1878-P VAM-123 Doubled R and UM, Stars & Eye, Engraved Wing Feather

Discovered December 1997 by Ron Derosier.

This coin is a Hit List 40 Morgan VAM.
This coin is a Top 30 1878 Variety

123 (revised 2007) II/I 40 - B2o (Doubled R & UM, Stars & Eye, Engraved Wing Feather) (194) I-5 R-7
Obverse II/I 40- Slightly doubled LIBERTY shifted left. Doubled top and bottom left side and bottom right serif missing from R in PLURIBUS. Doubled bottom edge of top left serif of U and M in UNUM. Strongly doubled seventh left star and doubled 1-3 right stars. Left 8 doubled at top inside of upper loop and bottom left outside of lower loop. Right 8 slightly doubled at bottom outside of lower loop. Slightly doubled right inside of ear. Spike below eyelid front. Long polishing line in top of Phrygian cap and multiple polishing lines to right of designer's initial, M, and in hair below cap lower rear.
Reverse B2o- Feather engraved with several vertical bars and fine lines on them between eagle's right wing and leg. Both wings over polished in middle with flat areas. Rough surfaces on parts of eagle and lower wreath.

Comments: One of the last 7 Tail Feather discoveries and considered by many to be ultra-rare. Trades for huge premiums in all grades, as is considered the Number One 7TF variety and the key coin for those attempting to build a complete set. In January 2007, an impaired XF coin was auctioned at VamQuest; the catalog description noted that possibly eight or nine are known to exist. In July, 2007 - a shocker - an NGC MS63 Deep Mirror Proof-like coin appeared unattributed in a Heritage auction, which was quickly bid up to record prices. The NGC coin has since been crossed to PCGS at MS63 DMPL.
The obverse has a strongly doubled R and hard-to-see doubling on the first U, the N, and the M of UNUM on the upper left serif. Additionally, there is a large spike under the eyelid, and the 7th left star (the one closest to E PLURIBUS) exhibits strong doubling with a small shaft of extra metal veering away. The quickest way to attribute this coin is to look at the R and 7th star. The reverse has an odd crack through the denticles above 'ES OF'. This specimen had proof-like surfaces, giving credence to the theory that only a few coins were produced.

No LVA Plate Photo:

Additional photos:
1878p_vam123_b.jpg1878_7TF_VAM_123_Eye.jpg1878p_vam123_a.jpg

78_v123_denticle_line_of_small.jpg
Note the scribe line or die scratch in the denticles above the second S in STATES and the O in OF.
This reverse die is only known to be paired with the VAM 123 obverse.
VAMSKYInbound_Obv.JPG
Notice the parallel arrow feather and full R on the reverse.
1878p_vam123_c.jpg

2 Full Coin Copyrighted© VAM-123 images below on loan to VAMworld uploaded by oldcollectorcoins - images courtesy of 4sdair
occ-4sd-1878-p-v123-5-17-14.jpg
occ-4sd-1878-p-v123-5-17-14a.jpg
Full Coin Copyrighted© VAM-123 Images on loan to VAMworld courtesy ©Heritage Auctions ATTRIBUTED BY Ron Hagler
1878_RonH_VAM-123_MS63DMPL_OBV_06102015.jpg
1878_RonH_VAM-123_MS63DMPL_REV_06102015.jpg
Full Coin Copyrighted© VAM-123 Images on loan to VAMworld courtesy ©Heritage Auctions ATTRIBUTED BY Ron Hagler
1878_RonH_VAM-123_OBV_12202012.jpg]
1878_RonH_VAM-123_REV_12202012.jpg

Full Coin Copyrighted© VAM-123 AU-55Images on loan to VAMworld courtesy ©Heritage Auctions ATTRIBUTED BY Mike Faraone at PCGS
1878_RonH_VAM-123_OBV_08172014.jpg
1878_RonH_VAM-123_REV_08172014.jpg





Price History:

ANACS XF45, $4,000 - May 2006
ANACS VF30, $1,500 - July 2006
ANACS VF20, $1,250 - July 2006 (now graded VF30 by PCGS)
Raw XF Impaired Obverse sold in VamQuest Auction #2, $956.25 - January 2007
NGC MS63 DPL, Heritage, July 17, 2007 - Unattributed, sold for $7,475. Resold in a PCGS MS63DMPL holder for $10,000 in a private sale.
ICG XF-40 Details-Damaged, Private sale, $1500 - September 2008

from the VAMview price archives:
1878 7TF 123 63 DM PCGS Nov-07 PP $10,000
1878 7TF 123 50 PCGS Jul-07 PP $5,000
1878 7TF 123 45 ANACS May-06 PP $4,000
1878 7TF 123 30 ANACS Jul-06 PP $1,500
1878 7TF 123 20 ANACS Jul-06 PP $1,250

Condition Census:


TPG
Variety
Designation
Total
1-3
4-6
8-10
12-15
20-35
40-45
50
53
55
58
60
61
62
63
64
65
66
67
68
69
70
ANACS
7 TF VAM-123 HITLIST40
MS
6
0
0
0
0
2
3
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
PCGS
7 TF VAM-123 HITLIST40
MS
17
0
0
0
2
4
7
2
0
2
0
0
0
0
1 DMPL
0
0
0
0
0
0
0
RAW
7 TF VAM-123 HITLIST40
MS
3
0
0
0
0

1 impaired
1
0
1 cleaned
0
0
0
0
0
0
0
0
0
0
0
0
NGC
7 TF VAM-123 HITLIST40
MS
1
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
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