VAM Basics?

Veep

I've never been into Morgan dollars but find them too hard to avoid at auctions, etc. I'm wondering which VAMs are most sought after and how to determine their value.

I have Breen's Enclyopedia and a couple of other dollar books that are very detailed. But, I have no idea which VAMs are most prized and most valuable. I know that there's a 4th edition VAM book and a "Top 100 VAM" book. Would either of these, or another source, provide some clue as to which ones I should keep a lookout for?
What's the best way to find values?

Knowledge is worth money and I don't want to be cherry picked because I missed something.

Thanks!

kranky

The Top 100 VAM book would be a good place to start, since those are generally the most desirable. No doubt there are rare VAMs not in the book, but if no one's looking for them the demand isn't there. Also check out vamlink.com.

Veep

Kranky--

Thanks for pointing me in the right direction and for the link. Imagine that... a website dedicated to VAMs. I'm now convinced that there existes a website for EVERYTHING.

vamseeker

You may also want to check out this VAM site.

The Encyclopedia of Morgan & Peace Dollars by Van Allen & Mallis who VAMs were named for is a must have.

Check Ebay, it's usually available for a good price. Make sure you get the 4th edition which is the latest.

Gilbert

Hey Kranky,

The rare, or rather, undiscovered VAMs that aren't in the book are exactly the ones I want to find. Once they are attributed, they become subject to a premium; not all the time, but if you know you have an interesting variety, and know how to "emphasize" (not hype) its significance, well, that is what makes the unknown undiscovered variety desireable.

VEEP - as mentioned, the VAM book by Van Allen and Mallis, the VAM Keys (Top 100) by Fey and Oxman, the Hot 50 by Oxman and the VAMLink website where new discoveries and changes are posted, are the primary tools you would need to benefit most from VAMing (specializing in collectible varities). There are also 3 other publications if you want narrow your focus even further (1878 8tf, doubled tf and B1 reverses AND 1879S w/rev of 78).

Yes, yes, yes; Morgan dollars have quite a bit to offer depending on one's peculiarities.

Sorry, I forgot to mention, which goes to the heart of determining their prices; Michael Fey publishes a newsletter "The Top 100 Insights" which includes current analyses of the Top 100 market.

BUT, as a VAMer, the most gratification comes from acquiring the desirable varieties at common prices, cherrypicking. Why is this ethical or moral - well, in most cases, only VAM collectors will pay a premium for any but the most obvious varieties (Redbook type) thus, you will only receive common payment when selling unless you market them to the variety specialists, so, if one is only going to pay common prices for a particular variety, it is only fair that you purchase them at common prices. What makes them worth a premium is your own effort at learning what coins are desirable withing the select group. In other words, your study, investment(s), attributions and finding the market is what justifies the premium; not simply having the coin. For example, I have about 7 books, 2 subscriptions and the time I've spent studying and corresponding within the select group of VAMers justifies my asking for XX dollars for XX coin, which I will probably only get from my VAM peers. The average dealer (one who deals in various series) is usually not interested in limiting he resources to a select group. In other words, its a trade-off; he buys a common and sells at common; you apply your studies and skills because you have made the investment in the specialty and offer them within the circles where the coin is considered more than common, and maybe, you get a premium when you turn it over. I hope that made sense.

kranky

I agree with my fellow Keystone State resident Gilbert.

But I think there are two different approaches being talked about. If you want to know which VAMs "are most sought after" to cherrypick (as Veep said), then the Top 100 is the guide.

Gilbert's explanation of finding undiscovered VAMs and having them recognized as VAM varieties is right on. But you really have to know your stuff!