1888-o Scar Face - Vam 1b?

Agflyer

I was perusing my local coin shop today for some stellar Ike dollars, but they didn't have anything more that I hadn't already seen. Not wanting to leave empty handed and thinking that I needed to find something for the quarterly freebie, I asked if they had any neat New Orleans mint coins. I was looking through lots of Morgans when he showed me an 1888-o with a very obvious die crack through the face. It was labeled as the Scar Face, 1888-o Vam 1b in MS62. The price he quoted was right so, now I have it. . . VAMlink's oppinion is that there are "heavy premiums" for this coin and there was a lone NGC coin on Ebay that went unsold that was listed at nearly 9 times what I paid for this one. Does anyone have any idea as to its value? How about its rarity? After all this time I haven't figured out how to post a photo, but I can send a scan to someone if they would like to post if for me . Thanks in advance!

coinkat

The scarface is a rare variety and a nice MS62 should fetch between $575-650 perhaps higher depending how nice it is. It is tough and highly sought after in MS.

DennisH

If you put it in a PCGS holder I'll pay $2,000 for it.

Yes I'm serious.

kyleknap

Rick's Coin:



Top 100 Book Close-Up:

JrGMan2004

That's pretty cool!

PQpeace

I need that one !!
Larry

Wolf359

Saw one at the Frederick show in December in a PCGS holder, 62. Dealer said he cherried it and wanted $2750 for it. I passed...

Gilbert

With the publication of the Top100 prices in the new edition of the Redbook (well it's supposed to be in there) the market for VAMS, particularly the Top100, will probably go even further through the roof.

Currently the "Scarface" lists for $2500 in MS62 and a common 1888-O in MS62 lists for $22. Wow.

SDCollector

Top 100's are going to be in the Red Book? So much for collecting Top 100's...the prices will definitely sky rocket.

matteproof

Hi Agflyer. The photo of your Scarface is very nice. Are you willing to share how much you paid for it? I saw an Anacs ms62 at a coin show and the dealer wanted $2700.00 for it. If you found your coin by merely perusing a dealers box you made a great find. In all my years of collecting I've only seen a few. Congratulations on a great find! matteproof

coinkat

Okay... I must have been sleeping while the price increase on this one. I apologize for offering outdated information.

Has the increase on better VAMS been across the board? The less common 1880 VAM23 two digit overdate as well as the 1896, 1900 and 1902 micro o must be up as well. Has anyone seen ef45 to au50 examples of these coins offered lately?

matteproof

Hi coinkat. I'm not sure about other VAMS since they are not that interesting to me (and many of them are not rare either). However, the Scarface is an exception. Collectors have come to recognize the extraordinary special beauty and rarity of this coin. The "die break" on this coin is arguably the most amazing die break of any U.S. coin. Morgan dollar collectors now realize the importance of the Scarface as part the classic Morgan Dollar series itself (unlike most other vams). Proponents believe that a Morgan collection is incomplete without an example of the Scarface. Hard to argue that point (even as it is rumored that Redbook may start to list them).

Dr. Michael Fey wrote some interesting information on the huge rising prices of Scarfaces in a featured article in Greysheet a couple of years ago. My recollection is that the coin was referred to as an R7 in that article. Maybe someone on the board maintains old Greysheets and can pull the article. matteproof

coinkat

Thanks for the comments Matteproof. The VAMS I referenced are quite rare and with the possible exception of the 1902-o micro o are currently unknown in MS. I agree with you about what may constitute a full set of business strikes for Morgans... certainly the Hot Lips, Shifted Eagle and the micro o's should be obtained. There are others worthy of consideration too.