You're not looking at a VIN, you're looking at a combination of the TYPE code (with some specifics left out) and the serial number (which is not the same as chassis number). You can not be certain that old Volvo's showed up in the DMV records with that combination back in the 60's and early 70's.

Try looking for it as only "V722966", "2966", "V2966", "722966", or "72V2966" as well. If you don't succeed you can attempt to insert hyphens here and there in between.

My 122's were listed the above ways on their titles when I bought them. When I imported them to NC, I and the NC highway patrol agreed to write out the typecode, a dash, and the serial number, as a "new VIN".

Good luck!