I'm trying to understand the story behind this coin. Has anyone ever heard of this Morgan and is it supposed to be a 'VAM'?
Probably 1887 VAM 12, also known as "Alligator Eye." It's simply a catchy, and memorable, name for this variety, which has strong doubling on the front of Liberty's eye, giving the appearance (if one uses one's imagination) of the third eyelid, or nictitating membrane, that an alligator has.
I've been looking at examples in VamWorld where the doubling of the eye is quiet apparent. Is there any other Doubling that would be on the coin and how much should I pay for a coin like this, if it is an 'alligator eye' ?
The 1887 VAM 12 is a rather common variety. You should be able to buy it for little to no premium. Here's a link to it on VAMWorld. http://www.vamworld.com/1887-P+VAM-12
Thank you for the information. I just thought of looking here to see what I could come up with. When you say little to no premium, are you saying a coin that is worth 30 to 50 dollars or would it be more depending on the quality of the Morgan ?
Pay what you would for a coin ignoring the variety. The value depends on the grade of the coin. They are available in high grade, so if you're looking for one, it shouldn't take long to find a nice MS65. If you don't want to cherrypick one and would like one already attributed in the holder, you might pay an extra 15% for a 65, simply to cover the cost of someone having the attribution added.
