After seeing a recent post (http://cointalk.org/showthread.php?t=4488) in this forum. I had some questions about damaged coins. In particular coins with holes drilled in them. What kind of value does a coin with a hole in it retain? What is the highest grade a coin with a hole in it can receive? Has a damaged coin (hole through it) ever been worth more to a collector? What kind of punishments/fines/legal troubles can you receive for defacing a coin?
Hi Nate, That's a lot of questions. LOL Thought your post would be more appropriate in this forum. I left a redirect, so you would be able to find it. Good luck!
Here's a thread, we had some time ago. Not one of our "shining moments", but it might prove insightful. LINK (click here)
That depends - many collectors wouldn't pay 10 cents for a holed coin. Others however may pay a good bit depending on how badly they want it. My personal opinion - a holed coin holds no value above its bullion content. Strictly speaking - it can't be graded as the coin is damaged. ANACS however will provide what they call a net grade such as - Holed - XF Details. To me, this is meaningless as the coin is damaged. Worth more than what ? What it would bring if it was not holed ? I do know of a couple of collectors who search out holed coins. But they typically only pay a fraction of the value of an un-holed example. So I would have to say no. There are however certain coins that were minted with holes. But not in the sense that you mean here. There were also some coins that were minted with holes which were then plugged - by the mint. Both types sell for normal values. As long as you not trying to defraud someone by doing so - none.
Speaking as a dealer who sort of specializes in this type of stuff, yes, holed coins do have a distinct value and marketplace above bullion or monetary value, if they are scarce dates and/or are "higrade" in terms of detail, and would command substantial value if not also damaged. Even though many collectors and dealers want nothing to do with this stuff, enough of both do that there is a real marketplace. As a very rough guideline, scarce date holed coins are worth around 10% of the Wholesale Bid for that coin in Good, assuming date and mintmark, if applicable, are clear. If the coin has a lot of detail, it may make more sense to consider a (small) percentage of the wear grade in figuring value. Self promotion is not permitted Mark Corey
I was wondering if for example an historical person had made that holed coin to wear and they could prove it was the coin they "holed" and wore. Seems like that could increase the value.
I can’t add too much more to what has been said, but my general reactions are this: Unless it is a rare coin, it has no real collector value, as there are too many decent undamaged examples on the market. The only times I can think of a holed coin being more valuable are if it was turned into a dog tag, for example, as was done during the Civil War. In this case there would be counterstamps, etc., also, so that would not answer the question of a strictly holed coin, I guess. Also, sometimes coins were turned into gears. My guess is that a dateless or severely worn coin that was a made in to gear would have more value (not much) than an unholed example. Illegal?: no way. You can squish, bend, punch, and counterstamnp coins, so holing them is not a problem, unless you are intending to defraud (not sure how that could be done in this day of base metal coinage).
We need a little humour around here Collecting money with holes is something many of us do- Chinese etc Posting three funs sitres for Holey dollars. http://www.peterstrich.com.au/oz_coins/holey/holey.htm http://www.triton.vg/hdad.html http://www.macquarie.com.au/holey_dollar.htm Enjoy
A coin with a hole in it is not much good unless it is an extremely rare piece.For example,if someone had a Hogarth,Erichsen & Co. 3d. token from Sydney, N.S.W.,Australia with a hole in it,I would buy it,as it is a very rare piece.I would not buy a New Zealand 1940 1d. with a hole in it,as it is worthless with a hole in it.
I know I am years late on this however I have quite a different example. I have an NGC MS64 which has been re slabbed and regraded different times with the same grade. It is a german 1 kreuzer 1678. It has the Serial of 3477964-005. My coin site also has the pics of it showing the hole that formed as it was (pressed) created. http://computerdesignandrepair.com/spare change/spare change.aspx and http://computerdesignandrepair.com/spare change/2.JPG Very beautiful to me but was also wondering does it make it more wanted than a pristine one without the hole? NGC did confirm the grade was correct with the hole after the few times it was sent in.
Actually my website has been brought down 2/3/14 for a possible hosting company transfer so, just email me and I can provide an alternate address to see it. Peterfzammetti@yahoo.com
I have been looking for a pre-1800 Bust Dollar and can't find any even with a hole for under $500 unless they are totally chewed up and don't even display well.
I have coins but not sure if they are worth anything any ideas on the best way to get them all looked at to see if any might be worth anything?
Usually a coin with a hole will sell for a small fraction of what an undamaged example will sell for unless it is a love token. Many of these have holes because they were worn and their value is usually based on how ornate they are. The only damaged coin that doesn't get the un-gradable designation by TPGs I can think of are chop marks on trade dollars.
I am curious, does this coin look like it was used as a gear or a button? It was included as in a cull lot I paid between a buck or two a piece. It included a 1917 Walker which wasn't damaged.
