1921D Dollar VAM 1K2 M66: Keep or Return?

I bought a 1921D dollar in MS66 because I recognized it as being a VAM 1K2. I had the coin checked out by a rare coin dealer who agrees that the coin is in grade MS66 and the grade for the coin to me looks correct at least as far as the marks on the coin are concerned. The problem for me is the coin looks like it has been dipped and I feel that $1,740 might be a little too much for a coin that has been dipped although it is not horrible and it still looks like a nice coin. I have already told the seller I am returning the coin but now I am starting to have second thoughts about returning the coin. Just how rare is a VAM 1K2 in MS66? I rarely see them in mint condition on Ebay and it still might be worth keeping even if it has been dipped. Would anyone have any idea as to its rarity in mint condition? I think it might also hurt its value that it is not listed on either PCGS or NGC.

 

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From my experience, 99% of VAMs bring almost no premium. Except for a select few. For currently owned Morgans, I personally find hunting them down and researching the VAM lots of fun though.

Regarding a 21D in MS66, that price seems a awfully steep though. There are some stunningly stellar PCGS graded ones between $1100-$1200 on the bay.

 

With this discussion I decided to pull a 21 D out and check the VAM. That is a trip. There are so many and they look so much alike. I don't think VAM hunting is my thing.

 

I agree, the 1921s are NO fun. There are just too many with no interesting differences.

 

There are 10 examples in the SSDC registry in MS condition ranging from 61 to 64. This 66 would be the top pop if registered. This VAM is in the "Fun With 21" set that consists of 100 1921-D VAMs of which only 3 MS66 examples are listed as top pop so it is certainly not common but that does not make it a value added VAM. That would require a buyer that really wants it.

 

First, NGC and PCGS do not attribute all VAM's so it is not surprising that this particular one is not listed with them.

Two, one of the reasons that I stopped looking for Morgan VAM's is because there are more listed for 1921 than poop in a chicken coop.

 

There are precious few 1921-D VAMs that are worth a premium. They have to be dramatic, naked-eye varieties with really big die breaks to get the attention of anyone besides the few people trying to get every variety. VAM 1K2 is neat -- I actually discovered that one as VAM 1K in 1999 -- but not dramatic enough to warrant a $1000 premium in MS66.