doc1887 VAM 1A Donkey Tail • PCGS begins
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1887 VAM 1A Donkey Tail • PCGS begins
VA M VIEW DECEMBER 2005 1887 VAM 1A “Donkey Tail”: Scarce, desireable and just plain fun, it’s a variety well worth looking for. • • • • • • 1887 VAM 1A Donkey Tail PCGS begins attributing VAMs A beginner’s guide to Peace dollar VAMs Be careful VAM sellers! Identifying 1899 Micro-O varieties 1,025 more recent VAM sales prices VA M V I E W IN 4 – PCGS NEW DECEMBER 2005 ISSUE #2 THIS ISSUE: BEGINS ATTRIBUTING VAMS Largest third party grading firm is recognizing 275 Morgan and 50 Peace VAMs, and it may be just a start. 8–A BEGINNER’S GUIDE TO PEACE DOLLAR VAMS Helpful hints and lots of photos about what to look for and where in expanding your variety collecting efforts. 11 – THE THRILL OF THE HUNT A toy microscope opened up the VAM world for this longtime collector and put the joy back into her collecting. 12 – 1887 VAM 1A “DONKEY TAIL” Scarce, desireable and just plain fun, it’s one VAM that should be on everyone’s top 10 cherrypicking list. 14 – BE CAREFUL VAM SELLERS! If “The Top 100 VAM Keys” is your only value guide, then you may be practically giving away some coins. 16 – 1899 MICRO-O IDENTIFICATION MADE EASY Here are clear and easy-to-follow instructions to accurately attribute VAMs 4, 5, 6, 31 and 32. VAMVIEW is published quarterly (at least that’s the plan) by three guys who ought to know better but are doing it anyway. Our goal is to increase knowledge and appreciation for VAMs and VAM collecting. Contributing Editors: Rob Joyce, Eric Justice, Mark Kimpton, Jack Lee, Jeff Oxman, Phil Perdue, Ash Harrison ...and many others we haven’t asked yet, but we know you’re out there! Staff: Tim Cannard Dennis Halladay Logan McKechnie VAMVIEW send all correspondence to: [email protected] –2– DECEMBER 2005 ON THE VAM BOOKSHELF The last three years have seen an explosion in growth and interest in Morgan dollar VAM varieites. Nowhere is this more evident than in the field of clashed die varieties, where the number of varieties has grown from less that 25 in 2002 to more that 175 today. Along with this growth has come a number of extraordinary discoveries, which have been grouped into what is now known as the “Super CD” (Clashed Die) collection, which are clashed varieties in a class by themselves. Much like the Top 100 and Hot 50 collections, this group highlights the most impressive examples of clashed VAMs known. The majority of collectors, even many advanced collectors, have been unaware of recent finds in this field. But that is about to change. With the publication of “Elite Clashed Morgan Dollars”, collectors will be able to identify some of the most extraordinary Morgan varieties known to exist. The book highlights the most impressive examples of clashed Morgan dollars and includes examples from both the Top 100 and Hot 50 lists, plus the 25 Super CDs. While most Morgan dollar collectors are aware of the “E” reverse type of clashed varieties, many are not aware that exciting new clashed letters have been found on most of the VAMVIEW known Top 100 and Hot 50 coins as well. This is in addition to the 20 varieties of the Top 100 and Hot 50 collections that have been discovered in previously unknown clashed die states. These later clashed die states are almost always a harder-to-find and more interesting variety. Copies of “Elite Clashed Morgan Dollars”are available direct from the author for $24.95 + $3.95 shipping. Mail checks or money orders to: Mark Kimpton P.O. Box 66 Lithopolis OH 43136 or order via e-mail by sending PayPal payment to: [email protected] –3– DECEMBER 2005 PCGS JOINS THE PARTY . . . and VAM collecting may never be the same. It’s not as landmark an event in VAM history as Van Allen joining forces with Mallis, but the September 22 announcement by PCGS that it would begin attributing 277 high profile Morgan varieties and 52 Peace varieties is close. In terms of expanding VAM demand by the numismatic marketplace, it may have a bigger impact over the long term. Although attribution efforts by the largest third party grading firm are only modest in scale and come years after ANACS, NGC and other grading firms began doing so, we believe they will nonetheless validate VAMs and VAM collecting in a way that has never occurred before. Over time, the mere presence of “Top 100”, “Hot 50” and “VAM” on PCGS holders will have a gradual additive effect of familiarizing coin dealers and non-VAM collectors with these terms, and it is reasonable to assume that some will want to learn more about them. Morgan VAMs now designated by PCGS date 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 8TF 1878 7TF 1878 7TF 1878 7/8TF 1878 7/8TF 1878 7/8TF 1878 7/8TF 1878 7/8TF 1878 7/8TF 1878 7/8TF 1878 7/8TF 1878 7/8TF 1878 7/8TF 1878 7/8TF 1878 7TF 1878 7/8TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF description on holder PCGS coin # VAM 1 Spear Point 133784 VAM 2 Lines in LIB 133785 VAM 3 Spiked Eye 133786 VAM 4 Denticle Chip 133787 VAM 5 Doubled RIB 133788 VAM 6 Pierced Eyelid 133789 VAM 7 Tripled E 133790 VAM 8 Stick Feather 133791 VAM 9 1st Die Pair 133792 VAM 10 Notched 7 133793 VAM 12 Notched Star 133794 VAM 14 Chip in Ear 133795 VAM 14.1 Alligator Eye 133796 VAM 14.2 Polished Ear 133797 VAM 14.3 Doubled Bow 133798 VAM 14.4 Concave Reverse 133799 VAM 14.5 Open Nostril 133800 VAM 14.6 Dot on Ear 133801 VAM 14.7 Flakey Ear 133802 VAM 14.8 Spiked Eye 133803 VAM 14.9 Tripled Eyelid 133804 VAM 14.10 Cracked Bonnet 133805 VAM 14.11 Wild Eye 133806 VAM 14.12 Eye Dots 133807 VAM 14.13 Doubled Eyelid 133808 VAM 14.14 Eye Chip 133809 VAM 14.15 Lines in Hair 133810 VAM 14.16 Wild Lips 133811 VAM 14.17 Chip in Ear 133812 VAM 14.18 Broken 7 133813 VAM 14.19 Broken 8 133814 VAM 14.20 Boll Lines 133815 VAMVIEW –4– VAM 15 Doubled Liberty VAM 16 Tripled Stars VAM 17 Diagonal in 8 VAM 18 Doubled Date VAM 19 Doubled Date VAM 20 Doubled Date VAM 21 Broken R&B VAM 22 Polished LIB VAM 23 Crazy Lips R78 VAM 30 Extra Talons R78 VAM 31 Lines Thru Leg Weak VAM 32 7/3 Weak VAM 33 Dbl Legs Weak VAM 34 7/4 Strong VAM 36 7/4 Strong VAM 37 7/4 Strong VAM 38 7/5 Strong VAM 39 7/5 Strong VAM 40 7/5 Strong VAM 41 7/7 Weak VAM 41A 7/4 Strong VAM 42 7/7 R78 VAM 43 Doubled Legs Weak VAM 44 Trpl Blossoms R78 VAM 45 Dbl Talons R78 VAM 79 Fill in 8s R78 VAM 70 Doubled RIB R78 VAM 80 Weak LIB R78 VAM 81 Polished Ear R78 VAM 82 Doubled Stars R78 VAM 83 High 1 R78 VAM 84 Line Under 8 R78 VAM 100 Type1 Obv R78 VAM 115 Trpl Blos R78 VAM 117 Tripled Star R78 VAM 141 Tripled Star R78 VAM 145 Broken N&M DECEMBER 2005 133816 133817 133818 133819 133820 133821 133822 133823 133824 134030 134031 133827 134032 133971 134033 134034 134035 134036 134037 133828 134038 134039 133972 133829 133830 133973 133831 134040 134041 134042 134043 134044 133832 133834 133836 133835 133974 Starting now, we believe it is inevitable that VAMs will become much more mainstream among dollar collectors in general, rather than remaining a specialty niche for enthusiasts. PCGS’ involvement will also increase exposure of VAMs to the part of the numismatic world that only buys certified coins, and especially to the portion that only buys coins in PCGS holders. Some of the fuel behind the resulting growth in VAM demand will likely 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878-CC 1878-CC 1878-CC 1878-CC 1878-S 1878-S 1878-S 1878-S 1878-S 1878-S 1878-S 1878-S 1878-S 1878-S 1878-S 1878-S 1879-CC 1879-O 1879-O 1879-S 1879-S 1879-S 1879-S 1879-S 1879-S R78 VAM 162 Broken N&M R78 VAM 166 Tripled Eye R78 VAM 168 Doubled P R78 VAM 169 Quad Stars R78 VAM 170 Doubled Date R78 VAM 171 Tripled R R78 VAM 187 Doubled R R78 VAM 188 Washed Out L R78 VAM 199.1 Trpl Blos R79 VAM 203 Short Leaf R79 VAM 220 Tripled R R79 VAM 223 Washed Out L VAM 6 Doubled Leaves VAM 11 Lines in Wing VAM 18 Doubled Leaves VAM 24 Doubled Leaves VAM 26 Long Arrow Shaft VAM 27 Long Arrow Shaft VAM 56 Long Arrow Shaft VAM 57 Long Arrow Shaft VAM 58 Long Arrow Shaft VAM 59 Long Arrow Shaft VAM 60 Long Arrow Shaft VAM 62 Long Arrow Shaft VAM 72 Long Arrow Shaft VAM 6 Doubled Rib VAM 22 Doubled Rib VAM 50 Tripled Eyelid VAM 3 Capped Die VAM 4 O/Horizontal O VAM 28 O/Horizontal O VAM 4 Reverse of 1878 VAM 6 Reverse of 1878 VAM 9 Reverse of 1878 VAM 23 Reverse of 1878 VAM 25 Reverse of 1878 VAM 34 Reverse of 1878 VAMVIEW come from expansion of the popular PCGS Registry Set progam. In fact, this expansion has already occurred in the form of six new sets, all of which are built around the Top 100 and Hot 50 Morgan lists, and the Hot 50 Peace dollar list. The firm’s involvement in VAMs and the creation of new Registry sets are clearly just a beginning, as evidenced by an obvious clue in the company’s VAM announcement: 133975 134045 134046 133976 133977 133837 133978 134047 133833 133838 133839 133840 133841 133843 133842 133844 133845 133846 133847 133848 133849 133850 133851 133852 133853 133979 133980 134048 133869 133854 133855 133856 133857 133858 133859 133860 133861 1879-S 1879-S 1879-S 1879-S 1879-S 1879-S 1879-S 1880 1880 1880 1880 1880 1880 1880 1880 1880 1880 1880-CC 1880-CC 1880-CC 1880-CC 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-S 1880-S 1880-S 1880-S 1881-O 1881-O –5– VAM 39 Reverse of 1878 VAM 42 Reverse of 1878 VAM 43 Reverse of 1878 VAM 46 Reverse of 1878 VAM 50 Reverse of 1878 VAM 51 Reverse of 1878 VAM 52 Reverse of 1878 VAM 39A Partial E Rev VAM 11 Checkmark VAM 16 Checkmark VAM 29 Checkmark VAM 1A Knobbed 8 VAM 6 8/7 Spikes VAM 7 8/7 Crossbar VAM 8 8/7 Ears VAM 9 8/7 Stem VAM 23 80/79 VAM 4 80/79 Rev of 78 VAM 5 8/7 High 7 VAM 6 8/7 Low 7 VAM 7 8/7 Rev of 78 VAM 4 80/79 Crossbar VAM 5 8/7 Crossbar VAM 6 8/7 Ear VAM 6A 8/7 Ear VAM 16 Checkmark VAM 17 Checkmark VAM 21 Checkmark VAM 43 Doubled Ear VAM 48 Hangnail VAM 49 8/7 Ear Hangnail VAM 8 8/7 Medium S VAM 9 8/7 Large S VAM 10 8/7 Crossbar VAM 11 0/9 Overdate VAM 5 O/O VAM 27 Doubled Ear DECEMBER 2005 133862 133863 133864 133865 133866 133867 133868 133981 133982 133983 133984 133870 133871 133872 133873 133874 133875 133876 133877 133878 134049 133880 133881 133882 133883 133985 133986 133987 133885 133879 133884 133886 133887 133888 133988 134050 133989 PCGS joins the VAM party . . . “The initial PCGS VAM certification program will involve attribution of 277 Morgan and 52 Peace dollar major varieties.” The flashing red light in this sentence is, of course, the word “initial”. PCGS is clearly keeping an open mind about expanding VAM attributions to more coins in the future. Even by recognizing just 329 coins, however, we think the outlook for VAM popularity now exceeds anything previously seen – which is both an upside and a downside to PCGS becoming a participant. It’s a huge upside if you already own VAMs, expecially better ones on the Top 100 and Hot 50 lists, since market demand for such coins figures to grow by leaps and bounds. But it’s also a big downside if you 1882-O 1882-O 1882-O 1882-O 1882-O 1882-O 1882-O 1883 1883-O 1883-O 1884 1884 1884 1884 1884-O 1884-O 1884-O 1884-O 1885 1885 1885 1885 1885-CC 1885-S 1886 1886 1886 1886 1886 1886-O 1886-O VAM 3 O/S Flush VAM 3 O/S EDS VAM 4 O/S Recessed VAM 4 O/S EDS VAM 5 O/S Broken VAM 5 O/S EDS VAM 7 O/O VAM 10 Sextupled Stars VAM 4 O/O VAM 36A Partial E Rev VAM 2A Partial E Rev VAM 3 Large Dot VAM 4 Small Dot VAM 5 Doubled Ear VAM 6 O/O VAM 10 O/O VAM 25 Date in Denticles VAM 35 Doubled Eyelid VAM 1A Pitted Reverse VAM 1B Pitted Reverse VAM 1C Pitted Reverse VAM 8 Dash VAM 4 Doubled Dash VAM 6 S/S VAM 1A Line in 6 VAM 1C 3+2 Clashed Rev VAM 17 Doubled Arrows VAM 20 Doubled Date VAM 21 Line in M MPD VAM 1A Clashed E VAM 7 O/O VAMVIEW continued from page 5 are still trying to find them, because there figures to be a lot more competition for what have always been rare coins to begin with. In fact, the ultra-rarity of some VAMs, such as the 1878 VAM 14.20, 1889 VAM 23A, and 1921-D VAM 1X could actually hurt market enthusiasm since they make building complete sets all-but impossible. It’s one thing for collectors to know that 1893-S Morgans are rare in the context of the rest of the set, but in reality they are readily available in most grades, albeit expensive. With VAMs, however, the meaning of “rare” is without context. And as new collectors are about to discover, when only a few coins are known to exist, then only a few collectors can • hope to own one. 133889 133890 133891 133892 133893 133894 133895 133896 133897 133990 133991 133898 133899 133992 133900 133993 133994 133995 133996 133997 133998 134051 133999 133901 133902 134001 133904 134000 133903 133905 134002 1886-S 1887 1887 1887 1887 1887 1887-O 1887-O 1887-O 1887-O 1887-O 1887-S 1887-S 1888 1888 1888 1888 1888 1888 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O –6– VAM 2 S/S VAM 1A Donkey Tail VAM 1B Partial E Rev VAM 2 7/6 VAM 5 Doubled Date VAM 12 Alligator Eye VAM 2 Double 1 Triple 7 VAM 3 7/6 VAM 5 Doubled Stars VAM 22A DDO Pitted Rev VAM 30 TY Clash VAM 2 S/S VAM 4 Doubled Date VAM 4 Doubled Reverse VAM 6 Doubled Reverse VAM 7 Doubled Reverse VAM 11 Doubled Ear VAM 12 Doubled Reverse VAM 18 Doubled Eyelid VAM 1A Clashed E VAM 1B Scarface VAM 2 Oval O VAM 4 Hot Lips VAM 5 Oval O VAM 6 Oval O VAM 9 Doubled Arrows VAM 15 Doubled Reverse VAM 17 Oval O VAM 18 Oval O VAM 21 Oval O VAM 24 Oval O DECEMBER 2005 133906 133907 134003 133908 133909 133910 133911 133912 133913 133914 134052 133915 134004 134005 134006 134007 133916 134008 134009 133917 133918 133921 133919 133922 133923 133920 134010 133924 133925 133926 133927 1888-S 1889 1889 1889 1889 1889 1889 1889-O 1889-O 1889-O 1889-O 1889-O 1890-CC 1890-O 1890-O 1891 1891 1891-CC 1891-O 1891-O 1891-O 1891-S 1892-O 1892-S 1893 1895-S 1895-S 1896 1896 1896 1896-O 1896-S 1897 1897 1899-O VAM 1B Pitted Reverse VAM 16 Doubled Ear VAM 18 Doubled Ear VAM 19A Bar Wing VAM 20 Doubled Ear VAM 22 Bar Wing VAM 23A Clashed IN VAM 1A Clashed E VAM 2 Oval O VAM 6 Doubled Date VAM 17 Oval O VAM 20A Weak E Rev VAM 4 Tailbar VAM 10 Comet Variety VAM 20 Doubled Ear VAM 2 Doubled Ear VAM 2A Dbl Ear/Moustache VAM 3 Spitting Eagle VAM 1A Clashed E VAM 1B Pitted Reverse VAM 3A Weak E Rev VAM 3 Doubled Stars VAM 7 Doubled Ear VAM 2 Doubled Date VAM 4 Doubled Stars VAM 3 S/S VAM 4 S/Horizontal S VAM 4 Doubled Stars VAM 19 8 in Denticles VAM 20 Bar 6 VAM 19 Doubled Date VAM 5 S/S VAM 6A Pitted Reverse VAM 8 Doubled Stars VAM 4 Micro O 134011 134012 134013 133928 134014 133929 134015 133930 133931 133933 133932 134016 133934 134017 134053 133935 133936 133937 133938 134018 134019 133939 133940 133941 133942 134020 133943 133944 133945 134021 134054 134022 133946 134023 133947 Peace VAMs now designated by PCGS date 1921 1922 1922 1922 1922 1922 1922 1922 1922 1922 1922 1922 1922 1922 1922 1922-D 1922-D 1922-D 1922-S 1923 1923 1923 1923 description on holder VAM 3 Line Thru L VAM 1A Line in Tiara VAM 1F Field Break VAM 2A Earring VAM 2C Extra Hair VAM 2E Wing Break VAM 2F Hair Pin VAM 4 Doubled Motto VAM 5 Tripled Leaves VAM 5A Scar Cheek VAM 5B TDR Wing Break VAM 6 Doubled Leaves VAM 7 Doubled Wing VAM 8 Doubled Tiara VAM 12A Moustache VAM 3 Doubled Leaves VAM 4 Doubled Motto VAM 7 Tripled Reverse VAM 3 Tripled Reverse VAM 1A Whisker Jaw VAM 1B Extra Hair VAM 1C Tail on O VAM 1D Whisker Cheek VAMVIEW PCGS coin # 133734 133735 133736 133737 133738 133739 133740 133741 133742 133743 133825 133744 133745 133746 133747 133748 133749 133750 133751 133752 133753 133754 133755 –7– 1899-O 1899-O 1899-O 1899-O 1899-S 1900 1900 1900 1900 1900 1900-O 1900-O 1900-O 1900-O 1900-O 1900-O 1900-O 1900-O 1900-O 1900-O 1901 1901 1902 1903-S 1921 1921 1921 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-S 1921-S VAM 5 Micro O Wing Lines VAM 6 Micro O VAM 31 Micro O VAM 32 Micro O VAM 7 Doubled Date VAM 11 Doubled Wing VAM 16 Two Olive Rev VAM 16A Two Olive Rev VAM 18 Two Olive Rev VAM 24 Doubled Wing VAM 7 O/CC VAM 7A O/CC VAM 8 O/CC VAM 8A O/CC VAM 9 O/CC VAM 10 O/CC VAM 11 O/CC VAM 12 O/CC VAM 15 Doubled Stars VAM 29A Die Break VAM 3 Shifted Eagle DDR VAM 5 Doubled Ear VAM 4 Doubled Ear VAM 2 Small S VAM 1A Pitted Rev Wide Reeding Pitted Reverse VAM 1A TRU_T Variety VAM 1B Capped R VAM 1N Unicorn VAM 1X Doubled Cud VAM 3A Wing Dot VAM 9A _RUST VAM 1A BU Scratch VAM 1B Thorn Head 133951 133948 133949 133950 133952 133953 134024 134025 134026 133954 133958 133959 133960 133961 133957 133962 133963 133964 133955 133956 133965 134027 133966 133967 133968 133969 134028 133970 134029 134055 134056 134057 134058 134059 134060 1923 1923 1923 1923 1923 1923 1923-D 1923-S 1924 1924 1924 1924-S 1925 1925 1925 1925-S 1925-S 1926 1926-S 1926-S 1927 1927-D 1927-S 1928-S 1934-D 1934-D 1934-S 1935-S VAM 1E Broken Wing VAM 1F Chin Bar VAM 1-O Bar Wing VAM 1V Extra Hair VAM 2 Doubled Tiara VAM 3 Doubled Reverse VAM 2 Doubled Eagle Head VAM 1C Pitted Reverse VAM 1A Bar D VAM 2 Doubled Reverse VAM 5A Broken Wing VAM 3 Doubled Reverse VAM 1A Tiara Die Gouge VAM 3 Doubled Shoulder VAM 5 Missing Ray VAM 2 Doubled Reverse VAM 3 Doubled Wing VAM 2 Doubled Reverse VAM 4 Dot Variety VAM 5 Doubled Reverse VAM 2 Doubled Motto VAM 2 Doubled Motto VAM 3 Doubled Leaves VAM 3 Doubled Motto VAM 3 DD Obv Med D VAM 4 DD Obv Sm D VAM 3 Doubled Tiara VAM 4 Doubled Reverse 133756 133757 133758 133826 133759 133760 133761 133762 133763 133765 133766 133767 133768 133769 133770 133771 133772 133773 133774 133775 133776 133777 133778 133779 133780 133781 133782 133783 DECEMBER 2005 WHO CARES ABOUT PEACE DOLLAR VAMS? YOU SHOULD! Helpful hints about where to look and what to look for, in expanding your variety collecting. By Eric Justice tributed at a coin show for “common” price. Every VAMer loves going know that for most of you Morgan through 1878 Morgans checking out dollars are your first love, but you tail feathers, and looking at New really ought to give Peace dollar VAM Orleans dollars for Micro-Os, but may collecting a try. I suggest that you continIn fact, this may even ue searching through that be the first time some of big box of silver dollars you have heard there are after you are done havPeace dollars listed in the ing fun with 1921 “Big VAM Book”. The Morgans and take a truth is, there are some quick look at the Peace great Peace dollar VAMs dollars to see what you out there, and proportioncan find. ately less people are lookThe goal of this article ing for them than Morgan Figure 1: 1934-D VAM 3 dou- is to give you an introbled die obverse. Doubling dollar VAMs! duction to Peace dollar can be found on many dates But don’t expect that to in the Peace dollar series. VAM collecting. It is also last long, because news is to give you the primary traveling fast that several pick up points (PUP) or Peace dollar VAMs comkey areas to look at on manded $1,000+ premievery Peace. I have listed ums in the recent sale of them by major category the William Bland collecwith a close up picture tion of Top 50 Peace dolfor a reference picture of lars featured by Heritage each category. Figure 2: The rare 1934-D Galleries. VAM 4 Micro-D. Interest is also peaking Category: doubled now that PCGS has startdie obverses ed attributing Peace dollar PUP – Doubling on the Top 50 VAMs on their designer initials, Liberty’s holders and has added a profile, rays on Liberty’s new Top 50 Peace dollars tiara. category to their already popular Registry Set colThe Most spectacular lecting program. doubled die for the Peace Most of you would love Figure 3: 1923 VAM 3 Doub- Dollar Series is the 1934to find a great VAM unat- led Die Reverse. D doubled die obverse. It I VAMVIEW –8– DECEMBER 2005 has doubling similar to the 1888-O VAM 4 “Hot Lips” Morgan on the profile of Ms. Liberty. Also, late in the die life the Large D filled mintmark (VAM 3) was swapped out for a reverse die with a Micro-D mintmark. Find this Micro-D die pairing with the doubled obverse in Mint State and capture a quick $1,000+ premium! Does this story remind you of any other rare die combo? (Hint: 1878 VAM 44 Morgan, “The King”) Category: Doubled and tripled die reverses PUP: Doubling on olive branches and leaves, right side of eagle’s wing, and back of tail feathers. Look at the complete split of the olive branch and leaves on the 1923 VAM 3 shown in Figure 3. Also look for doubling on the leaves. There are many variations of doubling on leaves in the Peace dollar series. Category: Clash marks, polished dies, ee-engraved areas PUP – Die polishing in fields that remove areas of design, unusual waves of metal flow in the design elements particularly top of Ms. Liberty’s head VAMVIEW under R of LIBERTY, the ray under the eagle’s tail, or spike on top of eagle’s breast in field in front of eagle’s breast. Figure 4: 1925 VAM 5 “Missing Ray”. The 1st ray below the eagle’s tail feathers has been polished. Found on 1924 and 1925 Peace dollars. Nice die polish can also be found on many S-mint dollars. Figure 5: 1923 VAM 1D “Whisker Cheek”. A die break right on the face of Ms. Liberty appears to look like a huge scar. Does this one remind you of an interesting Morgan Dollar? (The 1888-O VAM 1B Scar Face). Various breaks are primarily found on 1922 and 1923 Peace dollars. Figure 6: 1924 VAM 5A ”Broken Wing”. A curving die break on the central design has earned this die break it’s nickname. Similar breaks are found on 192223-24-25 Peace dollars. –9– Category: Obverse die breaks PUP – Filled raised metal flow from a cracking, worn die pair. Check central hair design, cheek jaw line and face. Category: Reverse die breaks PUP – Filled raised metal flow from a cracking worn die pair. Check central design on the eagle’s back and the right field above and below the word DOLLAR. Category: Die gouges and reengraved areas PUP – Rays in Ms. Liberty’s tiara and the motto, reverse rays, and raised areas or lines in central design elements, probably caused from a slip of an engraver’s tool. Category: Miscellaneous dots and pitted dies PUP: Small circular irregular dots in fields (difficult to see). Die pitting is caused from the rusting of a die pair. Die dots are a mystery but were probably caused from testing of the die pair, or DECEMBER 2005 Peace dollar VAMing . . . THE continued from page 9 an engraver’s tool. STORY You are now armed with the basic knowledge needed for Peace dollar VAMing. Use it to help you decide to acquire the next interesting Peace dollar you see at a coin show or shop. Figure 7: 1922 VAM 2F “Hair Figure 8: 1923-S “Pitted ReIf you enjoyed this article Pin”. Similar gouges can be verse”. Similar areas can be found on various dates in found on 1925 and 1926-S and want to learn more the Peace dollar series. Peace dollars. about Peace dollar VAM but can’t figure it out, send me an ecollecting, a must have for your mail at [email protected] and I’ll do my library is “The Official Guide to the best to help. Also, all major grading Top 50 Peace Dollar Varieties” by Jeff services are now attributing Top 50 Oxman and Dr. David Close. If you • Peace dollar VAMs! find an interesting Peace dollar VAM 1878 VAM 44 SELLS FOR Prices for $10,200 the “King of VAMs” in all grades may never be the same after the November 20 eBay auction of a PCGS MS61 for $10,200. The old record is believed to be $7,500 for an MS63DMPL (the finest known example) reported in Dr. Michael Fey’s Fall 2002 “Top 100 Value Guide.” In-hand inspection of the MS61 on eBay revealed it is actually a VAM 44A, due to massive die clashing on both obverse and reverse. The coin’s surfaces are original bright white and semi-prooflike, with lightly frosted devices. Slight striking weakness is seen over Liberty’s ear. Field abrasions in front of the face and shallow frost scuffs probably account for the technical grade, but its excellent eye appeal makes one wish all 61s looked so good. • VAMVIEW – 10 – DECEMBER 2005 THRILL OF THE HUNT AND PHOTOS BY BECKY CAMPEAU My first memory of Morgan dollars is from the mid-1950s. I remember sitting on grandpa’s lap after Thanksgiving dinner and looking through the blue Whitman folders with him. I fell in love with those beautiful old coins, and I still am. I’m a third generation Morgan collector and it took all of us to fill those folders. When I put in the last coin, it was for all of us. Then the hunt was on for upgrades. This was enjoyable until prices started going crazy. I was still looking, but I don’t have deep pockets so it was getting really tough. It got so I wasn’t enjoying my Morgans as much because it started feeling like work. About that time I joined an internet coin forum to learn more about a grading company I believed was ripping off folks, and it ended up opening a whole new world for me. At the time I was one of those people who believed that if you needed a microscope to see an error, then I didn’t want to be bothered. Some members of the forum are passionate about VAMs, and I found myself being drawn to their “Guess the VAM” threads and pictures. What a challenge! What fun!! VAMVIEW I soon learned that one of the best parts of collecting VAMs was I didn’t have to spend $1,000 for a coin with “A” color or high MS grades; I could spend $20 or $30 and get a wonderful coin with a neat error and feel great about it. The first thing I had to do was locate something to help me find the VAMs, because I just couldn‘t see them. So I went down to a department store and bought a QX3 microscope. It is a kid’s toy, but it taught me how to see doubling and other errors, and it takes wonderful pictures. It also helped me find some great coins hiding in our collection that none of us ever knew were there, like the three coins pictured here. VAMing put the fun back into my Morgan collection! It’s a whole new way to look at your coins, and the hunt is where the fun really is. I can cherry a VAM in cleaned VF and feel great about it. It’s OK, it doesn’t have to be a Top Pop. Although that would be wonderful, finding an R-6 in any condition is a kick!! A trip to your local coin shop can get you a 1899-O Vam 6 and a 1900-O/CC for under $40. Does it get any more fun than that? So take a look at your Morgans with a fresh eye, make it fun again, and by all • means, enjoy the hunt!. – 11 – DECEMBER 2005 1887 VAM 1A DONKEY TAIL Scarce, desireable and just plain fun, it’s a variety that should be on your top 10 cherrypicking list. STORY AND PHOTOS BY JACK LEE With PCGS now recog- nizing 275 Morgan VAMs, deciding where to start can be a bewildering challenge for some dollar collectors. The good news is you don’t need to know everything about VAMs. Just learning about a few key examples can be fun – and perhaps even make you some serious money. While I’m sure most of you will recognize an 1882-O/S, 1888-O VAM 1B Scarface, or 1901 VAM 3 Doubled Die Reverse (Shifted Eagle) without problems, what else is out there that you might actually be able to find? I’ve been collecting Morgan dollars on and off since the late 1970s, but only in the last few years did VAMs catch my attention. One of my personal favorites is the 1887-P VAM 1A Donkey Tail. How available are Donkey Tails? The current known population is around 75 coins. You may think this is a lot, but compare that to the several hundred 1890-CC Tailbars that have been graded. Five hundred dollars for an AU50 Donkey Tail is a bargain compared to the $1,000 an AU50 Tailbar can cost . . . and it’s also several times rarer. Fortunately, Donkey Tail prices have remained stable – at least temporarily – because new specimens VAMVIEW that have been found each year have kept the demand side in check. But with the arrival of new PCGS Registry sets for Morgan and Peace dollar VAMs, things have changed significantly. The Donkey Tail has been given a eye-popping rating of 8 out of 10; a reflection of it’s rarity and popularity. Only 6 coins in the PCGS Top 100 set were given a 9 or 10 rating, so demand (and prices) figure to only increase in the future. Surely the Donkey Tail is a coin that every serious Morgan dollar collector interested in varieties will consider owning. How do you go about finding one? If you are looking to cherrypick, focus on circulated 1887 Morgans. Finding one is a numbers game and a determined search over a period of months has a decent chance of succeeding. Dealer’s junk boxes and eBay are excellent place to find them. Since the die break on the D is visible to the naked eye, they are easy to attribute. Many dealers make the mistake of looking only for the 1887/6 overdate, but you should make sure to flip over the coin and look at the reverse. You don’t even need a loupe. A die crack that is quite large and visible to the naked eye circles much of the reverse lettering. While the usual 1887 Morgan is a sharply struck coin, the Donkey Tail – 12 – DECEMBER 2005 is always found weakly A couple of weeks went struck. I believe this explains by before I called ANACS why so many coins seem to during lunch to get my have been produced with the grades. I should have left identical looking and unusuwork immediately at that ally stable die break. point, as all rational thought Sitting at a dealer’s table quickly disappeared. I had and going through boxes of just joined an elite group of Morgan dollars may not be VAM collectors, and was for everyone, but keep your now the proud owner of an eyes open just the same. Try MS60 Donkey Tail; a condito check every 1887 tion census (top 5 known) Morgan you see. Based on example. my experience, the Donkey As you can see in the Tail can be found. table below, only eight (There are a few even Donkey Tail sales have been rarer early die state coins A large die crack reported in VAMview during known where the Donkey Tail circles much of the 2005, the highest grade of reverse lettering which was only AU50. break is just a crack. Alon Donkey Tails. though interesting, unless Frankly, $450 and even you’re a die break freak like me I $600 seem like bargains if the coins suggest you avoid these. You want were accurately graded, and the the real deal.) ANACS VF30 was an absolute steal Because the hair over Liberty’s ear at just $178. and the eagle’s breast feathers show What my MS60 is worth is anybody’s guess, since I don’t believe a little or no definition, high grade Mint State Donkey Tail has ever been Donkey Tails are very hard coins to offered for sale. grade. Problem-free examples are If you’re a Morgan or Peace dolexceedingly rare in AU55 or above, lar collector getting into VAMs, conwith maybe only 10 to 12 in exissider the Donkey Tail. It’s easy to see, tence. Of these only five Mint State it’s a quick reseller, it gives an enorspecimens are known; the finest of mous percentage return when cherwhich was graded MS62 by NGC. rypicked, and best of all it actually While I have been fortunate to • does look like a Donkey’s Tail! find six raw examples, two had problems. All were cherrypicked on Recent 1887-P Donkey Tail sales: auction sites as unattributed XF or lower coins. My best one was -- I grade when where price thought -- an untoned AU I won AU50 ANACS Aug-05 eBay $600 on eBay for just $26. AU50 raw Sep-05 private sale $450 My good friend Rob Joyce XF45 ANACS May-05 private sale $375 came over one evening and kept XF45 ANACS May-05 eBay $324 Sep-05 Teletrade $440 XF40 ANACS praising the coin’s outstanding $178 eBay May-05 VF30 ANACS luster. I remember saying, “Yeah, Jun-05 eBay $225 maybe it’ll go AU58 when I send VF30 raw VG08 raw Jun-05 eBay $71 it in for grading.” VAMVIEW – 13 – DECEMBER 2005 BE CAREFUL VAM SELLERS! If the “Top 100 VAM Keys” is your only value guide, then you may be practically giving away some coins. Just about anyone who has collected VAMs for very long has a happy story about buying a coin from someone who apparently consulted only the “Top 100 VAM Keys” when setting their asking price. Here are three of our favoritess: • An MS63 PCGS 1890-CC VAM 4 Tailbar was listed for sale on eBay with a “Buy It Now” price of $450. Actual value at the time was at least $2,500. • An MS61 NGC 1880-O VAM 6B (now 49) Ear+Hangnail was listed with a BIN of $400. Actual market value is probably at least $1,500. • An MS63 NGC 1879-O VAM 4 O/horizontal O was listed with a BIN of $450. Actual market value is probably at least $1,000. For the lucky VAM collector who finds these bargains first, they can be like winning a mini lottery. Hands can shake in excitement as they press the Buy It Now button, or tongues twist as they struggle to stay calm while saying, “OK, I’ll take this one.” The “Top 100 VAM Keys” is now almost a decade old, but it is clear that some sellers still don’t consult anything else before pricing their VAMs. Lucky us! Wouldn’t it be nice if dealVAMVIEW ers still used decadeold Grey Sheets too? Just like $1/gallon gas, the reality today is that some of the book’s prices are hopelessly out of date relics that make us smile at their memory. But to be fair, it’s also amazing how many prices in the book are still accurate after all this time. The key is knowing which ones aren’t. We recently sat down with our original copy of the “Top 100 VAM Keys” and did an analysis of prices then versus what we think they are now. (Even in new editions the prices are the same as in 1996.) We grouped prices in the book into five categories ranging from “Very high” to “Very low”. Frankly, we were surprised by the final tally: Very high – 0 coins. Somewhat high – 4 coins. About right – 44 coins. Somewhat low – 43 coins. Very low – 20 coins. A real challenge in grouping the coins was the range of grades and prices in the book. In several cases the prices in lower grades are still accurate, while high grades are way off, and vice versa. Eventually, we came up with this list of 20 coins we think are way off: – 14 – DECEMBER 2005 • 1878 8TF VAM 32 and 1878 increased. 7TF VAM 115 are more valuable in • 1921-D VAM 1A is somewhat all grades than the book suggests. available in circulated grades, but is • Ditto plus a whole bunch for rarely offered in Mint State. Even find1878 7/8TF VAM 44. ing one at our estimated price could • 1879-O VAM 4 is seriously be difficult. undervalued in Mint State grades. These are just a few examples of • 1880-O VAM 49 prices are a why values in the “Top 100 VAM joke in Mint State. Only five examples Keys” should not be taken as gospel. The oft-quoted saying, “Knowledge is known to exist, so “name your price” power” is never more true than when is probably more accurate. buying or selling VAMs. • 1883 VAM 10 is much tougher than the book suggests. In a young and constantly evolving • So are 1886-O VAM 1A and all market where the value of individual 1899 Micro-Os in Mint State grades. coins can change significantly in just • 1887 VAM 1A was not highly a few months, relying on nine year sought after when the “Top 100 VAM old information is a recipe for disaster Keys” was published, it is now popuif you are a seller. lar in all grades and we expect Unless, of course, you want to give demand to continue to grow. some lucky collector a happy story to • 1889-O VAM 1A and 1891 tell for the rest of their life. • VAM 2B never seem to be offered for sale in A sample of dates and grades any grade, so considthat are significantly undervalued er naming your price. in the “Top 100 VAM Keys” • Prices for 1888-O current VAMs 1B and 4, “Keys” price est. value coin 1890-CC VAM 4, 1878 8TF VAM 32 7/3 TF AU50 – $150 $500 1901 VAM 3, and 1878 7/8TF VAM 44 Triple Blos. AU50 – $1,000+ $3,000 1903-S VAM 2 have 1878 7TF VAM 115 Triple Blos. XF40 – $75 $150 skyrocketed, perhaps 1879-O VAM 4 O/horizontal O MS63 – $450 $1,000+ in part because they 1880-O VAM 49 Ear+Hangnail MS62 – $600 $1,750 1880-O/S VAM 4 EDS Recessed AU50 – $200+ $3,500+ are included in PCGS 1883 VAM 10 Sextupled Stars AU50 – $75 $500 Registry sets. We don’t 1886-O VAM 1A E-reverse MS60 – $450+ $1,000+ expect prices to ever 1887 VAM 1A Donkey Tail AU50 – $350+ $750 come down. 1888-O VAM 1B Scarface MS62 – $350+ $3,000+ • 1895-S VAM 4 1888-O VAM 4 Hot Lips AU50 – $350 $900 has more or less 1889-O VAM 1A E-reverse AU50 – $250 $600 tripled in every grade 1890-CC VAM 4 Tailbar MS63– $350 $3,000+ because so has the 1891 VAM 2A Moustache AU50 – $500 $1,000 date itself. 1895-S VAM 4 S/horizontal S AU50 – $500 $1,500+ • 1900-O/CC $1,000+ MS60 – $125 1899-O Micro-O (all VAMs) VAM 9 has become AU50 – $350+ $700 1900-O/CC VAM 9 1901 VAM 3 Shifted Eagle AU50 – $525 $2,250 much more desireable $1,800 XF40 – $350 1903-S VAM 2 Micro-S as demand for O/CCs MS62 – $125 $400+ 1921-D VAM 1A TRU-T in general has VAMVIEW – 15 – DECEMBER 2005 THE 1899 MICRO-OS: Don’t be confused, here’s everything you need to identify VAMs 4, 5, 6, 31 and 32 Article by Rob Joyce. Photos by Rob Joyce and Leroy Van Allen. I n 1899, some of the New Orleans Morgan dollar dies were prepared with a smaller O mint mark punch, now referred to by collectors a “Micro-O.” This mint mark is almost round and does not have the taller oval shape seen on most other Morgan dollars. For an unknown reason, this smaller mint mark punch made for the Barber quarter was used on a few Morgan dies. Today, five different 1899 reverse dies are known to have Micro-O reverses. Of particular note is that one of the 1899 Micro-O reverses, VAM 6, was used as the master to create counterfeit dollars with Micro-O reverses dated 1896, 1900 and 1902.* The 1899 Micro-O coins are hard to find, as the majority of coins produced used the standard size mint mark. When encountered, they are often heavily worn. The condition rarity point seems to be between XF and AU. AU coins are much harder to find, are worth a significant premium and are more desirable. Mint state examples are extremely difficult to locate. Specimens in VG condition are available and one dealer has managed to accumulate a couple of rolls over the last decade. The five different 1899 Micro-O VAMs can be hard to differentiate. The first Micro-O die was reported in 1951 and three different dies were known by the late 1997 when Fey and Oxman published “The Top 100 Figure 1: 1899 Micro-O (left) and normal O (right) mint marks. VAMVIEW – 16 – Figure 3: 1899 Micro-O VAM 31 far date placement. Figure 2: 1899 Micro-O VAM 6 near date placement. DECEMBER 2005 be used to identify the Micro-O Morgan Dollar Varieties: The VAM reverses that do not rely on the mint Keys”, igniting the search for Micromark position alone. If you O coins. It wasn’t until The condition rar- work through the possible 1999 that Michael Fey noticed slight differences on ity point seems to VAMs in the order presentsome Micro-O coins and be between XF and ed, it eliminates the easiest attributions and focuses reported two additional AU. AUs are much down on the features that reverse dies. harder to find, are will differentiate the harder Because there are not complete attribution photos worth a significant varieties. for all five dies in the major premium, and are VAM 6: Begin with the VAM reference books, and more desirable. obverse of the coin and because the differences Mint state exam- check the date position. between some are subtle, ples are extremely The only 1899 Micro-O 1899 Micro-O are often misattributed. The mint mark difficult to locate. with a near date is VAM 6. position of these dies can Figure 2 illustrates the date be used to attribute individual VAMs, position for VAM 6 where the left but the differences are terribly subtle edge of the bottom of the 1 is making this technique too difficult to aligned over a denticle gap. All other be practical. Micro-O coins have a date alignment Below are attribution hints that can where the right edge of the 1 is aligned over the center of a denticle Figure 5: 1899 Micro-O VAM 5 wing die polishing lines. Figure 4: 1899 Micro-O VAM 6 neck die polishing line. VAMVIEW – 17 – DECEMBER 2005 Identifying 1899 Micro-Os . . . Figure 6: 1899 Micro-O VAM 4 tail feather die gouge. Figure 7: 1899 Micro-O VAM 4 reverse die cracks. [Figure 3]. If you have a near date, your coin is a VAM 6. You can verify that attribution by checking for a unique die polishing line between the eagle’s neck and the wing as shown in Figure 4. VAM 6 also has slight doubling that can be seen on high grade examples at the base of the ear and at the right inside of the ear. VAM 5: For coins that do not have a near date position, check the reverse and examine the lower portion of the lower wing on the right side of the eagle. VAM 5 has strong die polish lines that run diagonally up and right [Figure 5]. These lines are unmistakable on all but the most worn examples and are a lock-in fea- ture for attribution. VAM 5 was identified in the Top 100 book as the most desirable of the Micro-O coins and commands a price premium over several of the other Micro-Os. If additional features to confirm the attribution are needed, VAM 5 also has a small polishing line emerging from the lower rear of the nose, and the date slants with the 1 closer to the denticles than the 9s. Some VAM 5s are clashed and show a line from the neck and triangular clash marks inside the right side of the wreath. Be aware, however, that VAM 4 coins can be clashed too, so clash marks alone are not unique enough to make an attribution – but they can winnow down the option.) Figure 8: 1899 Micro-O VAM 31 eagle’s leg die scratches. VAMVIEW continued from page 17 Figure 9: 1899 Micro-O VAM 32 has strong doubling of date. – 18 – DECEMBER 2005 VAM 4: A die gouge through the lower middle tail feathers is the key to identifying a VAM 4. Figure 6 is a close-up of this feature and shows the fine line specific to this VAM. A unique die crack is present on the upper reverse running through OF [Figure 7]. Additionally, this die pair has a faint polishing line between the left most cotton leaf and the wheat leaf in the hair. VAM 31: A pair of unique die scratches can be seen inside the left leg of the Eagle as you view the reverse of VAM 31 coins. This protected area preserves the markers on all but the most worn specimens and locks in the attribution quickly when present. [Figure 8]. VAM 32: If you’ve made it this far, your coin is likely a VAM 32. This is often the hardest reverse to diagnose, so it was left as the last possibility in this attribution aid. The pickup points are subtle. The date is doubled below the crossbar on the one. [Figure 9] Another marker to look for is a fine, tiny die scratch running upward and out from the third interior feather on the Eagle’s right wing as viewed. This polishing line is very subtle and hard to see on worn specimens but Figure 10: 1899 Micro-O VAM 32 die polishing lines inside wing. VAMVIEW will lock up the attribution for better grade coins. [Figure 10]. In researching this article, the Micro-Os of four large VAM collections were studied. Most coins labeled VAM 4 were actually VAM 31. In pursuing coins to study, a hoard of 50 circulated Micro-Os was made available for examination. More than 80% of them were VAM 6 or VAM 31. Three VAM 5s were present and a VAM 32 was in the cache. Three low grade VAM 4s were also part of the collection. While this is not a scientific study by any stretch of the imagination, it appears the population reports of 1899 VAM 4 Micro-O s are over inflated from misattribution. VAM 32 may actually be the rarest of the Micro-Os, with VAM 4 and VAM 5 being about the same order of rarity. Armed with this knowledge, go hunt out the highest grade examples you can find of the less common • 1899 Micro-Os! I want to thank Dennis Halladay for contributing coins to study and photograph, which helped make this article possible. Leroy Van Allen also supplied photos of the VAM-32 features and provided invaluable assistance covering the entire Micro O landscape. (*: Leroy Van Allen has authored a 40-page report, “Micro O Mint Mark on Morgan Dollars (Are they all for REAL?)” that provides an extensive study of all known Micro-O reverses, including those from 1880, 1896, 1899, 1900 and 1902. Copies are $10 to cover printing and postage from: Leroy Van Allen, P.O. Box 196, Sidney, OH 45365.) – 19 – DECEMBER 2005 RECENT VAM SALES PRICES prices collected through October 31, 2005 date 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF VAM 1 1 1 2 2A 2A 4 4 4 5 5 6 6 6 6 6 6 7 8 8 9 9 9 9 9 9 10 10 12 12 12 13 14.1 14.1 14.1 14.1 grade 63 62 62 63 64 64 63 62 PL 62 63 40 63 63 63 63 62 62 63 62 61 58 53 50 45 35 04 63 63 63 62 62 63 63 63 62 61 service ICG ANACS ANACS ICG PCGS NGC ANACS SEGS ANACS NGC ANACS ANACS PCGS NGC ANACS ANACS ANACS ANACS ANACS NGC ANACS ANACS ANACS ANACS SEGS ANACS NGC ANACS ANACS NGC ANACS ANACS ANACS SEGS ANACS NGC date sold Sep-05 Oct-05 Oct-05 Sep-05 Aug-05 Sep-05 Oct-05 Sep-05 Oct-05 Oct-05 Jun-05 Aug-05 Sep-05 Sep-05 Oct-05 Jun-05 May-05 Oct-05 Oct-05 Oct-05 Aug-05 Sep-05 Sep-05 Oct-05 Aug-05 Sep-05 Oct-05 Oct-05 Oct-05 Sep-05 Feb-05 Aug-05 Jun-05 Jul-05 Sep-05 Oct-05 venue E TT TT E E PP TT PP TT E E E E E TT E E TT TT E E E E E PP E E TT TT E E E E E E E price $123 $83 $77 $128 $738 $600 $99 $120 $99 $480 $125 $135 $130 $121 $94 $150 $120 $94 $105 $87 $1,800 $676 $395 $203 $225 $203 $114 $132 $88 $114 $106 $443 $138 $108 $120 $87 Note: transactions shown are those that VAMVIEW is aware of having occurred in eBay (E), Heritage (H), Teletrade (TT), Bowers & Merena (B&M), Kingswood (K), and Superior (S) auctions. Private party (PP) sales were reported to us by either the buyer or seller and should be regarded as hearsay. VAMs identified as problem coins are not included in this list. Grades and VAM attributions made for raw coins were the opinion of the seller and may not be accurate. Coins not identified by sellers as VAMs (buyer cherrypicks) are not included in this list. VAMVIEW – 20 – DECEMBER 2005 P RICE C OMMENTS Our VAM sales price database now numbers nearly 2,000 transactions, and as we continue to gather more some trends have already become highly predictable: Certified VAMs tend to sell for more than raw VAMs. As you look over sales prices in this issue, notice the instances where certified and raw examples of the same VAM sold in the same grade. There are just three cases where a raw coin sold for the highest price – but dozens of cases where raw coins sold for only a fraction of certified coins. Reasons for this disparity may include uncertainty about the accuracy of the raw coin’s VAM attribution, uncertainty about its claimed grade, or questions about its originality and problem-free status. The bottom line is, raw coins offer potential bargains for knowledgeable (and brave) VAM buyers, but when it comes time to sell it will probably pay to have them certified first. The holder matters a lot. Whether you have a favorite third party grading (TPG) firm or you hate them all, the fact is the VAM-buying marketplace not only likes certified coins, but it clearly likes some TPGs more than others – and it likes some much less. From our experience in gathering these prices, it is obvious that more VAMs are in ANACS holders than in any others. It is equally clear, VAMVIEW however, that given a choice, buyers tend to pay more for VAMs in NGC holders than in ANACS holders, and they tend to pay even more for VAMs in PCGS holders. This likely comes as no surprise to veterans of Heritage and other national coin auctions, and whether it is driven by Registry Set competition or not, it is clear that bidders in on-line auctions also tend to stretch for PCGS coins much more often than others. Don’t try to make sense of the final price in every (or any) auction, because it will only drive you crazy. VAM buyers are nothing if not unpredictable. While there is clearly a group of VAMers who often vie for the same key coins, it is equally obvious that competition for semikey and common VAMs is wildly unpredictable. This creates instances where a coin that brings strong money in one auction, sells for a song in the next one. For instance, an ANACS XF45 1879-O/horizontal O VAM 4 sold for $125 in July, as did a second one in August. Yet in September, an ANACS AU50 went for just $87. Or how about the PCGS Fine-15 1890-CC VAM 4 Tailbar that sold for $226 in August, versus the ANACS XF45 example that brought just $230 in October? We think VAM buying and selling is really just getting started, which is why trying to make sense out of any individual auction result right now • will drive you crazy. – 21 – DECEMBER 2005 Recent VAM sales prices . . . date 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 8TF 7TF 7TF 7/8TF 7/8TF 7/8TF 7/8TF 7/8TF 7/8TF 7/8TF 7/8TF 7/8TF 7/8TF 7/8TF 7/8TF (continued from page 20) VAM grade service date sold venue 14.1 14.2 14.2 14.3 14.3 14.3 14.4 14.4 14.4 14.4 14.6 14.8 14.10 15 15 15 17 17 17 17 18 19 19 19 19 19 20 21 22 22 23 23 23 23 23 23 30 31 33 33 33 33 33 33 33 33 33 34 36 37 50 63 62 62 62 55 63 63 63 62 63 62 DM 40 64 DM 64 63 DM 65 64 64 63 63 65 64 64 62 PL 62 PL 62 63 64 63 64 DM 63 DM 63 PL 63 62 62 62 63 64 64 64 63 63 63 62 62 61 58 62 63 ANACS NGC ANACS PCGS ANACS ANACS PCGS ICG ANACS ICG PCGS ANACS ANACS ANACS NGC ANACS PCGS PCGS PCGS ANACS ANACS PCGS NGC NGC NGC ANACS PCGS ANACS NGC ANACS PCGS ANACS ANACS NGC NGC ANACS ANACS ANACS NGC NGC ANACS ANACS ANACS ANACS ANACS ANACS NGC NGC ANACS ANACS Jun-05 Sep-05 Jun-05 Jul-05 Oct-05 Oct-05 Aug-05 Oct-05 Oct-05 Sep-05 Jul-05 Sep-05 Sep-05 Oct-05 Sep-05 Aug-05 Sep-05 Aug-05 Aug-05 Oct-05 Oct-05 Sep-05 Jul-05 Jul-05 Oct-05 Oct-05 Aug-05 Oct-05 Jul-05 Oct-05 Aug-05 Oct-05 Sep-05 Jul-05 Sep-05 Sep-05 Aug-05 Jul-05 Jul-05 Aug-05 Oct-05 May-05 Sep-05 Jul-05 Oct-05 Sep-05 Oct-05 Jul-05 Oct-05 Sep-05 PP E E PP E TT E E E E E E PP E E E H H H TT TT H H H E TT E TT E E H TT E E E E E H H E H E H E H H E E H H VAMVIEW – 22 – DECEMBER 2005 price $45 $132 $135 $450 $144 $46 $405 $300 $275 $249 $5,000 $1,900 $50 $3,199 $1,525 $2,151 $1,380 $403 $322 $99 $99 $863 $322 $299 $111 $88 $325 $94 $450 $153 $3,738 $550 $200 $190 $120 $113 $100 $78 $230 $229 $219 $125 $81 $61 $138 $104 $70 $61 $253 $219 date VAM grade service date sold venue 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 1878 7/8TF 38 7/8TF 38 7/8TF 38 7/8TF 38 7/8TF 38 7/8TF 39 7/8TF 39 7/8TF 41 7/8TF 41 7/8TF 41 7/8TF 41A 7/8TF 41A 7/8TF 42 7/8TF 42A 7TF 45 7TF 45 7TF 70 7TF 81 7TF 81 7TF 82 7TF 83 7TF 83 7TF 84 7TF 84A 7TF 100 7TF 100 7TF 100 7TF 100 7TF 110 7TF 110 7TF 115 7TF 115 7TF 115 7TF 117 7TF 122 7TF 130 7TF 131C 7TF 134 7TF 141 7TF 144 7TF 145 7TF 146 7TF 168 7TF 170 170 7TF 171 7TF 171 7TF 7TF 171 7TF 196A 7TF 199.2 7TF R79 202 7TF R79 220 65 PL 64 64 63 63 63 63 62 45 45 65 PL 60 65 62 62 62 61 PL 62 PL 61 61 63 63 58 63 64 DM 64 64 50 60 40 61 45 40 40 53 60 55 58 50 62 50 61 50 50 50 40 40 40 64 61 60 55 NGC NGC NGC ANACS NGC NGC ANACS ANACS ANACS ANACS NGC raw NGC ANACS ICG ANACS ANACS NGC ANACS ANACS ANACS NGC NGC ANACS ANACS NGC NGC ANACS ANACS raw PCI raw raw ANACS ANACS ANACS ANACS ANACS ANACS ANACS ANACS ANACS raw ANACS ANACS ANACS ANACS raw ANACS ANACS ANACS ANACS Aug-05 Mar-05 Sep-05 Jul-05 Sep-05 Sep-05 Aug-05 Aug-05 Jun-05 May-05 Jan-05 Sep-05 Aug-05 Sep-05 Oct-05 Oct-05 Sep-05 Aug-05 May-05 Aug-05 Oct-05 Sep-05 Oct-05 Jun-05 Oct-05 Sep-05 Sep-05 Jul-05 Jul-05 Oct-05 Oct-05 Oct-05 Jul-05 Jun-05 Aug-05 Jul-05 May-05 Aug-05 Jun-05 Jul-05 Jun-05 Jul-05 Sep-05 Oct-05 Jul-05 Jul-05 Aug-05 Sep-05 Sep-05 Aug-05 Aug-05 Sep-05 H B&M H H E E E H E E B&M E TT H E TT E E E E E E E E E E H E E E E E E E E E E E E E E E E E E E E E PP E E E VAMVIEW – 23 – DECEMBER 2005 price $2,300 $575 $345 $253 $182 $305 $127 $138 $80 $78 $2,875 $87 $1,980 $184 $320 $154 $125 $102 $60 $65 $133 $91 $58 $250 $700 $203 $196 $50 $50 $31 $614 $65 $50 $25 $325 $76 $100 $60 $85 $100 $150 $60 $91 $130 $95 $150 $150 $59 $235 $125 $75 $299 Recent VAM sales prices . . . date 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878 7TF 1878-CC 1878-CC 1878-CC 1878-CC 1878-CC 1878-CC 1878-CC 1878-CC 1878-CC 1878-CC 1878-S 1878-S 1878-S 1878-S 1878-S 1878-S 1878-S 1878-S 1878-S 1878-S 1878-S 1878-S 1878-S 1878-S 1878-S (continued from page 23) VAM grade service date sold venue price R79 222 R79 223 R79 225 R79 229.1 R79 229.1 6 6 6 6 6 11 11 11 18 24 1D 5 6 17A 17A 19A 19A 23 26 28 36 36 46A 57 long 62 58 55 62 58 63 62 62 62 58 64 63 62 40 50 58 62 64 PL 55 50 65 64 62 12 63 63 50 64 25 50 ANACS ANACS ANACS ANACS ANACS PCGS ANACS ANACS ANACS ANACS ANACS ANACS PCGS ANACS ANACS ANACS ANACS ANACS ANACS ANACS PCGS NGC PCGS PCGS ANACS ANACS ANACS PCGS ANACS raw Oct-05 May-05 Jul-05 Oct-05 Jul-05 Jul-05 Sep-05 Sep-05 Oct-05 Aug-05 Jul-05 May-05 Sep-05 Aug-05 Jul-05 Jun-05 Aug-05 Sep-05 Jun-05 May-05 Aug-05 Aug-05 Feb-05 Sep-05 Sep-05 Jun-05 Sep-05 Sep-05 Jul-05 Oct-05 H E E E E E H H E E E E E E E E H E E E PP E E E E E PP E E E $66 $170 $100 $405 $260 $306 $253 $230 $225 $225 $380 $330 $212 $202 $315 $90 $196 $98 $250 $125 $400 $369 $39 $104 $81 $100 $100 $150 $199 $456 Mar-05 Jul-05 Aug-05 Sep-05 Aug-05 Sep-05 Sep-05 Sep-05 Sep-05 Jul-05 Jul-05 Sep-05 Sep-05 Sep-05 Jul-05 Aug-05 Jul-05 Jul-05 Jul-05 E B&M H H E H H H H E E H E E E E E E E 1879 18791879-CC 1879-CC 1879-CC 1879-CC 1879-CC 1879-CC 1879-CC 1879-CC 1879-CC 1879-CC 1879-CC 1879-O 1879-O 1879-O 1879-O 1879-O 1879-O 1879-O 21 3 3 3 3 3 3 3 3 3 3 3 4 4 4 4 4 28 39A VAMVIEW 58 64 63 62 45 45 40 40 30 12 12 10 63 50 50 45 45 58 62 ANACS NGC PCGS PCGS ANACS ANACS ANACS ANACS ANACS ANACS ANACS ANACS NGC ANACS raw ANACS ANACS ANACS ANACS – 24 – DECEMBER 2005 $146 $8,913 $6,613 $4,025 $708 $633 $431 $403 $253 $135 $95 $104 $459 $87 $75 $125 $125 $911 $156 date 1879-S 1879-S 1879-S 1879-S 1879-S 1879-S 1879-S R78 R78 R78 R78 R78 R78 VAM grade service date sold venue price 9 9 9 26 42 51 51 61 60 50 64 53 35 15 ANACS ANACS ANACS NGC ANACS ANACS SEGS May-05 Jul-05 Jul-05 Aug-05 Jul-05 Jul-05 Sep-05 E E E E E E PP $125 $150 $50 $60 $65 $100 $30 1A 1A 1A EDS 3 EDS 5A 6 6 6 6 6 6 6 7C 9 21 23 32A 32A 39A 39A 4 4 4 4 4 4 4 4 4 4 4 5 5 5 5 5 5 5 5 5 5 5 5 5 45 20 50 50 63 62 60 55 50 45 30 30 55 62 65 55 63 63 63 53 65 PL 65 65 65 65 64 DM 64 63 DM 63 63 63 65 DM 65 PL 65 65 65 64 DM 64 PL 64 64 64 63 DM 63 PL 62 DM Aug-05 Sep-05 Feb-05 Jan-05 Jun-05 Jul-05 Jul-05 Sep-05 Jul-05 Aug-05 Jul-05 May-05 May-05 Jul-05 Aug-05 Sep-05 Jul-05 Aug-05 Sep-05 Sep-05 Apr-05 Aug-05 Sep-05 Jul-05 Sep-05 Aug-05 Aug-05 Jul-05 Sep-05 Aug-05 Sep-05 Aug-05 Sep-05 Oct-05 Jan-05 Aug-05 Oct-05 Sep-05 Sep-05 Oct-05 Jul-05 Apr-05 Sep-05 Sep-05 E E E PP E E H H E E E E E E E E E PP E PP B&M H H B&M H B&M TT H H TT H H H E B&M H E H TT E E B&M H H 1880 188018801880188018801880188018801880188018801880188018801880188018801880188018801880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC R78 R78 R78 R78 R78 R78 R78 R78 R78 R78 R78 VAMVIEW ANACS raw ANACS ANACS PCGS ANACS ANACS PCGS SEGS ANACS ANACS ANACS ANACS PCGS NGC NGC NGC PCGS raw raw PCGS NGC PCGS PCGS PCGS PCGS PCGS NGC NGC NGC NGC ANACS PCGS PCGS PCGS NGC PCGS PCGS PCGS PCGS NGC PCGS ANACS NGC – 25 – DECEMBER 2005 $250 $158 $182 $100 $132 $628 $127 $322 $305 $81 $45 $45 $165 $788 $158 $456 $800 $600 $851 $750 $4,370 $2,990 $2,875 $2,530 $2,070 $4,485 $935 $1,552 $690 $578 $460 $2,760 $1,323 $1,300 $1,208 $978 $2,057 $805 $743 $612 $522 $920 $460 $518 Recent VAM sales prices . . . date 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-CC 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-O 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S R78 R78 R78 R78 R78 VAM 5 5 6 6 6 6 6 6 6 7 7 7 7 7 1A 1A 1A 4 4 4 4 4 4 4 4 4 4 5 5 5 5 5 5 6 6A 6A 6A 6A 6A 6C 48 49 8 8 8 8 8 8 8 8 9 VAMVIEW grade 62 61 64 DM 64 PL 64 63 PL 63 62 61 66 65 64 64 12 58 55 50 63 63 63 63 62 61 61 61 58 45 64 PL 62 PL 61 DM 50 50 45 58 55 53 53 53 50 53 30 62 66 65 DM 65 65 65 64 64 63 67 service NGC raw NGC PCGS PCGS ANACS PCGS ANACS ANACS PCGS PCGS NGC PCGS ANACS ANACS ANACS ANACS PCGS PCGS PCGS NTC PCGS ANACS ANACS ANACS ANACS ANACS PCGS PCGS NGC ANACS ANACS ANACS ANACS ANACS NGC ANACS ANACS ANACS ANACS ANACS PCGS NGC PCGS PCGS NGC NGC NGC PCGS ANACS PCGS – 26 – (continued from page 25) date sold Aug-05 Oct-05 Jul-05 Sep-05 Sep-05 Sep-05 Jul-05 Jul-05 Sep-05 Sep-05 Jul-05 Sep-05 Jul-05 Sep-05 Jan-05 Sep-05 Sep-05 Oct-05 Sep-05 Sep-05 Oct-05 Oct-05 May-05 Jul-05 Oct-05 Jan-05 Jul-05 Aug-05 Oct-05 Sep-05 Jun-05 Sep-05 Jul-05 Jan-05 Jan-05 Oct-05 Oct-05 Oct-05 Aug-05 Aug-05 Jul-05 Sep-05 Oct-05 Oct-05 Aug-05 Oct-05 Sep-05 Aug-05 Oct-05 May-05 Jan-05 venue H E E H E H H E H H E H E H PP E TT E H H E E E H E PP E H E TT E TT E PP PP E E E E TT E E TT E H E H E E E B&M DECEMBER 2005 price $403 $510 $1,463 $978 $725 $431 $516 $450 $380 $14,950 $2,275 $1,265 $1,100 $173 $85 $31 $23 $750 $575 $489 $178 $280 $210 $115 $99 $100 $40 $2,531 $630 $242 $75 $23 $22 $95 $70 $157 $47 $41 $71 $94 $35 $1,700 $468 $1,325 $242 $213 $207 $191 $108 $150 $4,888 date VAM grade service date sold venue price 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 1880-S 9 9 9 9 10 10 10 10 11 11 11 11 11 11 11 11 11 11 11 11 11 11 12 22 46 47 66 65 PL 64 PL 62 65 64 63 62 66 DM 66 DM 66 66 65 65 65 65 65 64 DM 64 64 64 63 63 64 63 64 NGC PCGS raw PCGS NGC NGC ANACS ANACS PCGS PCGS PCGS NGC PCGS PCGS PCGS PCGS NGC PCGS PCGS PCGS ANACS ANACS ANACS ANACS ANACS PCGS Aug-05 Aug-05 Sep-05 Aug-05 Oct-05 Oct-05 Sep-05 Sep-05 Sep-05 Oct-05 Oct-05 Sep-05 Jul-05 Jul-05 Aug-05 Aug-05 Aug-05 Aug-05 Oct-05 Oct-05 Sep-05 May-05 Aug-05 May-05 Aug-05 Sep-05 H H E E TT E E H E E E H H H H E H H E E H E H E H E $460 $311 $104 $52 $220 $160 $185 $63 $3,300 $2,561 $382 $1,150 $299 $265 $276 $185 $207 $322 $113 $113 $66 $90 $39 $100 $35 $50 1881-CC 1881-CC 1881-O 1881-S 1881-S 1881-S 1881-S 1881-S 1881-S 1881-S 2 2 22 1A 1D 6 7 31 57 57 65 65 63 61 64 63 63 64 66 64 Sep-05 Sep-05 Aug-05 Jul-05 Jul-05 Jul-05 Oct-05 Aug-05 May-05 Jul-05 H H E H E H E E E E $748 $633 $51 $31 $235 $42 $62 $45 $206 $106 188218821882-CC 1882-CC 1882-CC 1882-CC 1882-CC 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 21 8 6A 6A 6A 6A 6A 3 3 3 3 EDS 3 EDS 3 EDS 3 EDS 64 50 63 63 63 63 62 55 53 50 63 60 60 58 PL Aug-05 Feb-05 Sep-05 Jun-05 Jul-05 Aug-05 Aug-05 Oct-05 Oct-05 Oct-05 Oct-05 Aug-05 37024 Sep-05 E E H E E E E H E H E TT E PP $157 $26 $184 $283 $270 $211 $166 $69 $255 $51 $949 $253 $350 $450 1881 PCGS NGC NTC ANACS PCGS ANACS PCGS NGC NTC NGC 1882 VAMVIEW PCGS raw ANACS raw GSA PCGS PCGS ANACS ANACS ANACS ANACS ANACS ANACS ANACS NGC – 27 – DECEMBER 2005 Recent VAM sales prices . . . date (continued from page 27) VAM grade service date sold venue 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O/S 1882-O 1882-O 1882-O 1882-O 1882-O 1882-O 1882-O 1882-O 1882-O 1882-O 1882-S 3 EDS 3 EDS 4 4 4 4 4 4 4 4 4 EDS 5 5 5 5 5 5 5 5 5 7 7 7 7 7 7 10 17A 23 29A 1 58 53 65 64 64 63 63 63 55 55 35 64 64 64 63 60 60 60 58 58 65 64 PL 64 63 61 61 45 64 55 50 64 raw NGC NGC PCGS PCGS PCGS PCGS raw ANACS ANACS ANACS PCGS PCGS NGC PCGS raw ANACS ANACS ANACS ANACS NGC PCGS PCGS ANACS NGC ANACS ANACS PCGS ANACS ANACS PCGS Feb-05 Oct-05 Aug-05 Sep-05 Aug-05 Jan-05 Aug-05 Sep-05 Aug-05 May-05 Jun-05 Aug-05 Aug-05 Sep-05 Aug-05 Oct-05 Sep-05 Aug-05 May-05 Oct-05 Oct-05 Jul-05 Sep-05 Sep-05 Oct-05 Aug-05 37024 May-05 Jul-05 May-05 Sep-05 E E H H TT B&M H E E E PP H H E H E E E E E H E E E H E E E H E E 1883188318831883-CC 1883-CC 1883-CC 1883-CC 1883-CC 1883-O 1883-O 1883-O 1883-O 1883-O 1883-O 1883-O 1883-O 1883-O 1883-O 10 10 36A 3 3A 5A 5A 8 1 1 1A 1D 1F 2 2 3 4 4 45 35 61 63 64 65 63 64 65 64 55 64 60 65 64 63 63 DM 63 May-05 Oct-05 Jan-05 Jul-05 Aug-05 Jul-05 Aug-05 Jul-05 Sep-05 Sep-05 Sep-05 May-05 May-05 Oct-05 Jul-05 Sep-05 Jun-05 Oct-05 E E PP E E E E E E E PP E E E E E E E price $31 $255 $20,700 $2,013 $2,750 $782 $863 $161 $70 $70 $3,500 $4,313 $1,610 $1,912 $518 $76 $121 $181 $150 $86 $460 $234 $159 $103 $207 $118 $275 $199 $25 $1,010 $55 1883 VAMVIEW ANACS raw SEGS NGC PCGS NGC ANACS PCGS PCGS NTC ANACS raw ANACS NTC raw NTC PCGS ANACS – 28 – DECEMBER 2005 $250 $104 $75 $70 $305 $450 $212 $375 $130 $38 $350 $62 $290 $56 $29 $40 $150 $73 date VAM grade service date sold venue price 8 9 10 10 17 36A 36A 36A 43 43 43 LDS 43 LDS 43 LDS 47 63 65 64 63 61 64 61 55 62 62 64 63 63 62 raw raw raw PCGS ANACS SEGS ANACS ANACS raw NTC NTC NTC NTC ANACS Oct-05 May-05 May-05 Aug-05 Oct-05 Sep-05 Oct-05 Aug-05 Aug-05 Sep-05 Sep-05 Aug-05 Aug-05 May-05 PP E E E H E E E E E E E E E $40 $95 $45 $51 $42 $103 $36 $70 $41 $53 $53 $41 $40 $90 1884188418841884188418841884-CC 1884-CC 1884-CC 1884-O 1884-O 1884-O 1884-O 1884-O 1884-O 1884-O 1884-O 1884-O 1884-O 1884-O 1884-O 1884-O 1884-O 1884-O 1884-O 2A 2A 3 3 4 5 2 3 3A 4 6 6 6 6 6 6 10 10 10 10 10 21 21 21A 39 64 50 58 53 58 20 66 64 64 60 64 DM 64 PL 64 63 DM 63 DM 63 DM 63 63 62 62 61 64 64 60 65 Sep-05 Oct-05 Jun-05 Jul-05 Aug-05 May-05 Sep-05 Apr-05 Jun-05 Oct-05 Oct-05 Oct-05 Sep-05 Sep-05 Sep-05 Sep-05 Sep-05 Oct-05 May-05 Aug-05 Sep-05 Sep-05 Sep-05 May-05 Jul-05 H E E E E E H E E E H H H H H H E E E E E H E E E $115 $100 $52 $25 $70 $35 $718 $210 $325 $35 $184 $63 $138 $98 $104 $81 $41 $38 $60 $50 $60 $48 $114 $185 $206 18851885188518851885188518851885188518851885- 1 1D 1D 1E 3 3 4 5 9 9B 9B 65 64 63 65 67 65 62 64 64 63 62 Oct-05 Aug-05 Sep-05 Sep-05 Jul-05 Jun-05 Jul-05 Jul-05 Jun-05 Sep-05 Jul-05 H PP E PP E E E E E PP E 1883-O 1883-O 1883-O 1883-O 1883-O 1883-O 1883-O 1883-O 1883-O 1883-O 1883-O 1883-O 1883-O 1883-O 1884 ANACS ANACS ANACS NGC ANACS ANACS PCGS raw GSA PCGS ANACS ANACS ANACS ANACS ANACS ANACS ANACS PCGS SEGS ANACS ANACS ANACS ANACS ANACS ANACS NGC 1885 VAMVIEW ANACS PCGS raw NGC NGC PCGS raw raw NTC PCGS raw – 29 – DECEMBER 2005 $92 $90 $35 $250 $1,150 $256 $50 $150 $55 $100 $30 Recent VAM sales prices . . . date (continued from page 29) VAM grade service date sold venue price 18851885188518851885-CC 1885-CC 1885-CC 1885-CC 1885-S 1885-S 1885-S 1885-S 21 22 22 22 2A 4 4 2 4 6 6 7A 63 64 62 60 64 65 65 63 65 64 10 63 raw NTC raw raw NGC PCGS PCGS ANACS NGC PCGS ANACS PCGS Sep-05 May-05 Jul-05 Jul-05 Jun-05 Sep-05 Sep-05 May-05 Aug-05 Aug-05 Jun-05 Aug-05 E E E E E H H E H H E E $133 $666 $361 $350 $715 $1,323 $1,265 $516 $1,150 $489 $16 $306 18861886188618861886188618861886188618861886188618861886188618861886-O 1886-O 1886-O 1886-O 1886-O 1886-S 1886-S 1886-S 1886-S 1886-S 1886-S 1886-S 1 1A 1A 1C 1C 1C 1F 1G 1H 1H 17 17 17 21 21 24 1A 1A 1A 1C 1E 1A 2 2 2 2 2 2 64 64 61 65 64 61 64 64 65 64 64 64 58 58 45 66 58 58 58 64 50 64 65 DM 65 64 63 PL 63 61 Jun-05 Sep-05 Jan-05 Sep-05 Jul-05 Jun-05 Sep-05 Jul-05 Oct-05 Sep-05 Oct-05 Jan-05 Aug-05 Aug-05 May-05 Jun-05 Sep-05 Jul-05 Sep-05 Jan-05 Aug-05 Oct-05 Aug-05 Aug-05 Sep-05 Jul-05 Jun-05 Aug-05 E E PP E E E E E PP E E PP E E E E PP H H PP E TT H H H E E E $46 $79 $125 $285 $108 $61 $94 $205 $200 $106 $338 $135 $75 $31 $21 $185 $450 $345 $403 $150 $160 $495 $7,475 $3,220 $489 $453 $460 $145 18871887188718871887188718871887/6- 1 1A 1A 1A 1C 1D 1D 2 63 50 50 40 65 66 65 65 PL Jun-05 Sep-05 Aug-05 Sep-05 Oct-05 May-05 Oct-05 Sep-05 E PP E TT E E E H $39 $450 $600 $440 $55 $209 $45 $3,853 1886 NGC ANACS ANACS PCGS PCGS ANACS ANACS NGC raw NGC NGC ANACS ANACS ANACS ANACS NTC NGC NGC ANACS ANACS ANACS ANACS ANACS PCGS NGC PCGS NGC ANACS 1887 VAMVIEW raw raw ANACS ANACS raw NTC raw NGC – 30 – DECEMBER 2005 date VAM grade service date sold venue 1887/61887/61887/61887/61887/61887/61887/61887/61887/61887/61887/6188718871887188718871887188718871887188718871887188718871887188718871887188718871887-O 1887-O 1887-O 1887-O 1887/6-O 1887/6-O 1887/6-O 1887/6-O 1887/6-O 1887/6-O 1887/6-O 1887/6-O 1887/6-O 1887-O 1887-S 1887-S 1887-S 1887-S 1887-S 2 2 2 2 2 2 2 2 2 2 2 3 5 5 5 10 11 12 12 12 12 12 12 12 12 12 12 12A 13 13 22A 2 2 2 2 3 3 3 3 3 3 3 3 3 9 2 2 2 2 2 65 PL 65 64 PL 64 63 PL 63 63 63 63 62 PL 50 62 65 63 62 60 64 66 65 64 64 63 63 63 62 62 61 61 64 63 63 63 63 62 30 64 63 62 62 62 61 58 50 50 63 64 63 60 55 53 PCGS PCGS NGC NGC PCGS NGC PCGS PCGS PCGS NGC ANACS NGC PCGS ANACS SEGS raw PCGS PCGS PCGS NGC NGC NGC NGC ANACS ANACS NGC ANACS ANACS NGC NGC ANACS NGC ANACS ANACS ANACS PCGS NGC NGC NGC ANACS NGC ANACS ANACS ANACS ANACS ANACS NGC raw ANACS ANACS Oct-05 Sep-05 Aug-05 Jul-05 Sep-05 Sep-05 Aug-05 Aug-05 Aug-05 Aug-05 Jul-05 Jul-05 Oct-05 Sep-05 Sep-05 Sep-05 Jul-05 Sep-05 Jul-05 Oct-05 Oct-05 Oct-05 Oct-05 Apr-05 May-05 Sep-05 May-05 May-05 Aug-05 Aug-05 May-05 Aug-05 Oct-05 Aug-05 Jul-05 Sep-05 Sep-05 Oct-05 Aug-05 Jul-05 Sep-05 Oct-05 Oct-05 Jul-05 Oct-05 Oct-05 Jul-05 Sep-05 Aug-05 Jul-05 B&M H TT B&M H H E H H H E E E TT E E E E H TT E E E E E E E E E E E H H H E H H TT E H H TT E E H TT H E E H 4 63 May-05 E price $4,370 $3,450 $1,155 $920 $604 $374 $660 $548 $518 $403 $100 $611 $409 $50 $32 $23 $65 $360 $115 $83 $57 $89 $62 $65 $46 $36 $40 $153 $54 $64 $300 $150 $127 $86 $60 $6,728 $1,495 $625 $979 $835 $450 $352 $145 $163 $150 $275 $232 $129 $75 $35 1888 1888- VAMVIEW raw – 31 – DECEMBER 2005 $66 Recent VAM sales prices . . . (continued from page 31) date VAM grade service date sold venue 18881888188818881888188818881888188818881888188818881888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-O 1888-S 4 7 7B 8 11 11A 11A 12 16 17 33 33 36 1A 1A 2 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 7 9 17 21 21 24 oval oval oval oval 1A 62 55 65 65 62 64 64 61 63 50 58 53 65 63 62 58 55 53 50 50 50 50 45 40 40 35 35 20 20 20 20 62 64 50 45 4 30 55 50 40 40 62 ANACS ANACS PCGS raw ANACS NGC NGC ANACS ANACS SEGS ANACS ANACS NGC raw ANACS raw PCGS PCGS ANACS ANACS ANACS PCGS SEGS ANACS ANACS NGC NGC ANACS PCI SEGS raw PCI ANACS SEGS ANACS ANACS ANACS PCGS raw raw raw ANACS Oct-05 Oct-05 Aug-05 May-05 Aug-05 Sep-05 Sep-05 Jan-05 Oct-05 Jan-05 May-05 Jul-05 Sep-05 Jul-05 Aug-05 Sep-05 Aug-05 Oct-05 Oct-05 Sep-05 Aug-05 Aug-05 Oct-05 Sep-05 Jul-05 Aug-05 Oct-05 Oct-05 Oct-05 Jul-05 Sep-05 Jan-05 Oct-05 Jan-05 Jan-05 May-05 Jul-05 Sep-05 Sep-05 Oct-05 Sep-05 Sep-05 E E E E E E E PP E PP E E E E E PP E E TT PP E E E E E E E E E E E PP E PP PP E E E E E E H price $37 $27 $230 $106 $100 $190 $196 $50 $43 $80 $291 $145 $224 $153 $135 $120 $2,125 $1,025 $605 $800 $455 $787 $178 $203 $400 $113 $163 $280 $69 $44 $63 $60 $64 $85 $50 $40 $150 $75 $70 $40 $40 $207 1889 1889188918891889188918891889- 3 5A 7 9 12A 16 16 VAMVIEW 64 64 63 63 64 64 64 raw PCGS raw raw raw ANACS raw – 32 – Sep-05 Oct-05 Feb-05 Jul-05 Sep-05 May-05 Jun-05 E E E E E E E DECEMBER 2005 $64 $203 $27 $60 $55 $200 $42 date VAM grade service date sold venue price 188918891889188918891889188918891889-O 1889-O 1889-S 21 22 28A 32 33 33 35 39 6 21 3 64 63 63 63 63 63 63 61 50 30 64 NTC ANACS raw NGC PCGS PCGS raw ANACS SEGS ANACS ANACS Jun-05 Jul-05 Oct-05 Sep-05 Aug-05 Aug-05 Oct-05 Oct-05 Jan-05 Oct-05 Oct-05 E E E E E E PP E PP E TT $46 $138 $300 $60 $52 $44 $40 $125 $150 $65 $330 1890189018901890-CC 1890-CC 1890-CC 1890-CC 1890-CC 1890-CC 1890-CC 1890-CC 1890-CC 1890-CC 1890-CC 1890-CC 1890-CC 1890-CC 1890-CC 1890-CC 1890-CC 1890-CC 1890-O 1890-O 1890-O 1890-O 1890-O 1890-S 1890-S 1890-S 1890-S 6 13 14 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 5 10 10 10A 20 1 1 1A 1C 65 50 64 64 64 63 PL 63 62 PL 62 62 55 50 45 40 25 20 20 15 15 12 10 64 64 60 63 30 63 63 62 61 Feb-05 May-05 Oct-05 Sep-05 Oct-05 Oct-05 Aug-05 Jan-05 Sep-05 Aug-05 Sep-05 Sep-05 Oct-05 Jul-05 Jul-05 Oct-05 Jul-05 Aug-05 Aug-05 Oct-05 Oct-05 Aug-05 Aug-05 Oct-05 Jul-05 Jul-05 Aug-05 Jul-05 Jun-05 Aug-05 E E E H B&M E H B&M E E E E H E E E E E E E E TT E E E E E E E E $47 $26 $45 $6,900 $6,613 $4,383 $4,600 $4,025 $2,886 $3,237 $611 $795 $230 $307 $261 $274 $190 $141 $226 $178 $149 $286 $562 $37 $300 $100 $100 $90 $156 $97 189118911891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 2 2 3 3 3 3 3 3 61 60 65 65 64 64 64 64 May-05 Aug-05 Aug-05 Aug-05 Sep-05 Sep-05 Sep-05 Sep-05 E E H H H H H H $90 $90 $4,025 $3,450 $1,208 $1,208 $1,208 $1,208 1890 raw raw raw PCGS PCGS PCGS NGC PCGS PCGS PCGS raw NGC ANACS raw ANACS PCGS ANACS NGC PCGS PCGS raw ANACS PCGS raw PCGS ANACS PCGS PCGS PCGS NGC 1891 VAMVIEW ANACS ANACS PCGS PCGS PCGS PCGS PCGS PCGS – 33 – DECEMBER 2005 Recent VAM sales prices . . . date VAM grade 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-CC 1891-O 1891-O 1891-O 1891-O 1891-O 1891-S 1891-S 1891-S 1891-S 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 1A 1A 1A 1A 1A 3 3 8 8A 64 64 64 64 64 63 63 63 63 63 63 63 63 62 62 62 62 62 61 61 61 60 53 45 45 12 8 58 55 40 62 1892-CC 1892-CC 1892-O 1892-O 1892-O 1892-O 3 4 6 7 7 7 50 64 DM 60 50 50 45 18931893189318931893189318931893- 4 4 4 4 4 4 4 4 50 45 45 45 40 40 40 30 1894-O 1 62 service PCGS PCGS PCGS PCGS NGC NGC ANACS NGC PCGS PCGS NGC PCGS ANACS NGC NGC ICG ANACS ANACS NGC PCGS NGC NGC NGC ANACS ANACS ANACS raw ANACS ANACS ANACS NGC (continued from page 33) date sold venue Sep-05 Sep-05 Sep-05 Aug-05 Sep-05 Oct-05 Mar-05 Aug-05 Aug-05 Sep-05 Sep-05 Aug-05 Oct-05 Aug-05 Aug-05 Sep-05 Sep-05 Sep-05 Sep-05 Aug-05 Sep-05 Jul-05 Sep-05 Oct-05 Oct-05 Aug-05 Sep-05 Oct-05 Sep-05 May-05 Jul-05 H H H H H B&M B&M TT H H H H B&M H H TT H H H H H H E TT E TT E TT E E E $1,150 $1,035 $1,035 $1,035 $1,006 $691 $690 $688 $661 $633 $633 $633 $575 $518 $431 $418 $403 $322 $403 $403 $322 $299 $101 $45 $56 $30 $27 $30 $100 $60 $152 Sep-05 Aug-05 Sep-05 Oct-05 Aug-05 Jun-05 E H E H E E $440 $3,163 $200 $66 $100 $70 Sep-05 Aug-05 Sep-05 Aug-05 Jun-05 Jul-05 Sep-05 Oct-05 E E H E E E E H $230 $220 $219 $320 $250 $250 $177 $186 Aug-05 H $1,725 1893 ANACS ANACS ANACS raw ANACS ANACS raw ANACS 1894 VAMVIEW NGC – 34 – DECEMBER 2005 VAM grade 1895-S 1895-S 1895-S 1895-S 1895-S 1895-S 1895-S 3 3 3 3 3 3 4 55 53 45 12 8 4 64 DM 1896189618961896189618961896189618961896-O 1A 3 4 11 11 11 19 20 20 4 65 DM 67 63 65 65 64 62 61 53 12 18971897189718971897-S 2 6A 6A 8 9A 55 63 62 62 62 189818981898-O 1898-O 1898-O 1898-O 1898-O 1 2A 2 2 7A 7A 13 58 63 64 64 64 64 63 189918991899-O 1899-O 1899-O 1899-O 1899-O 1899-O 1899-O 1899-O 1899-O 1899-O 1899-O 1899-O 1899-O 1899-O 6 6A 2A 4 4 4 4 5 5 6 6 10 18 31 31 31 64 64 63 61 58 50 40 58 50 61 50 63 64 50 45 40 service date sold venue price Oct-05 Jul-05 Sep-05 Jun-05 Aug-05 Jul-05 Aug-05 E E H E E E H $1,626 $2,052 $748 $375 $295 $185 $13,800 Aug-05 Aug-05 Jul-05 Aug-05 Jul-05 Jul-05 Oct-05 Jun-05 Aug-05 Aug-05 H H E E E E E E E E $891 $3,450 $81 $38 $169 $41 $40 $100 $30 $160 Apr-05 Oct-05 Aug-05 Jun-05 Jul-05 E TT E E E $25 $66 $22 $80 $200 May-05 May-05 Jul-05 Jul-05 Oct-05 Sep-05 Oct-05 E E E E E E H $19 $45 $71 $69 $80 $43 $45 Feb-05 Oct-05 Aug-05 Aug-05 Jun-05 Oct-05 Aug-05 Jul-05 May-05 Jul-05 Jul-05 Jun-05 Aug-05 Jan-05 Jun-05 Sep-05 E E E E TT TT TT E E E PP E E PP TT E 1895 price 1892 raw ANACS raw ANACS ANACS ANACS date ANACS ANACS ANACS ANACS ANACS ANACS PCGS 1896 NGC NGC raw raw ANACS NTC ANACS ANACS ANACS ANACS 1897 raw ANACS raw ANACS ANACS 1898 raw raw NGC NGC ANACS ANACS ANACS 1899 VAMVIEW raw PCGS NGC NNC ANACS ANACS PCGS NGC ANACS PCGS PCGS raw raw ANACS ANACS raw – 35 – DECEMBER 2005 $335 $425 $102 $510 $187 $165 $110 $318 $350 $2,403 $250 $32 $39 $175 $143 $152 Recent VAM sales prices . . . (continued from page 35) date VAM grade service date sold venue price 1899-O 1899-O 1899-O 1899-O 1899-O 1899-O 1899-O 1899-S 1899-S 1899-S 1899-S micro micro micro micro micro micro micro 7 7 7 7 45 45 45 45 45 40 35 64 63 61 45 PCGS PCGS PCGS raw raw PCGS raw NGC PCGS NGC ANACS Aug-05 Oct-05 Jul-05 Jul-05 Jul-05 Jul-05 Sep-05 Sep-05 Jul-05 Aug-05 Aug-05 E E TT E E TT E H H H E $183 $143 $105 $24 $13 $66 $16 $575 $374 $276 $60 6 11 11 11 11 15A 16 16A 18 19 24 24 24 24 2B 2C 3 5 7 8 8 8 8A 8A 8B 11 11 11 11 11 11 11 11 11 11 11 11 12 64 64 62 55 50 64 62 50 60 35 63 63 53 50 65 65 20 3 12 65 64 45 64 55 64 65 65 64 64 64 64 64 64 63 63 45 40 63 Jun-05 Oct-05 Oct-05 Sep-05 Oct-05 Sep-05 Jun-05 Jul-05 May-05 May-05 Oct-05 Sep-05 May-05 Jul-05 Jul-05 Aug-05 Apr-05 Sep-05 Jul-05 Jul-05 Sep-05 Jul-05 Oct-05 Jul-05 Aug-05 Sep-05 Apr-05 Oct-05 Aug-05 Sep-05 Sep-05 Sep-05 Sep-05 Sep-05 Sep-05 Aug-05 Jul-05 Sep-05 E E TT E TT E E E E E E H E E E E E PP E PP H E TT E E H B&M TT H H H H H H H E E H 1900 190019001900190019001900190019001900190019001900190019001900-O 1900-O 1900-O 1900-O 1900-O/CC 1900-O/CC 1900-O/CC 1900-O/CC 1900-O/CC 1900-O/CC 1900-O/CC 1900-O/CC 1900-O/CC 1900-O/CC 1900-O/CC 1900-O/CC 1900-O/CC 1900-O/CC 1900-O/CC 1900-O/CC 1900-O/CC 1900-O/CC 1900-O/CC 1900-O/CC VAMVIEW raw ANACS ANACS raw ANACS NGC ANACS ANACS ANACS ANACS NGC NGC ANACS ANACS PCGS PCGS SEGS raw raw PCGS PCGS ANACS PCGS ANACS PCGS PCGS PCGS PCGS PCGS PCGS PCGS PCGS NGC NGC ANACS ANACS ANACS NGC – 36 – DECEMBER 2005 $25 $70 $46 $26 $30 $154 $90 $35 $40 $25 $46 $86 $60 $40 $290 $200 $204 $195 $163 $2,550 $1,150 $77 $1,100 $150 $1,125 $2,760 $2,875 $1,210 $1,265 $1,150 $1,093 $978 $920 $748 $633 $90 $60 $920 date VAM grade service date sold venue price 1900-O/CC 1900-O 1900-O 1900-O 1900-O 1900-O 12 15 15 15 15A 32 45 64 45 45 65 63 ANACS NGC ANACS ANACS NGC raw Jul-05 Sep-05 May-05 Jul-05 Sep-05 Aug-05 E H E E E E $86 $81 $35 $35 $603 $42 1901190119011901190119011901-O 1901-O 1901-O 1901-O 3 3 3 3 5 5 13 25A 25A 29A 55 55 53 45 60 55 65 65 64 63 Aug-05 Apr-05 Sep-05 Jul-05 Oct-05 Jul-05 Sep-05 Sep-05 Aug-05 Aug-05 E E E E E H E E E E $3,551 $3,251 $1,977 $1,203 $1,086 $409 $100 $500 $400 $135 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1902-O 1 3 3 3 3 3 3 3 7 10 12 12 12 12 12 12 14 21 25 26 26A 26A 26A 26A 42 44 49 63 15 15 10 10 8 6 4 65 62 65 64 63 63 63 61 64 64 64 64 63 63 63 63 63 64 64 Aug-05 Mar-05 Oct-05 Aug-05 Jul-05 Aug-05 Oct-05 Sep-05 Jul-05 Sep-05 Aug-05 Aug-05 Aug-05 Sep-05 Aug-05 Aug-05 Sep-05 Jul-05 Sep-05 Aug-05 Jul-05 Jul-05 Jul-05 Aug-05 Sep-05 Jul-05 Aug-05 E E E E E E E E E E E E E E E E E E E E E E E PP E E E 19031903-S 1903-S 1903-S 1903-S 6A 2 2 2 2 55 50 45 40 40 Aug-05 Jul-05 Jul-05 Aug-05 Jul-05 E E E E E 1901 PCGS PCGS PCGS PCGS ANACS NGC ICG PCGS PCGS PCGS 1902 NTC PCGS raw raw raw raw PCGS ANACS NTC raw raw raw NTC NTC PCGS PCGS raw raw raw raw raw NGC NGC NGC raw NTC NGC $49 $400 $179 $177 $158 $97 $338 $169 $53 $39 $38 $42 $32 $49 $46 $38 $31 $125 $46 $55 $683 $406 $156 $200 $133 $63 $136 1903 VAMVIEW ANACS raw NNC PCGS PCGS – 37 – DECEMBER 2005 $100 $460 $565 $1,423 $1,799 Recent VAM sales prices . . . date (continued from page 37) VAM grade service date sold venue price 1903-S 1903-S 1903-S 1903-S 1903-S 1903-S 1903-S 1903-S 1903-S 1903-S 1903-S 1903-S 1903-S 1903-S 2 2 2 2 2 2 2 2 2 2 2 2 2 2 35 30 25 20 20 15 12 12 10 8 6 4 4 3 PCGS SEGS ANACS raw raw PCI raw SEGS PCGS PCGS NGC raw raw raw Oct-05 Jul-05 Sep-05 Aug-05 Oct-05 Jul-05 Sep-05 Aug-05 Jul-05 Aug-05 Sep-05 Oct-05 Sep-05 Aug-05 E E H E E E E E TT E E E E E $1,295 $395 $207 $306 $228 $185 $270 $123 $176 $360 $124 $42 $29 $52 1904-O 1904-O 1904-O 1904-O 1904-O 1904-O 1904-O 1904-O 1904-O 1904-O 1904-O 1904-O 1904-O 1904-O 1904-O 1904-O 1904-O 1904-O 1B 3 4B 6 6 10 10 11 12 22A 22A 22A 23A 26 28A 28A 28A 29 64 PL 65 63 63 63 65 64 PL 64 66 66 64 63 62 63 65 64 62 65 Jun-05 Jun-05 May-05 Jul-05 Jul-05 Jun-05 Jul-05 Aug-05 Aug-05 Jun-05 Sep-05 Aug-05 Sep-05 Aug-05 Aug-05 Sep-05 Jul-05 Aug-05 E E E E E E E E E E E E E E E E E E $41 $57 $103 $87 $81 $197 $48 $60 $153 $210 $90 $96 $106 $40 $693 $100 $24 $135 192119211921192119211921192119211921192119211921192119211921- 1 1A 1A 1A 1C 1C 1E 1E 1E 1E 1G 1G 1G 2 3 63 62 61 61 65 55 64 63 61 60 63 60 60 63 62 Oct-05 Jul-05 Aug-05 Jul-05 Aug-05 Dec-04 Sep-05 Jul-05 Jul-05 Sep-05 Feb-05 Jul-05 Dec-04 Jun-05 Jun-05 H E E E E E E E E PP E E E E E $48 $21 $125 $125 $174 $40 $400 $60 $60 $65 $29 $30 $150 $29 $42 1904 NTC NTC ANACS NTC NTC PCGS NTC NGC raw NTC PCGS NGC raw NTC PCGS ANACS raw ICG 1921 VAMVIEW ANACS SEGS ANACS ANACS NGC SEGS ANACS NGC NGC ANACS raw NGC ANACS NTC ANACS – 38 – DECEMBER 2005 date VAM grade service date sold venue price 19211921192119211921192119211921192119211921192119211921192119211921192119211921192119211921192119211921192119211921192119211921192119211921192119211921192119211921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 3A1 3A3 3AB 3B 3C 3E 3F 3F 3G 3H 3-O 3-O 3-O 3V 3X 3X 4 4 8 13 13 14 18 18 23 23A 24A 27A 27A 27A 29 30 32A 32A 32A 41 41A wide wide wide 1A 1A1 1A1 1A1 1AA 1AA 1AE 1AE 1AE 1AE 1AE 1AG 64 61 63 60 58 63 64 62 63 63 63 63 62 50 63 50 62 50 64 64 62 58 64 62 63 50 63 63 63 61 62 63 66 63 62 58 63 63 62 61 40 60 53 50 62 62 66 64 64 64 50 58 NGC ANACS raw SEGS ANACS raw raw ANACS NGC ANACS raw ANACS SEGS raw ANACS raw ANACS ANACS NTC PCGS ANACS raw NTC ANACS ANACS raw ANACS NGC ANACS ANACS ANACS ANACS NGC ANACS raw ANACS raw raw SEGS ANACS ANACS ANACS raw SEGS ANACS ANACS NTC ANACS ANACS raw ANACS SEGS Aug-05 Sep-05 May-05 Jan-05 Jul-05 Aug-05 Sep-05 Aug-05 Jan-05 Jan-05 Apr-05 May-05 Sep-05 Aug-05 May-05 Mar-05 Aug-05 Sep-05 Jun-05 Aug-05 Jun-05 Apr-05 Jul-05 May-05 Jun-05 Jul-05 Jul-05 Jun-05 May-05 May-05 May-05 May-05 Aug-05 May-05 May-05 Sep-05 Aug-05 Oct-05 Sep-05 Sep-05 Jul-05 Jan-05 Dec-04 May-05 Oct-05 Jun-05 Sep-05 Jan-05 Sep-05 Jun-05 Jul-05 Jan-05 E PP E PP E E E E PP PP E E PP E E E E TT E E E E E E E E E E E E E E E E E E E E PP PP E PP E E E PP E PP PP E E PP $97 $45 $33 $65 $100 $25 $26 $35 $125 $75 $74 $166 $55 $25 $81 $111 $45 $26 $40 $106 $60 $25 $150 $121 $67 $124 $25 $66 $100 $98 $52 $156 $675 $76 $63 $17 $40 $32 $30 $35 $150 $135 $110 $159 $300 $120 $256 $175 $200 $53 $120 $120 VAMVIEW – 39 – DECEMBER 2005 Recent VAM sales prices . . . date 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D (continued from page 39) VAM grade service date sold venue price 1AH 1AH 1AJ 1AK 1AL 1L 1AL 1AL 1AM 1AM 1AW 1AY 1AY 1B 1B 1B1 1B1 1B1 EDS 1BG 1B2 1D 1D 1D 1E 1E EDS 1F 1F 1F 1G 1G 1G 1H 1H 1i 1i 1i 1i EDS 1J 1J 1J 1J LDS 1K 1L 1L 1L 1L 1L 1L 1M 1M 63 58 63 58 61 55 50 40 63 55 55 63 61 61 55 50 50 62 60 45 63 63 62 60 66 64 63 50 63 62 61 63 62 64 63 63 65 64 63 50 58 55 65 64 63 63 62 50 63 63 NGC raw ICG raw ANACS ANACS raw raw raw ANACS SEGS raw SEGS ANACS ANACS raw raw raw SEGS SEGS raw SEGS ANACS ANACS NTC PCGS ANACS ANACS ANACS SEGS ANACS NGC ANACS PCGS ANACS PCGS raw raw NGC ANACS ANACS ANACS PCGS ANACS ANACS raw raw ANACS raw PCGS Jan-05 Oct-05 Aug-05 Jun-05 Jul-05 Oct-05 Jan-05 Feb-05 Sep-05 Sep-05 Apr-05 Apr-05 Sep-05 Jan-05 May-05 Jun-05 Aug-05 Sep-05 Sep-05 May-05 Jun-05 Jan-05 Sep-05 Jan-05 Sep-05 Aug-05 Jan-05 May-05 Sep-05 Jan-05 May-05 Jan-05 Sep-05 Aug-05 Jan-05 Jul-05 Jun-05 May-05 Aug-05 Jan-05 Oct-05 Jan-05 Jun-05 Jan-05 Sep-05 May-05 Jun-05 Aug-05 Jun-05 Jun-05 PP E E E PP E PP PP E PP PP PP PP PP PP E E E PP E E PP PP PP E E PP E PP PP E PP PP E PP E E E E PP E PP PP PP PP E E E E PP $200 $35 $336 $39 $60 $65 $125 $200 $25 $75 $275 $225 $75 $75 $50 $19 $26 $31 $125 $312 $286 $100 $100 $65 $256 $203 $125 $90 $155 $105 $75 $130 $120 $203 $125 $200 $75 $131 $255 $110 $150 $125 $300 $120 $125 $34 $32 $65 $42 $125 VAMVIEW – 40 – DECEMBER 2005 date 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-D 1921-S 1921-S 1921-S 1921-S 1921-S 1922192219221922- VAM grade service date sold venue price 1N 1N 1N 1N 1P 1P 1P 1P 1Q 1Q 1Q 1R 1R 1S 1AS 1T 1T 1U 1U 1U 1V 1V 1V 1W 1W 2A 2A 2A 2A 2B EDS 3A 3A 3A 5A 7 8A 8A 8A 8B 10A 17 18 18 JOH-8 1F 1H 2C 3 3 2E 5A 12A 12A 62 58 55 55 64 64 63 58 63 63 63 58 50 55 50 64 63 62 61 50 64 62 62 64 61 64 64 63 64 62 64 63 50 55 62 63 58 53 45 55 50 65 65 63 63 58 58 61 50 62 53 61 53 ANACS raw ANACS ANACS NGC raw ANACS raw ANACS PCGS ANACS ANACS ANACS ANACS ANACS ANACS ANACS ANACS ANACS raw PCGS ANACS raw NGC ANACS NGC NGC raw NGC raw NGC ANACS raw ANACS SEGS ANACS raw ANACS raw raw ANACS NGC NGC raw NGC raw SEGS raw raw ANACS SEGS ANACS ANACS Jan-05 Aug-05 Jan-05 Jan-05 Jan-05 Jul-05 Sep-05 Jun-05 Jan-05 Jan-05 Sep-05 May-05 Sep-05 Sep-05 Oct-05 Sep-05 Jun-05 Sep-05 Jan-05 Feb-05 Jun-05 Sep-05 Jun-05 Aug-05 May-05 Sep-05 Jan-05 Jul-05 Jan-05 Jul-05 Jan-05 Jan-05 Apr-05 Sep-05 Sep-05 Jan-05 May-05 Sep-05 Feb-05 Aug-05 Jun-05 Jul-05 Jul-05 May-05 Aug-05 Sep-05 Jan-05 Mar-05 May-05 Jan-05 Sep-05 Jan-05 Jan-05 PP PP PP PP PP E PP E PP PP PP PP PP E E PP PP PP PP PP PP PP E E E PP PP E PP E PP PP E PP PP PP E PP PP PP E E E E E E PP E E PP PP PP PP $145 $100 $85 $85 $175 $45 $150 $22 $275 $275 $225 $135 $150 $200 $150 $275 $125 $120 $115 $175 $140 $75 $235 $165 $165 $190 $120 $90 $80 $125 $250 $415 $32 $25 $182 $55 $45 $12 $34 $250 $135 $90 $90 $185 $75 $125 $150 $206 $31 $150 $200 $28 $31 VAMVIEW – 41 – DECEMBER 2005 Want to subscribe? We hope you enjoyed this issue of VAMview and found it both informative and useful in your collecting efforts. Issues are published four times per year and are distributed only via e-mail as PDF files which can printed out or viewed on your monitor. To do so, however, you will need to have Acrobat Reader, which can be downloaded for free on the internet at: www.acrobat.com (the download link is located at the bottom left of the page.) Subscriptions to VAMview are only $12 per year. Please send payment in the form of checks, money orders or Morgans (sorry, no credit cards) to: VAMview 3137 Diablo Ave. Hayward, CA 94545 [email protected] VAMVIEW – 42 – DECEMBER 2005
