HERE's one that I would DEFINITELY send to the coin doctor...

Can't really compare art to coins. The canvas can be repaired without harming the value of the piece if done by a professional restorer.

 

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That's just because art purchasers value restored pieces as highly as completely original ones, and coin collectors do not.

 

That's my point. Although this coin repaired would look better boosting the eye appeal and therefore probably the value a touch

 

A repaired coin will definitely look better, and definitely sell for higher than a holy coin.

It will still sell at a considerable discount to an original, unholed coin, of course.

 

junk to me would not have one in my collection

 

Well, neither would I -- but I won't be having any other $5K coins in my collection any time soon, either.

 

Nope. I'd get it professionally restored. Just like I'd do with this coin

 

True but I've sold problem free coins many times and made a profit. I can't say the same ever for problem coins, especially holed ones

 

Did you make those holes? If not, cool. But I guess it doesn't really matter

 

True but it can be done as long as it is not where you buy it. Granted with problem coins you lose a big part of the chance of cherry picking under coins since you need full level jumps or better, but for either it is really a combination of what you pay and timing

 

No I bought them pre-holed

 

A lot of times these were holed and nailed over doorways for good luck way back then.

 

When I look at a coin like this, I see someone wearing it around their neck through the Civil War. The hole is elongated, definitely a worn piece as opposed to one nailed over a door. They're a unique issue in that they were struck as Proofs yet intended for circulation and released as such. This one is one of the original 1000 struck, in coin alignment (600 more 1836's were struck in early 1837, in medal alignment and at .900 Fine as opposed to the .8924 Fine of this coin).

They were known rarities - in collector circles - from the day they were struck, and enjoyed such popularity among collectors that they were restruck during the late 1850's and again in 1867-68 to generate income for the Mint to expand its' own coin collection. These restrikes differ from the originals in that the eagle is shown flying level; all originals have the eagle flying upwards as shown on the PCGS coin here.

It was the original use of the Seated obverse which went on to be the standard in US coinage for the next six decades.

I don't see a holed, damaged, unworthy coin here. I see a family heirloom, worn for luck (and maybe as a hedge if the wearer was captured) which acquired all its' "circulation" around the neck of a Philadelphia soldier during the war. We'll never know the coin's actual history, but this is what I choose to see. In this case, the truth will always be what you imagine it to be.

I'd have already bought it if I had the money. It may - or it may not - be a few $hundred above "market," but there will never be more than one thousand like it and certainly far fewer than that survive. And the first thing I would do upon its' arrival would be to crack it, and hold history in my hand.

There is nothing not to love about this coin. It is probably the single rarest US issue which one could comfortably handle raw.

 

We musta been poor. All we had was a rusty horseshoe.

 

Your lucky I didn't even have that, but we did have a pot.

 

I wish there was a LOVE button for your post. I couldn't have put it better myself. While I would have had the hole plugged for visual appeal. I still really like this coin. I'd rather have this than one someone took a Brillo pad to and scoured away all its surface and character. Or dumped in ez-est and dipped blast white. This coin has a story and a history to tell just like the holy pine tree I posted earlier. Would I reject any of these for the right price. NO!!!!

 

Just to add to this, PCGS's survival estimates for this issue are: 500 in all grades, 125 in mint state, and 5 in MS65 or above. The first two are more or less guesses (albeit reasonable guesses), but the number of gem coins is certainly not.

 

I'm surprised it's that high, considering how many of them obviously circulated for a long time.

 

A lot were presentation pieces so were safely kept rather than put into circulation

 

For the PR 65 PCGS actually only has1 in the population report with none higher which is the medal alignment, the coin alignment top pop is 64. I think NGC has 1 66 but haven't checked their pops in a while