1878-S $1 VAM 58 Long Arrow Shaft AU50 Certification #28004912, PCGS #133849
This popular variety is included among the Top 100 Morgan Dollar VAMs.
VAM 58 is one of nine "Long Nock" varieties identified among 1878-S Silver Dollars. "Long Nock" refers to the length of the arrowshaft as it extends out from the back of the arrow (a nock is the notch in the back of the arrow where the string of the bow is placed for launching). This is an easily identifiable variety not only because of the long arrow shaft, but also because of an obvious spike that protrudes from Liberty's eye (no other "Long Nock" 1878-S Dollar has this distinctive characteristic). On some examples a second spike protrudes from Liberty's eyelid, but this is not necessary for positive identification, nor can it be seen on all low-grade examples.
According to VAMWorld.com, the finest examples of this variety include two ANACS AU53's.