Interesting Morgan Silver Dollar Find

numonebuyer

I was going through my Morgan Silver Dollars. I was assigning VAM numbers and ran across the following while looking at my 1887 Morgan
.

I bought this coin through eBay a couple of years ago. Until now, I never really had time to find out its VAM number. Well, it looks like VAM 2 to me. Here is the whole obverse..

I bought the coin as MS-65 and I think it is at least that grade. What do you think?

Numonebuyer

FC57Coins

Wow - if that's what I think it is - it's a 7/6 and you just scored a big time chaching!!! - CONGRATULATIONS!!!!

Russ

Okay, the only thing I recognized so far was "cha-ching". Details for us ignoramuses?

Russ, NCNE

littlewicher

I think it is a VAM 2. It looks like it has the line on the bottom of the 7, so I think it has a chance of being it. I don't think it's VAM 1A, 5, or 12.

mbbiker

cha-ching!!!

FC57Coins

Im not sure what vam it is Russ - but if it's an 1887/6 its quite the rarity!

numonebuyer

It is a VAM 2. I own a PCGS MS-60 and an MS-63 1887/6 to compare with as well. My pulse is racing.

I bought this as an 1887 MS-65. I have independently graded it the same (before I put it under the scope and saw the 7/6), so no bias involved.

Numonebuyer

SeattleSlammer

numonebuyer,

I'm not much on VAMs, but I do appreciate amazing picture taking ability....and that's one hell of a nice, detailed, extra close up pic! Kudos.

Dog97

Looks like a 2 to me too.

kranky

Hey, that's a great find. A VAM 2! I love to hear about a great cherrypick.

numonebuyer

The coin in the preceding posts cost me $27 a couple years ago.

Here is the picture of my PCGS MS-63 1887/6 Morgan.



The one I just found is certainly higher than a MS-63.

Pulse is still racing. Things like this just do not happen to me.

Thanks for all the great posts.

Numonebuyer

coinkat

Without a doubt it is the 1887 7/6... great find. I will say that this is a heavily promoted variety and is not as rare as certain other VAMS including the 1880 second 8/7 VAMS 6 through 8. Its just that out of these separate and distinct VAMS, there are very few known (and VAM 7 may be unknown in MS) that grade MS60+...Look at the pop reports for both the 1887 7/6 and the 1887-o 7/6. There are enough of these floating around to be promoted which makes the value associated with the coin what it is...

numonebuyer

I sent it off to PCGS on Saturday. I sent it in on a 7 day express. I hope I get it back in two weeks.

I will keep you all updated on its grade.

Numonebuyer

billiardmaster

7 over 6 yes...............ms65 not today..
Still good find,
Rusty

K6AZ

Without question a VAM 2 7/6. The only question is the grade, but as long as it grades as MS without problems, that is a big score. I just got a bunch of raw 87s in yesterday, I wasn't so lucky. I did find a nice VAM 3 though.

hughesm1

Nice find numonebuyer. Definite cha-ching. Though from your obverse scan, the chatter in the fields and portrait make it look like a 63, IMO.

Rampage

The big question of the day is what are the "values" for this type of coin in MS63, MS65, etc.?

I am not much in to VAMs wither, but it does look like a nice coin.

Rampage.

K6AZ

Rampage, this VAM is listed in the greysheet. The greysheet values are:

MS60 - 205/225
MS63 - 490/535
MS64 - 800/875
MS65 - 3350/3650

Gilbert

A bit late, but, many times, the desirable VAMs (Top100) which the 1887 V2 is, garner the best money in VAM auctions. I can't locate my latest Top100 price list, but the one I can find is only a quarter old, and the prices surprising are in line with the greysheet on this one.

You just missed the Spring Rarities auction (for consignements) but upon completion, the "guide" may change.

In any event, I don't think this one (based on the image) will 65 the way grades are going today. It is still a nice specimen that I have no doubt you will get your money and more out of.

numonebuyer

As long as I get MS-63 or higher I will be thrilled. If I get that, it will pay for the new microscope I used to find it (because it will be prettier than my existing MS-63 1887/6, so I will sell the existing MS-63 and my MS-60 1887/6). If it comes back MS-64 or higher then that is gravy.

If it comes back lower than MS-63 then I will be disappointed. But in any regard, I should be able to get more than I paid ($27).

Thanks for all of the great replies.

Numonebuyer