Ron Guth: The 1878-P VAM 79 is a Hot 50 VAM variety. This is a scarce variety that shows doubling on the most of the stars on the left side and some of the stars on the right side, on the word LIBERTY, and on the cotton bolls and leaves. What separates this variety from any other doubled obverse varieties are the following: extra metal in the bottom loops of the 8s of the date, Liberty's lower nostril is weak from over-lapping, and the far-left three-leaf cluster is separated from the rest of the leaves, also because of overlapping.
As of January 2012, PCGS has certified 34 examples of this VAM variety, almost all of which are Mint State. The typical grade is only MS-62 to MS-63, and the finest 1878 7TF R78 VAM 79 certified by PCGS is a single MS-64+. Prooflike examples are very rare, and Deep Mirror Prooflike examples are extremely rare.
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