Posted 04/22/2009 4:36 pm
That is what is known as a "love token". Typically done in the 1800s on a small coin, the reverse(rarely the obverse) was removed and then highly stylized initials were engraved on the blank side. These coins were sometimes holed and looped so they could be put on a necklace. As the name love token implies, they were usually engraved with the initials of a loved one as a remembrance. Yes, it is considered to be a damaged coin but that does not completely devalue it to silver melt. They usually fetch $5-20 for a circulated dime depending on how fancy the engraving is and some people will pay more for one with their own initials.
