1923-P VAM-1AX

Description

Capturing the unmistakable effects of oxidation on a working die, the 1923-P VAM-1AX was discovered by Michael Ash in December 2006 and exhibits raised dots and splotches around the date and IBER (from LIBERTY) — the telltale signature of a rusted die. Designated 1AX II 1 with reverse die B2a (Rusted Obverse Die), rated I-2 for interest and R-5 for rarity (an estimated 1,001 to 3,000 surviving), this variety preserves a condition occurring when a die is exposed to moisture between production runs. Rust forms on the unprotected surface, and when the die returns to service the oxidized areas have become pitted — rough incuse spots that fill with metal during striking and transfer as raised dots onto every coin. The concentration of rust marks around the date and IBER suggests those areas were most exposed to moisture. Rusted die varieties offer a tangible connection to the industrial realities of early-twentieth-century minting, where climate-controlled storage was not yet standard. Struck at Philadelphia in 90% silver at 38.1mm. Inspect around the date and IBER for clusters of raised dots and splotches confirming die rust.

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