1901-P Shifted Eagle Sold for Over $6,000.00 in AU58??

Rampage

Is this an error? I read an article on RCI's website where they listed some of the top auction sales at one of the ANA shows recently. Several of the Top 10s sold for thousands. Is the VAM market that heated??

coinkat

If it is an attractive original coin, I am not surprised

coinkat

One other comment... some of the Morgan VAMS are quite rare in high grade and AU 58 for the shifted Eagle is rare... period.

DennisH

$6612 for a PCGS-58 1901 Shifted Eagle; $8912 for a PCGS-58 1888-O Hot Lips; $2990 for a PCGS-40 1896 micro-O; $2645 for a PCGS-35 1900 micro-O; $2070 for a PCGS-20 1902 micro-O; and $2645 for a PCGS-50 1903 micro-S.... Yes, the market for the most popular VAMs in high grades is heating up, and I expect it has only begun.

Things like the 1901 Shifted Eagle, 1890-CC Tailbar, 1888-O Hot Lips and 1888-O Scarface are all dramatic coins with catchy names that have made their way into the awareness radar screen of many Morgan collectors who are not in the VAM arena. It's possible that some of the time it has taken for this interest to take hold is the fact that for many of the "big" varieties, no examples are known to exist in Mint State grades. And for some (such as the micro-Os) even VF is a prize!

As time goes on, I suspect this awareness will gradually extend to other rare and/or obvious VAMs, and prices will continue to rise.

coinkat

The 1896 -O, 1900-O AND 1902-O micro "o" are rare and considering what other coins that are far more available are fetching, these results seem to reflect fact that these are finally being appreciated for what they are. The 1896-O micro in EF is an extreme rarity.

coinkat

DennisH

Have you tracked the value of the 1880-O hang nail which I think is VAM 1a? This could be one that has increased in value because it is obvious from the naked eye

DennisH

coinkat:

Sorry, but the Hangnail is not a coin I track. Has its VAM number been changed to 48? That's the latest information I have. Like you, I think there's a lot of upside value potential for all the VAMs that don't require a loupe to see... although as the years go buy and my eyesight worsens, it gets tougher to see anything without a loupe!

coinkat

Thanks for the comment and the 1880-O Hang Nail that I thought was VAM 1a could now very well be VAM48. I understand that not all have gone up, but this one seems to have the name and the look

elwood

Slider-Upgrade??
63 Bid is $11,500
Might not of had anyhting to do with the VAM???

DennisH

People I talked to who saw the coin said it was a nice 58, but clearly not Unc. Frankly, I think the high price paid was merely a reflection of growing market awareness and appreciation for the tougher VAMs in high grades (this example is tied for finest known at PCGS with only a couple of others), and the zeal with which some people are building Registry sets. Also, I believe this is the first time any AU58 Shifted Eagle has ever sold at public auction.

My question now is, what if any impact does this coin's price have on my AU55?