1885 Key Dateâ liberty Head Vâ 

Anything which is not attributable to normal Mint handling or normal circulation - damage, cleaning, etc. - detracts from the value of a coin. Matthew made his comment to advise you - if the coin is not yet purchased - to look for a problem-free example even if it costs much more (as it will) rather than this one. Yes, as a key date this coin will retain value with a hole better than a more-common issue, but it becomes much less liquid in the marketplace and should it come to liquidation will be difficult to move.

How much did you pay? It's still a great coin, and very appealing to anyone who wants a nice 1885 nickel with good details for cheap :)

I'm not so sure but I think for a few bucks someone could fill the hole in. You will still know it's there. But the good thing is, the hole will be filled in.

Assuming that it's genuine, I agree with Vermontensium on this coin's worth in the market.

Bear in mind, there are always folks who will pay more money, given their perceived value. A good example of this phenomenon is the $1 silver certificate. While these can be bought for under $2, each, in average, circulated condition, they often fetch three times that at auction; this, given the perception of the note having a "silver lining" so to speak. The 1885 nickel is the key to the set, and that's its' silver lining.

Fioti ... I, too, prefer the holed XF to one in this, poor condition, but a full rim good offers more appeal to me. Comparably poor 1885's can be acquired from dealers at major shows in the $175-$200 neighborhood. The reverse on these is barely, if at all, visible. An AG with partial reverse would be around $250; this, to my experience. Again, the 1885 is THE key, and the X-factor, or perceived value often comes into play, as it does with key coins in other series.

The OP's coin could be repaired, but it would cost more than a few bucks to have it professionally done.

I suspect that the below 1885 nickel is a candidate for the "holeyist" of holed 1885's. My poor photographic skills don't do it justice. Remnants of gold plating remain. Like the OP's coin, this "cut-out" 1885 served as a jewelry item of sorts.

to Jivkomk ...

I offer my views that despite whatever technical grade might be suggested by the coin's level of circulation wear ... likely AU based on what I can see ...

This is not a coin that I would have any interest in obtaining ... regardless of price.

Each of us has our own personal aesthetic ... and we apply that to our pursuit of this great hobby ... for me, a holed coin is worthless.

For others ... perhaps a treasure eagerly awaited.

To each their own ... it is what makes us strong as a community.

David

I look for rare V nickels in junk bins. All I found was 5 1913-P Type I Buffalo nickels and a Buff.Nick. Cud on reverse last Saturday for $1 for all (.20 per).

(sarcasm) Luck is not on my side