| Author |
 Replies: 13 / Views: 1,642 |
|
|
New Member
United States
2 Posts |
Hey guys, first post and all...
So my buddy picked up 3000 wheat pennies at a gold and silver shop for $130 and I helped him sort through the lot. We found a 1914-D as well as a few other nice dates, but this coin has a small hole in it, like it was used for a necklace. Am I correct in assuming the coin is worthless, or could the date have some sort of weight in determining the vale?
|
|
|
|
Pillar of the Community
United States
2077 Posts |
The hole greatly reduces the value, but as it is a scare date, someone somewhere would be willing to overlook the hole. Definitely not junk.
|
|
Valued Member
United States
141 Posts |
 value is reduced because of the whole, but not worthless |
|
New Member
 United States
2 Posts |
Thanks guys! I've been looking around for an example of the exact date with the hole, but can't seem to find it. I have found others, but they don't seem to be selling
|
|
Pillar of the Community
United States
3276 Posts |
A lot of collectors would not want it, but for some people who can't afford the more expensive dates, I'm sure they'd buy a discounted holed coin. It won't fetch nearly close to full price, but it isn't worthless. Best thing to do in my opinion would be to throw it on ebay and let them bid. Whatever it sells for is what it's worth. |
|
Pillar of the Community
United States
1092 Posts |
....with what everyone is saying, the hole is a major problem to most collectors. But it's a key date so it's NOT worthless. Most common coins with holes are almost worthless. But I have purchased holed early 1800's coins from junk boxes at shows, because of the coins historical significance, scarcity or interest in the series.. But mostly I buy old holed coins because they are really cheap to buy. I would not pay anywhere near full value for a holed coin. At the end of the day it's only worth what someone is willing to pay for it. Edited by Harry213
09/15/2012 08:42 am
|
|
New Member
United States
28 Posts |
I've been tempted in the past to buy lots of old coins.
I think the 1914 Wheat with the hole is more novelty than collectors item. If the condition is good, and the wheat obverse is a unique design (kind of deco), put it on a brass or brushed gold chain and wear it.
|
|
Bedrock of the Community
 United States
12819 Posts |
So was your buddy happy with the $130 he spent? If my math is correct, that is roughly 4.3 cents per wheatie, which seems like a fairly decent price I suppose. If the most interesting piece you got out of the stash was a 1914-D with a hole in it (still a cool piece), do you feel like the batch was already searched for the good stuff?
|
|
Pillar of the Community
United States
8516 Posts |
It will sell on ebay, no doubt in my mind. I've been contemplating starting a holed IHC collection. They're everywhere and my guess is lots of people wore coin necklaces back in the day, lol. Oregon coin geek.....*** GO BEAVS ! ! ! ***
|
|
Pillar of the Community
United States
1227 Posts |
Raymo, I have a holed 1900 where the hole is very obviously contemporary to the coin (there is wear around the bore-hole consistent with the wear on the rim and detail). If I had my guess, those "coin necklaces" might have been emergency money (keep in mind that in 1900, a pound of rice was only seven cents)--when you were "down to your last penny," it was the one hanging around your neck.
I think the IHCs also became popular later as novelty necklaces because of their design--it's quite beautiful even when separated from its purpose--and my former boss said she and her brother used to pick them out of change on a semiregular basis back in the 1960s, so the supply of coins wasn't exactly short.
|
|
Pillar of the Community
United States
2150 Posts |
I have heard of a number of people working on holed type sets so I'm sure there are folks working on holed LWC sets. All it takes is a couple of these chaps to get into a bidding war and it could go for decent money. |
|
Pillar of the Community
United States
2295 Posts |
You will want to make sure your 1914 D is not a fake, since that is one of the most faked coins out there.
Check to make sure there is no VDB under the shoulder and check the mintmark and the spacing between the digits of the year. Make sure they look like they should on an authentic 1914 D, before sending it off for slabbing, if you do.
|
|
Pillar of the Community
United States
3229 Posts |
 I agree that it is better than worthless. I like holy coins:) Post a pic of the coin! |
|
Bedrock of the Community
United States
19944 Posts |
Welcome to CC!
Since the 14-D is a key date to the series there are a lot of fakes out there. Please post a picture of the coin so we can have a look.
|
| |
Replies: 13 / Views: 1,642 |
|
Posted 09/14/2012 11:53 pm
