Let's say you have a 1850 large cent. It's scratched up real bad. So you list it on eBay and get 50 cents out of it. Many coin collectors did not buy it because the deep scratches ruined its numismatic value. However, to some, it's still a 162 year old piece of history. So it still yields historical value. Does anyone here collect old problem coins? I find that sometimes I can acquire them for next to nothing, and although they aren't worth much, it's still a piece of history in your hands.
I agree. I purchase G4 large cents because they are cool no matter what and can fill a hole in a collection while searching for something better.
Some people do collections of nothing but the worst condition coins they can find. A collection can be anything you want it to be. If you enjoy the old, used aspect of a coin and wonder where it's been and what stories it could tell, by all means, enjoy it.
I have never heard of anyone collecting purely for "historical value" but like others have said...some collectors actually seek out the most damaged coins they can find for a collection. I know someone here has a Dansco 7070 Type Set of holed coins for example. I would say every 150 year old coin has value...but the more beat up it is the less it is worth. Someone willing to pay more than a coin collector because of "historical value" simply doesn't know what the item is worth.
That's true, but what I mean is that if an old coin is beat up, it does not make it void of any value.
I really believe that any recognizable coin of that age...has some collector value. At least...US coinage. The problem is...someone might pay $20 for such a coin at an antique shop for it's "historical value" when it might only actually be worth $2. The truth is...that person simply didn't know what they were buying.
I have a few different 'collections', one of which is my history sets, these are specifically for the historical, versus investment, value. For these sets, I do NOT want MS or proof coins, but average or below average (depends on the year and coin) condition, precisely because it's interesting to imagine who held these coins in thier hands. Two I have, one I'm working on: 1932 - Depression Set - the setting, the people, the conditions were all ripe with history and lush with true stories that are legendary now 1942 - WW2 Darkest Days - movies thrive on 'apocalyptic' settings to create dramatic characters and stories - this really was. Next one 1840 - Huckleberry Finn set - a fictional book that captured a real America we can almost see, like a silhouette, but can never touch. So, yeah, I buy that stuff occasionally.
I guess the "historical value" depends on whether the scratches are a result of falling off a wagon and being run over by a wooden wagon wheel in 1847 or whether the scratches are a result of some guy accidentally dropping the coin down a flight of concrete stairs in 1997.
