Gold Coin with hole in it? Yes...I bought it.

I'd like to know what people think of old gold coins with holes in them. I know for the most part they can be basically worthless numismatically. In this case I don't think I went wrong. I picked up a 1874 Indian Head $1.00 U.S. Coin Type III with a small hole in it. Smaller hole than ive seen in most coins, roughly 1mm in diameter. I got it for $88.00 so like $17.00 over gold content (at $1475.00 as of the time of this posting) I see some with bigger holes bringing $100-$150 in some cases on Feebay. Since i've been on a gold bender lately, I took a chance what the ****.

Basically I am curious at what people think about holed coins.



Thanks for input... - Joe

 

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I don't mind the holey coin. I have a bunch of holed coins of various sorts. Somebody did it a long time ago for some reason, and I know it detracts from the value, but I think it adds to the history of the thing. Plus you can find a holey version of a coin you like a lot cheaper.

 

if you do not mind the whole then its ok. if anything you have some gold. but for a collection. no. you will never be happy with it. trying to sell it will be hard too. unless it is just sold for the gold weight. IMO. if I were you....I would have held out and saved more money for a gold coin without a hole. in the long run i ask myself will this coin be attractive to someone else. well i ask this on most my more expensive coins anyways. I think it's cool that you can afford gold. sure wish I could. other comes first for me I'm afraid.

 

It's not a bad looking gold coin. I'm sure you're aware that some collectors shriek at the thought of owning one but I don't. You paid a very fair price for it so if you like it that's all that matters. Nice coin, nice straight looking hole, I don't see a problem. :thumb:

 

I don't have a problem with holed coins generally Joe. I mainly collect counterstamps so it's fairly common to see them holed. People wore them as ID, personal charms, to advertise a political point of view, etc. Having said that, those with "ugly" holes do detract with a few exceptions that include very rare Civil War dog tags worn by some Union soldiers as body identification in case they were killed in battle. Most of these will show a distorted hole from rough use. These legitimate pieces are so rare, however, that it doesn't matter. I like your coin...nice neat piercing where it should be at the top of the coin.

Bruce

 

any one know why coins are holed i do

 

For anything over $100 I would have passed. The price is what got me to buy it to begin with. I know that as far as a collector goes it's no good. But if I had saved for the same coin without the hole, I would have had to pay over $200. I just bought this as a historical piece if anything with gold value attached to it. I paid $17.00 over gold value, I think $17 is cheap for a piece of history like it. At least that was my logic as it will always be worth the gold in it.

Thanks for the input

 

I like holed coins I even prefer them without holes

 

In days of old they put a hole in a coin and nail it over the front door for good luck....I think

 

They are my least favorite type of coin to own but I would never rule out owning one if the coin is rare and its the only way I could afford one.

 

Hole or no hole, I like the trade dollar at the bottom.

 

with a whole theres less gold so you cant realy go by spot

 

this is possible to

some coins have holes because people instead of carying them in there pockets and loseing them the were put on chains kinda like one of thoes huge old rings that held tons of keys soldiers especially

 

If I needed a "hole" filler, sure, why not.

 

That whole hole probably reduces the weight of the coin by less than 1%.

 

At that price probably would have bought it myself. Recently picked up a type 2 that was x jewelry and has a small solder spot but then I paid near the top of that range you mentioned.

 

A coin from ancient Rome with a hole