Question on Morgan VAM?

moosesr

Could someone tell me the value of a 1878-P 3TF VAM 33 in NGC MS63? Is this coin also called the weak variety of 1878-P 7/8 TF?

Thanks,
Charlie

Spudmasher

Yes the VAM 33 is a 7/8TF WEAK. Should be worth $125.00 in todays market!

DennisH

In general, 7/8 weaks have tended to be priced all over the board. Some dealers have felt that because they aren't strongs (and aren't in the Grey Sheet) they should be priced at regular 1878 7TF levels. Other dealers have believed that a 7/8 is a 7/8 whether it's weak or strong, and have priced them all alike. I believe weaks belong somewhere in between.

VAM 33 is a very common coin that doesn't deserve a VAM premium, although the doubled legs on the eagle are neat! Spudmasher's $125 value is much closer to current 1878 7TF Grey Sheet price ($90 in MS63) than it is to 7/8 strong price ($285), and that seems reasonable in today's mostly unaware VAM world. Eventually, however, I think weaks should and will be priced closer to strongs.

moosesr

I don't have access to the PCGS pop report, but I looked at some of the registry sets and it seems like there are considerably more strong than weak 1878 7/8's certified. Maybe the weak variety will increase in value some day.