Lots of people on the forum that would be 6 ft under today without modern chemistry So I guess it was true.
My first Gilbert chem set ( which I supplemented from the HS chem storage) came with some toxic stuff!!
So is that what's in those little wads of paper they call "poppers"? We used to throw them down onto the sidewalk and they'd pop.
So the, there is no absolute answer of yes or no. It is depends. And the EAC guys care about as much about having their coins slabbed as ancient collectors.
Actually the old shellac from the female Lac bug ( Kerria lacca) was easily removed ( alcohol ) and seldom caused any problems in use or removal. Has long history of protecting many very valuable stringed instruments. The # of bugs decreased over time , and polyurethanes were discovered. Since alcohol can damage or dissolve shellac finishes, synthetic ones are the current ones. They do not easily come off without excessive chemical intervention so they are not acceptable on coins where they made become permanently deposited. Personally if a coin seller could guarantee it was century old shellac, I wouldn't worry about removing . But as one who have ran into "lacquered" coins that are really polyurethane or epoxy, you must know the reputation of the person. Jim