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VAM News: Ups and Downs for VAM Prices in July

As reported in VAMs and More: The View….

The so-called experts predict it is the fall before a major rebound in VAM prices.

The predictions came in articles in Coin World and on the CoinTalk websites.

vamview 275x185 VAM News: Ups and Downs for VAM Prices in JulyTime can only confirm that look into the crystal ball, but sales at the mid-July auction by Heritage were, overall, a kick in the mouth for collectors.

A couple of coins bucked the trend and set new price highs. They were an 1880-O VAM 4 in PCGS MS63 that sold for $1,175. It was the highest price ever recorded by VAM View for the VAM and the grade. The previous high was $558 and three other coins have sold for under $400 each. The VAM View Retail Price Guide sug- gests $650 for the MS63.

The second coin, an 1890-O VAM 10 in PCGS MS65, sold for $2,585, which was the highest price re- corded for this VAM in any grade by nearly $1,000. It was only the third recorded sale of an MS65.

Other sales in the auction created new low prices, with a couple of buyers filling holes very cheaply. Probably the greatest price pick was the 1921-S VAM 1B4B in an NGC EF45 holder that sold for $188. That coin is only the third example of the VAM recorded in any grade by VAM View. Two MS63 examples sold in October 2013 for $3,850 and $3,500.

Another coin—one that usually commands a lot of attention, 1879-CC VAM 3—just didn’t get a lot of respect in the Heritage auction. A NGC MS64PL sold for $8,519. It was the first recorded sale of a VAM 3 in PL, yet it sold for a price lower than 16 of the 21 non-PL MS64 sales recorded since 2009.

Heritage recorded the first sale of an 1878-P VAM 14.2 in PCGS MS65+. The coin, which sold for $1,410, was cheaper than the two previous straight MS65 coins recorded.

A 1896-O VAM 19 in PCGS AU-53 also produced a bargain for a lucky bidder. The coin sold for $200, the second lowest price ever recorded for the coin in any grade and the lowest AU price by $172.

At the same time as the Heritage auction, eBay was busy highlighting a couple of real bargains: A 1878-P VAM 224 in an ANACS AU58 holder sold for $43 in mid-July. It was the lowest price recorded for that coin in any grade. A 1878-P VAM 5 in PCGS MS62 sold on eBay at the same time for $365. That is the lowest price ever re- corded for that grade, and AU coins normally sell for more. The top MS62 price is $650 for an eBay exchange in May 2012.

But the strongest warning to come out of the auction and, a reinforcement of trend that was reported in the last issue of The VIEW, was the sale of two examples of the 1882 O/S. A PCGS MS64 VAM 3 1882-O/S sold for $1,293, compared to four previous examples that sold for more than $2,000 each.

The Greysheet shows the wholesale price for the coin to be $1,600. A PCGS MS64+ sold for $3,525, a record low price by more than $800. Four previous examples each sold for more than $4,400. The Greysheet touts an MS65 example at $50,000.

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