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 Replies: 13 / Views: 826 |
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New Member
United States
11 Posts |
My Counselors, I have some "by the book" coins worth a pretty penny. Unfortunately, some savages poked holes into them. One is from 1700's I just want to rip the band aid off and tell me that they are worthless due to the post strike holes. Again , thank you collectively and respectively for all the continued support! r/s Earl  |
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Pillar of the Community
United States
2232 Posts |
The usual reason for holing a coin is to wear it as jewelry. It does affect the value if it's a collectable numismatic coin. You could do a search on ebay and see if any of the ones you have are holed to find out what they are selling for. Any collectable coin with scratches, dents, corrosion, cuts, holes, harsh cleaning etc. will be worth less. It's called post mint damage PMD. Very rare coins are still valuable even though holed with some reduced worth. Edited by livingwater
05/18/2024 2:19 pm
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Bedrock of the Community
United Kingdom
17932 Posts |
You'd definitely get a buyer in France for that 1958 50F. It's a scarce coin. For someone trying to complete the series by date it would be an ideal opportunity to fill a hole at a bargain price.
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Pillar of the Community
2223 Posts |
Nice little group of coins who deserve a page of their own in a collection.
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New Member
 United States
11 Posts |
Yes, the 50 Franc is flawless BESIDES A HOLE IN IT. Once again to school I have been taken.
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Pillar of the Community
 Canada
1764 Posts |
@earl49598  - The holes definitely decrease the value of the coins, but they still are worth collecting. |
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Moderator
 United States
15428 Posts |
to the CCF Take a look at my other hobby ... http://www.jk-dk.art |
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Moderator
United States
34409 Posts |
@earl, I agree that in general some of the numismatic value is lost with this, but do note that there are the occasional folks who focus on them. See for example, this link to a current auction of ancient and world coins all of which are holed: http://www.fsrcoin.com/holey.html"If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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New Member
United States
11 Posts |
Spence,
That is some dog gone good to know knowledge! Each one teach one, thanks again!
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Pillar of the Community
United States
6503 Posts |
I am of the opinion that I'd rather have 100% damage to 2% of a coin, instead of 60% wear to 100% of a coin. In theory, the hole will heavily affect value. I would propose that rather than selling a holed coin quickly for a bargain basement price, it's better to invest the long term effort to liquidate it slowly to the right buyer. For example, someone interested in analyzing die markers could extract much more value out of a holed coin that is otherwise in good condition.
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Valued Member
United States
136 Posts |
So for some series and specific coins a hole doesn't completely destroy the value especially coins where the holing has some historical reason.
A great example is the coins from the annam empire that were worn by locals and had 2 very small holes typically made.
These small holes DO reduce value but not by much and some collectors actually look for them.
Then there are also the super rare coins that are still worth a lot even when holed e.g. a holed 1875 1 yen that is in otherwise good shape might well trade close to the same coin that is chopmarked or harshly cleaned especially if the hole is entirely in the fields and not details.
There are some collectors who will essentially say a holed coin is worthless but have no problem with wiped or lightly cleaned coins. To me personally (just my opinion), I would certainly prefer a holed coin (fields only) to a harshly cleaned one, but the reality is that the first always seems harder to sell.
So for me from a collecting standpoint, holed coins are great, but from a long term value standpoint not so much unless it is something very unique e.g. an 1875 1 yen that would otherwise grade choice unc or above.
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Valued Member
United States
136 Posts |
Oh and earl, if its not already obvious I really like that eclectic collection of coins even though they are holed.
And I completely agree with Brandmeister, and thanks for that auction link Spence.
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Moderator
United States
95981 Posts |
I have a bunch of holed dimes from the 1800's that my Grandmother gave me..
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Pillar of the Community
United States
2955 Posts |
Very interesting topic and discussion  Usually I too am not the biggest fan of holed/damaged coins, except for a better coin I can't find anywhere due to rarity and my general need for that coin. Case in point, I am still looking for an 1823 large cent, but that is considered a key date coin, and I'd easily settle for a bargain price on a damaged specimen until a better example comes along. Same for my 1877 Indian cent that would grade a VG8 but has details, corrosion and doesn't look very attractive except for the key-date status.  |
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Replies: 13 / Views: 826 |
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Posted 05/18/2024 2:35 pm
