Category Archives: Hobby

These posts promote the hobby of kings and provide the methods and means to advance coin collecting.

Check those Certs!

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PCGS, NGC, ANACS, CAC, ICGS have certification web sites. You’ll gain knowledge about everything from counterfeit detection to retail, wholesale and auction values.

New collectors and others who have inherited coins typically ask Facebook coin group members what their holdered coins are worth. There is no need to do this. In fact, the question alone indicates that you do not know what you have, opening you up to low-ball offers and scam buyers.

This Facebook member posts photos of PCGS-graded coins and wonders what they are worth.

All he had to do was go to the PCGS certification site for the information. Just input the numbers and you get all the facts.

Did you catch what happened here? If so, you are beginning to understand why checking certs of ANY slabbed coin is worthwhile.

His coin is counterfeit. The label is the giveaway: “Morgan.” The Chinese forgot that the only time PCGS states the dollar is a Morgan is on labels for 1921 coins because the Peace Dollar was introduced in that year!

The person’s coins are counterfeit.

Here is another person asking about worth for this NGC coin:

You can go to the NGC certification site and check this one.

NGC is not nearly as reliable with updating current value as PCGS. Note that this cert states “Price Guide Not Available.” NGC has been negligent with this for years, one of the reasons I prefer PCGS and CoinFacts. But you can still check the retail price by hitting the “Research this coin” tab.

Here are lookup sites for ANACS, CAC and ICG. Follow the same procedure.

If you want an estimate about what a coin dealer might pay you, you can access that information on the Greysheet wholesale website, requiring a subscription.

A better option to ascertain what a dealer might pay you, once again, is PCGS CoinFacts, an indispensable directory.

Let’s look up the retail and latest auction values (better than wholesale values because these states what people will pay) for that 1880-S MS64 Morgan mentioned earlier.

You get all the data for this coin, including mintages, which also play a role in value. But lower on the page you get population date and more specific details.

Better still, you can click the link for each auction. The first link, most recent sale 08/25, states someone paid a retail price in a Stacks Bowers auction. Why? Hit the link, and you get this superb coin, again with tons of data.

The ability to know retail and wholesale/auction values is a mandatory skill if you collect coins. Many just opt to go to a coin dealer who probably will use Greysheet wholesale and then deduct even more, especially if he owns a brick-and-mortar shop (he has to pay expenses, don’t you know).

Here is a typical advertisement promising to appraise coins and showing ones whose values are readily available online.

Wouldn’t it make sense, if this were your collection, to know what the retail and wholesale/auction values are before allowing someone else to tell you?

As you can see, checking certs guards against fakes and informs you in detail about your coin. Over time, you will learn not only the values but also all those data, helping you become the numismatist you were meant to be!

If you like posts like this, subscribe so you can be informed whenever there is a new article or column.

Proxiblog also has thousands of followers on Facebook Coin Groups, YouTube and social media. For the latest discussion and commentary, be sure to friend us by clicking here.

You can find more information about types, varieties, errors, grading, bidding and buying in Coin News Updated: The Essential Guide to Online Bidding. Please consider buying or gifting the work for a friend, as it underwrites this hobbyist blog. Thank you.

Trime Time

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By Susan Blumlein Amodeo

As a child coin collector, I was fascinated with the different shapes and images on foreign and domestic coins. As an adult, I love looking at my great grandfather’s coin collection. He built the collection while working as a bartender in Brooklyn, NY, at the turn of the century and later at a hotel on Long Island. People would pay for drinks with any currency they had, and my great grandfather, with a savvy eye, collected a vast number of US and foreign coins and medals, as Elis Island was bringing a multitude of immigrants to the area. His 1892 copy of George G. Evans book “History of the U.S. Mint and Coinage” and his 1909 copy of “Money and Stamp Manual” from the Money & Stamp Brokerage Company, Inc. are included in the collection.

Ellis Island

In the early 1970’s my father (who also collected) started sorting his grandfather’s vast coinage stored in a large leather pouch. He organized by country, identified and graded many coins, as well as putting many coins in flips. These coins are special, and I now have the honor of being the custodian to them.

Inheriting coins can be overwhelming but I feel fortunate to have some basic knowledge. Having books and reliable websites were helpful, but finding a coin group online was wonderful. I was introduced to Proxiblog by a friend and found it extremely helpful in and collecting.

While looking at the US coins in the collection, I was amazed to discover a tiny silver coin. This tiny coin was 3 cents, which happens to be my favorite number. While researching I learned this 3-cent piece (trime) had 3 varieties. I noticed that I had two of the three designs my father put in flips. Later, while looking through a cardboard box of untouched coins, I found a third trime of a different variety! I was so excited and went to my Red Book to note my finding.

Designer of the Trime:

James B. Longacre was commissioned by President Tyler to be the fourth Chief Engraver for the US Mint in 1844. He not only designed and engraved many notable coins, but he helped open the San Francisco Coin Mint in 1854. His designs include: The Liberty Head Gold Dollar; $20 Gold Coronet Headed Double Eagle; Small Indian Princess Gold Dollar; $3 Gold Princess Coin; Flying Eagle Cent; Indian Head Penny; 2 Cent Piece; the Trime; Three-cent Nickel; and the 5 Cent Shield Nickel. The Indian Head Penny is his most notable work.

The Trime

Many people do not know the smallest and lightest coin ever minted in the US from 1851-1873 is the trime (a colloquial name for the silver three-cent piece). In 1850 silver prices increased and people were hording silver and gold. Sound familiar? This was a turbulent time and many coin acts were passed. This was just after the peak California gold rush in 1849, which resulted in a population boom and economic growth. The trime was first minted in 1851 and was popular as Congress lowered the price of a postal stamp from five cents to three cents. This tiny coin was easy to carry and was minted for 22 years and included three varieties.

Variety 1:

The first trime minted between 1851-1857 contained 75% silver and 25% copper and weighed 0.8 grams. The amount of silver in this tiny 14.3mm coin was worth less then three cents in silver (2 ½ cents), which made it pointless to hoard. The first design was simple but unique. The obverse (front) features a six-pointed plain star with a federal shield inside. It is surrounded by the words “United States of America” and the date. The reverse has 13 equally spaced six-pointed stars representing the original thirteen colonies. These stars encircle a large decorative C-shape with Roman numeral III inside. Variety 1 had the highest mintage (36 million) from Philadelphia and (720,000) in New Orleans. New Orleans minted the trime for only one year, 1851, which are designated with an open “O” on the reverse right side.

Variety 2:

These coins were only minted from 1854-1858. To align with other coins, the mint adjusted its silver content to 90% silver and 10% copper lowering the weight to 0.75 grams. The design went through some changes. The obverse added double lines outlining the star. The reverse presented a more pronounced “C” and added an olive branch and arrows. The stars surrounding remained the same. However, many of these coins were weakly struck. The mintage was significantly less at 4 million.

Variety 3:

The mint again changed the design from 1859-1873. Although the design change was minor and only on the obverse, one border was removed from the star. Mintage dropped yearly and 1862 was the last year for 6-digit mintages. This coincides with the Civil War (1861-1865.) The decline in minting correlates with the introduction of the Three Cent Nickel coin in 1865. This was a more durable, easier to handle, larger coin. The trime was minted for circulation until 1872 (under 2 million minted). The Coinage Act of 1873 ended the production of several silver coins including the trime. In 1873 only 600 proof coins were minted.

Last Thoughts:

With such a small thin planchet, the trime minting quality was not great. Weak, off-center, die clashes, and strike-throughs (leaving an impression on the opposite side) were common. This, along with worn dies, resulted in mushy letters and numbers. Being such a small coin, many were lost, but today these are sought after by many collectors.

This coin survived the gold-rush and Civil War. In its 22 years of existence, the trime went through 3 designs and change of silver content. It may not be the most famous coin, but it has an interesting story, and I don’t want them to be forgotten.

Editor’s Note: Susan Blumlein Amodeo is one of Proxiblog’s top numismatists as anyone on Facebook coin groups knows. We hope she will continue to provide articles about the coins she loves and collects. As you can see from this article, she not only writes gracefully but also has a sense of history that only coin collecting can provide.

Proxiblog’s writers also include Jack D. Young and Jack Riley, counterfeit experts. They and Michael Bugeja provide fact-based information to thousands of viewers each day.

If you like posts like this, please subscribe to Proxiblog so you can get our weekly newsletter and be informed whenever there is a new article or column.

Proxiblog also has thousands of followers on Facebook, YouTube and social media. To get the latest discussion and commentary, be sure to friend us by clicking here.

You can find more information about errors and varieties as well as buying and bidding on coins in Coin News Updated: The Essential Guide to Online Bidding. Please consider purchasing the work for yourself or a friend, as it underwrites this hobbyist website. Thank you.

Melted, Bagged and VAM Morgans

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If you collect Morgan dollars, you will have to memorize all dates and rarities because unlike Wheat cents and other common denominations, low mintage may not be the sole factor of value. You will have to factor these irregularities:

  1. Dates and numbers melted. The 1918 Pittman Act authorized the melting of up to 350 million silver dollars to support American mining interests and to provide silver bullion to Great Britain, facing a monetary crisis during  World War I.
  2. Bags of Morgans released in last century. Millions of Morgans found in U.S. Treasury vaults in the 1960s and sold to the public at face value; dollar sales in the 1970s of leftover silver dollars, many of which bore “CC” mintmarks; and hundreds of thousands of “Redfield” hoards released to the market in 1976.
  3. Condition rarities. The reasons are many, but people neglected to save some uncirculated dates with high or reasonable mintages, meaning any found in low-mint state and above command ultra rarity prices.
  4. Different die varieties (catalogued as VAMs). This is an acronym for Van Allen and Mallis who cataloged varieties of U.S. Morgan and Peace dollars based on die markers distinguishing such features as doubling, die breaks, or clashed dies. If you are unfamiliar with VAMs, see Proxiblog’s “VAMs for Beginners.“

Silver Spot Price

Before we discuss the above Morgans, we should mention that the high price of silver in mid 2025 has increased values of all silver coins, especially silver dollars. At this writing, the spot price for silver is $90. You can expect that to fluctuate in the months and years ahead. (If you read this at a later date, that spot price will take on new meaning.)

So if you’re interested in silver melt value of your Morgan, do not think a cull has $90 of silver in it.

FORMULA FOR SILVER MELT PRICE: Morgans are 90% silver containing 0.7734 troy ounce. Multiply silver price by 0.7734: $69.60. Dealers usually pay 10% under melt. So that Morgan now is worth $62.

But there is another wrinkle. With the high price of silver, how many Morgan dollars are being melted?

Now the law gets murky. You can melt silver coins for personal use, such as making jewelry. Melting silver coins for profit is not permitted because you will be fraudulently defacing or destroying currency, which is illegal under U.S. law. (Melting cents and nickels is illegal because their metal content can exceed their face value.) But that doesn’t mean people aren’t melting their culls and even valuable silver coins.

To give you an example of what is occurring behind the scenes, silver refineries are not paying the spot price because of skyrocketing financing costs, massive backlogs, and disruptions in the supply chain, making it uneconomical for them to process and refine silver. Refiners are overwhelmed with high-volume scrap, leading to halts in purchases, lower offers, and a growing gap between the physical and “paper” market price. This has created a “liquidity crisis” and a “physical freeze” in the market. 

Now back to numismatics.

Melted Morgans

A handy resource about melted Morgans is Q. David Bowers’ “A Guide Book of Morgan Silver Dollars.” This comprehensive guide provides detailed information on the history, grading, and collecting of these coins. It covers every date and mintmark from 1878 to 1921 and includes melting estimates for each.  

You will have to read this work or consult other guides, such as PCGS CoinFacts, which provides survival estimates for each year and mintmark (presumably factoring in the number melted).

Common date Morgans produced before 1904 were affected by the Pittman Act, while key-date coins were largely spared; however, in doing this, the Mint made those common date coins more valuable, because so many were melted.

That’s why you cannot look only on mintages for value. You will have to memorize. This article will help in that endeavor.

Bagged Morgans

Bags of Morgans released to the public drastically changed the values of Carson City dollars and other dates previously considered condition rarities, with the most famous being the 1903-O. Before the 1970s, collectors rarely saw one and considered it an ultra rarity. The exact number of 1903-O Morgan dollars released in bags in the 1960s is unknown, but it was in the hundreds of thousands, possibly over a million. Same goes for Carson City GSA dollars. Rarely were these seen in high mint state; and then, more than 3 million uncirculated ones were sold to the public. So uncirculated Morgans flooded the market, again affecting value.

In other words, you may have a rarity only to learn another hoard has been found or released to the public. Then your rarity is not so much anymore.

Condition Rarities

Top condition rarities include these dates below with images and values from PCGS CoinFacts:

1884-S. Mintage: 3,200,000. People just spent them, so there are precious few in mint state. Value: XF40, $135; MS65: $295,000.

1886-O. Mintage: 10,710,000. Most coins were melted under the Pittman Act. Value: XF40, $100; MS65, $285,000.

1892-S. Mintage: 1,200,000. For some reason, as in the 1884-S, people did not save uncirculated examples and spent them. Value: XF40, $600; MS65, $285,000.

1893-O: mintage, 300,000; 1895-O: mintage, 450,000; and 1895-S, mintage, 400,000. Although they had low mintages, again, people spent them with most surviving coins being circulated. 1893-O: Value: XF40 $950; MS65, $180,000. 1895-O: XF40, $900; MS65 $325,000. 1895-S: XF40, $1,900; MS65, $22,500.

1896-O. Mintage: 4,900,000. Many of these coins were melted so that high-grade pieces are scarce. Value: XF40, $85; MS65, $200,000.

1901-P. Mintage: 6,962,000. A relatively small number of these coins entered circulation, and the majority are thought to have been melted. Higher-grade examples are difficult to find. Value: XF40, $250; MS65, $325,000.

VAM Morgans

These are some of the most desired Morgan VAMs with images and markers from PCGS CoinFacts.

1887-P “Alligator Eyes,” VAM12A.

1888-O “Scarface,” VAM 1B.

1888-O “Hot Lips,” VAM4.

1891-CC “Spitting Eagle,” VAM3

1901-P “Shifted Eagle,” VAM3.

While these have been labeled the most popular, you should know the top 100 VAM Morgans, compliments PCGS.

This article has discussed the factors that make some Morgans more valuable than others. If you continue to study each date and mintmark in the series, in time, you will be able to make prudent purchases and, on occasion, score big.

If you like posts like this, please subscribe so you can be informed whenever there is a new article or column.

Proxiblog also has thousands of followers on Facebook Coin Groups and social media. To get the latest discussion and commentaries, click here.

You can find more information about errors and varieties as well as buying and bidding on coins in Coin News Updated: The Essential Guide to Online Bidding. Please consider purchasing the work for yourself or a friend, as it underwrites this hobbyist website. Thank you.

Photoshopped OGH Morgans

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To this day, many Morgan Dollar collectors believe coins in Old Green PCGS holders were under-graded. PCGS in the 1980s was inconsistent in its grading. True, many coins were graded a point or even two points under where they would be today. But then almost as many were accurately graded according to current standards. However, because so many people believe OGH Morgans are under-graded, several eBay sellers have been photoshopping their OGH wares, especially since the older PCGS number doesn’t also result in a TrueView photo where flaws can be readily seen.

Even though we discovered these doctored examples, knowing how the process is done can help you with any coin, especially Morgans with its generous fields.

Using a tool on Photoshop, you can easily turn an MS64 coin into a supergem:

I did that with this coin:

While it is common knowledge that eBay sellers in particular often doctor their coins, removing flaws with photo-apps, Proxiblog calls attention to this practice with PCGS green holders. Book author Scott Travers, and others, have touted OGH coins as under-graded. If you believe that, you are also apt to believe the Photoshopped coin can be resubmitted for an upgrade.

Not.

One of our followers, Craig Frick, brought this practice to our attention with this doctored photo:

You have heard the phrase, “Buy the coin, not the holder.” That is especially true with Old Green Holders.

One final point. If you collect Morgan dollars, you must know how to grade. See this article for instructions. Otherwise you will likely be scammed at one time or another by unethical sellers as profiled here and elsewhere on Proxiblog.

If you like posts like this, subscribe so you can be informed whenever there is a new article or column.

Proxiblog also has thousands of followers on Facebook Coin Groups, YouTube and social media. To get the latest discussion and commentary, be sure to friend us by clicking here.

You can find more information about types, varieties, errors, grading, bidding and buying in Coin News Updated: The Essential Guide to Online Bidding. Please consider buying or gifting the work for a friend, as it underwrites this hobbyist blog. Thank you.

Numismatic Ethics: Yes, We Have Them. Do you?

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Let’s test your ethics: You go into a coin shop with a rare variety–say, a 1900-O/CC Morgan Dollar –but do not realize you have the overmintmark. You think it is just an almost uncirculated 1900-O. The price difference is significant at AU55: 1900-O, $65; 1900-O/CC, $450.

You don’t know that, either.

What should an ethical dealer do? If he belongs to the Professional Numismatists Guild, he must be truthful in “correctly grading and describing a coin’s condition, authenticity, and other material facts.” That means coin dealers should inform you about the overmintmark and pay wholesale price for the coin, roughly $385.

Now let’s switch roles. You are at a coin show and spot a dealer with a 1900-O Morgan selling for $75. Because you know varieties, you recognize this as a 1900-O/CC overmintmark. The dealer doesn’t. What should you do?

Give it some thought. We’ll revisit this scenario at the end of this article.

Let’s Talk Ethics

In addition to being a numismatist, I am a top ethicist with several books by Oxford University Press and other research publications.

I am concerned about the reputation of our hobby. We are coping with untold numbers of counterfeits, replicas, scams, social media hype, coin app hallucinations, microscope obsessions, and phishing expeditions, ruining the good name of coin collecting.

So I had an immediate negative reaction recently when I saw this post:

The author’s gloating about the price upset me as much as the “steal,” paying less than a dollar for a $40 coin. It prompted me to take a hard stance on his ethics, advising him to return it to the manager of Goodwill and let them know about the value.

He disagreed snarkily.

His feed erupted with others posting laughing emojis on my comment and most supporting the gloating buyer and denigrating Goodwill’s business practices. No one expressed concern about what he did.

I took a screenshot of the post, putting it on my feed. I was among friends here. But again, there was dissent.

To be sure, most agreed with me but some also criticized Goodwill, saying it deserves to be cheated. Some supported the gloating buyer because it was Goodwill’s responsibility–not his–to know what it had.

In ethics, this is known as “justification,” saying an action is okay–not because it is ethical–but because of distaste for the victim/loser (aka Goodwill).

So let’s eliminate Goodwill and restate the issue: What if the coin was in a Lutheran Church rummage sale?

Would you pay less than a buck for it … or tell the minister? If you yielded to temptation and took the coin, would you brag on Facebook that you effectively “stole” a $40 coin from a church?

This is known as situational ethics: it depends who the victim/loser is. Goodwill? Serves them right! Lutheran Church? Sure, but not Catholic. You get the idea.

Journalism embraces situational ethics. That’s not very encouraging. Some 36% of U.S. adults have no trust at all in the media with another 33% expressing “not very much” confidence.

So if you distrust the media and feel similarly, maybe you also should reconsider situational ethics. It’s never been very popular.

What about business ethics? Some remarked that Goodwill had the responsibility to know what it had. In other words, the seller should know the value of merchandise. If not, all bets are off.

Business ethics are about as popular as journalism ethics.

A significant portion of consumers actively consider and prioritize ethical practices in their purchasing decisions, with many willing to boycott brands that act unethically or pay more for products from ethically-minded companies.

Let’s talk about the Hobby

The topic here is “numismatic” ethics. There are three entities: buyer, seller, hobby.

Coin collecting doesn’t have a stellar reputation, either. First off, the industry is self-regulated. Those new to the hobby are particularly at risk of being taken advantage of by unscrupulous dealers who may rely on a buyer’s inexperience. Dealers must buy coins for less than they sell them to cover overhead. This prompts some to low-ball people, especially ones selling inherited collections.

Let’s Test Your Ethics

Remember the scenario mentioned at the beginning of this article? You know that a dealer has an 1900-O/CC rarity worth $450. But he hasn’t noticed the overmintmark and is selling the Morgan for $75.

Many will argue it is the dealer’s responsibility to know the value of their wares. After all, he is the seller and an expert. If he misses the overmintmark, fair game.

Not according to numismatic ethics.

You have three are choices:

  1. Keep silent and buy the coin for $75. This is not considered ethical by most collectors. It exploits the dealer’s lack of knowledge for a significant personal gain and damages the reputation of the hobby.
  2. Inform the dealer of the variety and offer a fair price. This is the most ethical approach. It builds trust within the numismatic community and demonstrates honesty.
  3. Inform the dealer, but walk away. True, the collector misses out on a “steal,” but they have acted with integrity and respected the dealer’s right to full information.

Note again that there are three parties here: The customer, the dealer and the hobby.

Even Numismatic Nancy knows that:

Numismatic ethics requires us to use coin knowledge to inform others, not to to take advantage of them, including dealers. Even in online and estate auctions, I not only identify counterfeits for the seller but also varieties that they might have missed.

We embrace ethics to uphold the integrity of the hobby community of which we all are a part.

The Carson City Morgan that Isn’t

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The Carson City mint closed in 1893, but 7 years later, the mintmark appeared on a Morgan dollar in New Orleans, making this variety one of the most popular in the series.

So how did the 1900-O/CC Morgan Dollar happen?

When the Carson City mint closed, its dies and other minting equipment were sent to Philadelphia Mint. To save funds, rather than make and ship new dies to New Orleans, a Mint employee was tasked with polishing the die, removing the CC and adding the O. As it turns out, he wasn’t a very good employee, failing to remove the CC before striking the “O” over it, resulting in the “O/CC” variety.

Hobbyists who collect all CC Morgans typically add the 1900-O/CC to their collection. It also is required for some set registries. And VAM enthusiasts (VAM catalogues Morgan varieties) especially like the overmintmark error, designating it with these distinctions: VAM-7, VAM-8, VAM-10, VAM-11, VAM-12 and more.

We’ll use VAM designations to show the difference in prominence of the overmintmark.

Hobbyists favor VAMs 10-12 because of the prominence of the overmintmark. All of these above varieties are on the Top 100 most desirable Morgan VAMs.

All 1900-O/CC varieties are valuable, typically more than $100 in any worn condition. At VF40, value rises to $300; AU55, $450; and MS63, $1400.

If you like posts like this, please subscribe so you can be informed whenever there is a new article or column.

Proxiblog also has thousands of followers on Facebook Coin Groups, YouTube and social media. To get the latest discussion and commentaries, click here.

You can find more information about errors and varieties as well as buying and bidding on coins in Coin News Updated: The Essential Guide to Online Bidding. Please consider purchasing the work for yourself or a friend, as it underwrites this hobbyist website. Thank you.

Beginner’s Guide to VAMs

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Morgan and Peace Dollars are among the most popular and widely collected U.S. coins. While many collectors appreciate these coins for their history and beauty, fewer take the time to explore the fascinating varieties of each series. These varieties, known as VAMs, are named after Leroy Van Allen and A. George Mallis, the researchers who carefully studied and cataloged them by their die marriage.

Learning VAMs can feel like stepping into a whole new dimension of collecting. It’s a field that rewards patience and curiosity, often taking years to master variety attribution. Thankfully, new collectors don’t have to start from scratch! Resources such as the VAMWorld website provide a wealth of information, guides, and images that make this specialized area more approachable.

VAMWorld allows users to “contribute, edit and improve” its listings, continually updated with new discoveries, delisted varieties, renumbered varieties, and other important revisions! It is the most up-to-date listing for Morgan and Peace Dollar varieties. While the site includes a dedicated tab for new collectors, this section is often overlooked. For those just beginning their journey of studying VAMs, I strongly recommend first to read the Definitions and Attribution 101 pages as it will be needed to understand various design changes, date placements, mintmark locations, die clashing and other characteristics of variety attribution and terminology.

At present, VAMs aside, the hobby focuses on errors and varieties with newcomers, in particular, hunting ultra rarities such as 1992/1992-D Close AM or 1982-D Small Date 3.1 grams. Those types of varieties for Morgan and Peace dollars are catalogued in VAMWorld. But we go one step deeper. We not only identify that variety but also the various dies that might have created it and the popularity of those varieties within a variety.

Let’s see how Proxiblog’s Michael Bugeja uses VAMs to show all the various types of 1900-O/CC Morgans. The popularity and value of this Morgan is not only the variety, but the prominence thereof. VAMs 7 through 12 identify the difference in prominence of the overmintmark.

I often stress to newer collectors the importance of learning and understanding the reverse hub types for the Morgan Dollar series. This chart represents all of the reverse hub types used for the series in detail. It mentions only 1878 but is for the entire Morgan series from 1878-1921.

Granted, the above chart might intimidate hobbyists new to VAMs. Let’s simplify everything and show how three different VAM reverses for the 1878 8TF, replete with pickup points:

Developing a strong grasp of these distinctions is invaluable not only for attribution but also for detecting counterfeit pieces, as reverse hub diagnostics can quickly reveal inconsistencies.

In my very first article for Proxiblog, I used VAMs to discover a family of counterfeits that fooled collectors and grading services for decades. I wrote, “The ‘Micro O’ varieties have always been scarce coins to come by, and in 2005, these were deemed counterfeit by PCGS when 3 examples showed repeating circulation marks between the 1896 O VAM-4, 1900 O VAM-5, and 1902 O VAM-3.”

Navigating the VAMWorld website can feel overwhelming for newer collectors, but becomes much easier when utilizing the tools and resources provided. Each date specific page includes a set of guides.

Many collectors focus on the Top 100, Hot 50, and Hit List 40 varieties. These showcase the most popular and valuable varieties, minimizing what is known as “micro-vamming,” or listing insignificant types.

Introducing the Top 100, VAMWorld writes, “Many of these VAMs have entered the mainstream collecting of Morgan dollars; it has become unheard of to claim a complete Morgan dollar collection without including the 1882-O/S, Scarface, Hot Lips, and an 1900-O over CC example among several other varieties.”

Proxiblog emphasizes this with articles on each of those above and more. For instance, click the photo below to go to these VAM varieties that are viewed, simply, as desirable and valuable Morgans:

If you like posts like this, subscribe so you can be informed whenever there is a new article or column.

Proxiblog also has hundreds of followers on Facebook Coin Groups. To get the latest discussion and commentary, be sure to friend us by clicking here.

You can find more information about types, varieties, errors, grading, bidding and buying in Coin News Updated: The Essential Guide to Online Bidding. Please consider buying or gifting the work for a friend, as it underwrites this hobbyist blog. Thank you.

Popular Morgan Dollar Varieties

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These varieties not only are popular and valuable but often required for complete set registries of top holdering companies: 1879-CC Capped Die, 1879-S Reverse of 1878, 1880/79-O, 1880/9-S, 1882-O/S Strong, 1882-O/S Weak, and 1887/6 and 1887/6-O.

This article provides key diagnostics so you can identify these valuable coins.

1879-CC Capped Die

The capped die variety happened when the Mint decided to change the small CC into the larger mintmark. An employee tried to tool away the smaller CC and replace it with the larger one. He didn’t do a very good job.

Hobbyists tend to prefer the clear mintmark to the distorted one. The process of effacing the die, or die cap, gave the variety its nickname. As for value, both are rare and desirable through almost uncirculated grades, with the clear mintmark bringing $4,500 in AU55, about $1,000 higher than the variety. But in uncirculated grades, the variety is more valuable, with an MS63 Capped CC commanding a retail price of $10,000 and the clear mintmark about $500 less.

1879-S Rev. of 78

While the 1879-S is a relatively common coin, the reverse of 78 is a rare and coveted variety with a mere 8,900 thought to have survived out of a mintage of 9,110,000. The production that year began with the 1878 reverse dies but were halted early in the process for the 79 variety. The 1878 reverse dies feature a flat-breasted eagle and parallel top arrow feathers whereas the regular reverse has a rounded breast and larger top feature at a slant.

The new “Reverse of 1879” dies were quickly put into production, making the Reverse of 1878 variety a notable and desirable key date for collectors.

As you might expect, the 78 reverse commands much higher values across conditions with an MS63 worth $1,600 while the regular mintmark coin goes for $100.

1880/79-O

The 1880/79-O Morgan dollar variety resulted from the New Orleans Mint reusing an older, dated die from 1879 by re-engraving it with the new 1880 date. The mint worker did not fully erase the older date, so faint traces of the “79” are visible beneath the “80.” (Note: The same happened at the San Francisco Mint with an even weaker trace of the overdate–so weak that we exclude it from this article.)

Both practices of repurposing older dies was a way to conserve resources. 

Here is the 1880/79-O overdate, compliments PCGS CoinFacts:

Because the remnant of the numbers 79 are usually faint, you may need a coin microscope to identify this variety. As for value, a regular 1880-O at MS63 retails for $90 whereas the 1880/79 goes for $800. That makes it very desirable.

1880/9-S

There are many VAM varieties (catalog of die markers) in 1880 Morgans, including 1880 VAM 6 8/7, 1880 VAM 7 8/7 Crossbar, 1880 VAM 8 8/7 Ears, 1880 VAM 9 8/7 Stem and 1880 VAM 11 Checkmark. We’ll leave those for another date. In this article we focus on the 1880/9-S because these are available and popular but may require a coin microscope to see on worn coins.

The 1880/9-S features the last digit of the date partially struck over the digit “9.” Here’s a PCGS CoinFacts photo showing remnants of the “9” in the overdate:

This variety is attractive because so many 1880-S Morgans were strongly struck and available in high mint state grades. The number of 1880/9-S Morgan dollars is not known out of a total 8,900,000.

An 1880-S at MS63 retails for $90 whereas the overdate goes for $160 at this writing.

1882-O/S Strong, 1882-O/S Weak

In 1882, the New Orleans Mint received a shipment of leftover reverse dies from the San Francisco Mint. A employee polished and overpunched an O on the S, creating the variety. The facility had three different reverse dies re-purposed for the New Orleans mint. Some overpunching was better than others, creating strong and weak versions.

The 1880-O had a modest mintage of 6,090,000. Many were melted in 1918 according to the Pittman Act and a mere 25,000 of the variety are said to have survived making them valuable. In MS63, a strong version retails for $550 and the weak version, $375. A regular 1880-O goes for $110 in that grade.

1887/6 and 1887/6-O

The 1887/6 and 1887/6-O varieties occurred because a U.S. Mint employee reused an existing 1886-dated die for striking 1887 Morgan dollars, but failed to completely erase the original “6” before engraving the new “7,” leaving a faint “6” under the “7.”

These usually are faint and may require a coin microscope to detect.

These overdates were melted in huge numbers according to the Pittman act. A regular 1887 at MS63 retails for $90 and an 1887-O, $275. An 1887/6 retails for $1,000 and an 1887/6-O for $2,400. That price difference is a reason for the popularity of these varieties.

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Sunken Dies Resemble Heat Damage

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Sunken die errors occur when a die’s surface deteriorates to such extent that it collapses, typically due to subpar planchets or hardening of those planchets, resulting in a recessed or “sunken” area on the die along with a raised portion of metal.

Let’s begin with showing how similar a sunken die is when compared with a heat damaged coin:

To tell the difference, look for that raised portion on the surface. Heat damaged coins have a bubble-like look from melting metal–a key distinction.

Also, die cracks often appear along the margin of a sunken die.

The opposite side of a sunken-die coin shows more of the design with tell-tale deformities depending on the severity of the die subsidence.

Let’s look at the reverse of the sunken die cent above:

The edge here is largely intact. Also, elements of the design are visible.

Heat damage can affect a coin’s service in several ways due high temperature. For instance, a coin melted in part in a house fire may look different from one exposed to a blow torch.

Look for discoloration of the metal ranging from rainbow patina to black or rust-like tone. The heat-damaged coin earlier has the tell-tale rainbow discoloration:

Also, check for edge damage appearing squeezed or distorted due to melting. Edges of sunken dies may have relatively damage-free appearance. If a clad coin, heat also can expose the different metals, often in patches.

In conclusion, here are key differences

  • Origin: Sunken die errors occur during the minting process due to a flawed die, while heat damage occurs after the coin has been minted due to environmental factors.
  • Nature of abnormality: Sunken die errors typically manifest as a raised area on the coin’s surface, exposing the sunken portion of the die. Heat damage can create a range of surface irregularities, discoloration, and deformation not associated with the die’s design.
  • Context: If a coin exhibits a raised area that seems to be a part of the original design, but appears distorted or indistinct, it might be a sunken die error. If the coin shows signs of burning, melting, or discoloration, it’s more likely to be heat damage. 

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GSA Dollars with Flaws

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If you have one, it may not be uncirculated or even authentic

Just because your GSA dollar is in its original US Mint holder doesn’t mean you have an uncirculated gem. Moreover, some are counterfeit and others so damaged that the government gave buyers a warning–see below–often missing when the coin is being sold online or in estate auctions:

The type of holder also indicates a potentially flawed Carson City dollar:

Here’s how the Mint categorized Carson City dollars in GSA holders:

  • Uncirculated Coins: Carson City silver dollars deemed to be in uncirculated condition were encapsulated in special hard plastic holders with “Carson City Uncirculated Silver Dollar” printed on them. These were accompanied by a numbered Certificate of Authenticity and presented in a black box with a velvet lining.
  • Other Condition Coins: Some coins showed wear or unsightly toning and were therefore not classified as uncirculated. These coins were also encapsulated in the hard plastic holders but without the “uncirculated” designation. They were still accompanied by a Certificate of Authenticity, however, these COAs were blank, rather than numbered. 

Proxiblog recently notified a member of Facebook’s Morgan Dollar Group about a problematic GSA dollar.

This was Proxiblog’s answer:

“The coin has issues on the cheek. You need to take photo of the holder. I think this coin came in a GSA holder that didn’t state ‘Uncirculated.’ I suspect it came in a holder like this below.

Here’s a closeup of the obverse, showing scuff marks:

Over the years GSA dollars have been manipulated by hobbyists. Sometimes sellers did it intentionally. Other times, they just didn’t know how to distinguish a flawed coin from an uncirculated one, based on the Mint’s paperwork and designations.

Here is a prime example.

The seller includes this COA:

Several problems here:

  • He is selling a 1884-CC with a certificate that begins with the numbers “83,” indicating that this COA came from an “Uncirculated” holder in an 1883-CC box. (See Proxiblog’s article, “Wrong GSA COA and Counterfeit Holders.”)
  • He isn’t showing or never received the U.S. Mint “Important” notice about the coin having flaws.
  • He is selling the flawed coin for near $600 when it should go no higher than $275 with these scuff marks on the key area of the cheek:

This is why you still need to know how to grade if buying a GSA Morgan. You can waste money on a coin like this paying MS65 prices.

Proxiblog contacted the seller:

The seller stated that he accidently switched the COAs with his other stock. And to his credit, he ended the sale.

The sale was ended because of grading knowledge. Otherwise someone else would have received this lot.

So if selling, viewing or showcasing a GSA dollar, especially on Facebook, be aware of the factors mentioned in this article.

  1. Check the holder for the word “Uncirculated.”
  2. Look for the GSA note (not a numbered COA) if the holder lacks the word “uncirculated,” noting the coin has flaws or unsightly toning.
  3. Remember that the first two numbers of the COA on an uncirculated GSA dollar should match the last two numbers of the coin’s date.

Finally, be aware of Chinese counterfeit GSA dollars housed in a smooth rather than textured holder:

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