slightly incuse in field.
1921-D VAM 15 -- TED STATES O slightly tripled toward rim. Same
obverse as VAM 13 with date and stars doubled and tripled towards
rim.
1921-S VAM 5A -- VAM 5 obverse severely polished so that denticles
from K-9 to K-11 are detached from rim
1921-S VAM 8 -- Date doubled to left, all obverse stars doubled to
quadrupled.
CALL FOR WEBSITES
I've only received a few websites so far. There must be more.
Send them and I'll list them next week.
1883-CC VAM 8 INFO REQUESTED
Dana Russo is interested in seeing good pictures and/or descriptions
of the 1883-CC VAM 8.
PCGS RECOGNIZES A PEACE DOLLAR VARIETY
Eric Justice, Peace dollar researcher, reported that a 1923 "Whisker
Jaw" dollar was slabbed by PCGS with the "Whisker Jaw" variety noted.
Mainstream recognition of Peace dollar varieties cannot be far behind.
SPRING ULTRA RARITIES AUCTION LAUNCH
** Michael Fey is ready with the Spring Ultra Rarities VAM auction
Rare Coin Investments (RCI) will be conducting its 5th Mail Bid
auction of rare Morgan and Peace silver dollar varieties with the
mailing of its Spring, 2004 issue of Top 100 Insights and Value Guide
during the last week of May, 2004. To view auction lots, please
visit RCI's website at http://www.rcicoins.com and follow click-
through links to the Spring, 2004 Ultra Rarities Auction. Hardcopy
of the 30 page auction catalog which includes close-up images of
variety features is available from RCI for $5 to cover shipping
& handling. The auction closes on Wednesday, June 16th at 9 PM EST.
According to Michael S. Fey, the firm's President, "The most advanced
collectors of Morgan and Peace silver dollar varieties will participate
in the auction. Consignors will find our Spring Ultra Rarities
Auction a ready market for rare die varieties, while collectors will
be able to acquire rare die varieties with the confidence that they
are correctly attributed and accurately described."
For further information on the Spring, 2004 Ultra Rarities Auction,
or to become a subscriber to Top 100 Insights and the Top 100 Value
Guide (and receive a free auction catalog), send a check or money
order for $19.95 for 1 year, or $54.95 for 3 years to RCI, at P.O.
Box 9157, Morris Plains, NJ 07590 or call (973) 252-4000;
FAX (973) 252-0481; E-Mail: Feyms@aol.com, or visit their web site at
