80/79-CC Rev 78

[jpcienkus]

I own a 1880/79-CC with a Reverse of a 1878 Morgan MS65 in a PCGS slab. This is a VAM 4. The label does not list the VAM, nor does it identify it as a GSA Hoard coin. Here is a picture from the Dino-Lite of the VAM.

 

In this year and mint mark, the NGC price guide does not list this coin and VAM unless it is specifically tied to GSA. The difference in value from a 80-CC with 78 Rev and a 80/79-CC with 78 Rev in MS65 is $2K. It is clearly a VAM4.

 

What is your advice to get the value from this coin? Would re-slabbing it in a NGC holder listing the VAM help?

[Max Spiegel]

Thanks for the question. NGC does not give opinions about a coin's value and all of the NGC US Coin Price Guide values are provided by an independent company, NumisMedia. You may wish to consult a trusted local dealer. Visit the NGC Dealer Locator to find a dealer near you.

[jpcienkus]

I understand your position regarding coin values. It's a slippery slope.

 

Let me re-phrase my question. If I sent this into NGC to be re-holdered, would they add the GSA Hoard and VAM designation to the label?

[Max Spiegel]

You would have to submit the coin for Crossover/VarietyPlus. If the coin is crossed over from PCGS to NGC, then we would attribute it VAM-4. We would not, however, use the GSA Hoard pedigree because we reserve it for coins in the original GSA black holders.

[Mr Bo Jingles]

Hey Max: Per our conversation today, could you confirm that VAM4's exist outside of the GSA Hoard? The NGC priceguide does not have a listing for the VAM4 outside of the GSA Hoard. One can easily assume since there is no listing for the VAM4 outside of the Hoard offerings, this coin must have come from a cracked holder. Its provenance would be easy to confirm.

 

Just a thought....

[Max Spiegel]

According to the NGC Census we have graded 273 1880/79-CC Reverse of 1878 VAM-4 coins that were not in GSA holders. (By contrast, we've graded 406 with the GSA Hoard pedigree and 6 more that were in GSA soft packs.)

[Mr Bo Jingles]

Hey Max-

 

First, thank you for updating the registry points so quickly. That is SUPER SERVICE!

 

Second, thank you for pointing out the non-GSA holder graded VAM4's. Do you have any info one way or another that would tell of the VAM4's were ever released with the rest of the business strikes or would all of the non-GSA Holder VAM4's you've graded come from coins cracked out of the GSA holder?

[jpcienkus]

So based on your latest response to Mr. Bo Jingles, will you be listing a separate line item for the 1880/79-CC Reverse of 1878 VAM-4 in your pricing list? If yes, will there also be census information for grade?

[Max Spiegel]

Glad we could help. Unfortunately I don't have any data on the percentage of VAM-4s that might have come from GSA holders. We started grading Morgan dollars in GSA holders in 2003 so it's possible that some were cracked out prior to that date.

 

jpcienkus -- The VAM-4 currently appears in the NGC Census. You will have to click on the blue arrow to the left of the date to see the expanded view. The NGC US Coin Price Guide values come from NumisMedia so it would be their decision. If they can find enough recent transactions to post accurate values then they will add it.