I have a question for people who collect holed coins

ColonialCoinUnion · November 9, 2003 4:05AM

I met someone at the Bay State show who collects holed coins and showed me a few of them.

I don't collect such things, but I certainly think people should collect what ever they want and my initial thought was that it was kind of cool to think that you could, given enough time, find a whole matched holed set of, for example, NJ coppers.

The guy I met had built up a huge run of different varieties after something like 20 years of looking he and was justifiably proud of the accomplishment.

Afterward I was thinking that, given a hammer and a nail, and 20 minutes, I could build a complete collection of holed coins today.

So, the question is this: If you are missing a sought after variety, is it OK to buy one unholed and then 'enhance it' with a two penny nail at 12 o'clock on the obverse? And how can you be sure that who ever is offering such coins to you didn't do exactly that earlier this morning when you weren't looking?

Or does the 'vintage' of the hole matter?

billboat · November 9, 2003 4:15AM

The vintage--just as in wine--matters. Why impair an intact coin?--plus, the idea is that someone (who? why?) holed the coin in the past. Holing it yourself would be like applying AT to a coin.

Edited to add--I don't collect them but I have several--some with plugs, I also have a few with initials and counterstamps. Makes me wonder everytime I look at them.

1jester · November 9, 2003 5:01AM

I don't collect them, but I do have a couple. I guess it's interesting to think of the reasons why they were holed--was it sentimental reasons, for jewelry, to carry around on a string of coins (in some cultures, that's done), or perhaps used in a wedding ceremony? I guess it adds to the historical aspect of the coin, plus they usually are much cheaper to acquire.

berylcoin · November 9, 2003 5:12AM

Don't holed coins generally trade at a discount? What's the incentive for a seller to do this before selling a coin?

As for the collector, the aforementioned discount is usually a part of the reason for starting such a collection. That said, anything can happen when someone feels the need to finish a collection... or attach a coin to a vest.

BC

Barndog · October 11, 2006 10:04PM

holed coins seem to be a good topic for today

eyoung429 · October 11, 2006 10:49PM

It depends on the buyer.....it's easier to afford a scarce or rarity if it's holed....if it's an extreme (ie...poor LM) you can have it sent in to be conserved but you are wiping out a part of the coins past. I have several different dates and denominations that are holed that I could afford.

ColonialCoinUnion · October 11, 2006 10:53PM

I think I typed this original question when dinosaurs still roamed the earth.

Barndog · October 11, 2006 11:02PM

<< <i>I think I typed this original question when dinosaurs still roamed the earth. >>

Yet it is still valid today!

seemyauction · October 11, 2006 11:15PM

The "GOLDEN RULE" of collecting holed:

You can only a hole a coin that you pay face or less to obtain.

There was a post not long ago that displayed a type set with all holes.... It was realy neat and I bet a lot less expensive.....

I have a question for people who collect holed coins

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