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How much does drilling a hole in a coin devalue it?

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Graham Healy

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Aug 17, 2001, 5:29:27 PM8/17/01
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Hello all
I have a George 111 threepenny piece in very good condition but
unfortunately a previous owner has drilled a small hole in it presumably for
use as hanging jewellery. How much does this action devalue coins?
Many thanks
Graham

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Kjetil Kvist

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Aug 17, 2001, 5:45:45 PM8/17/01
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That depends on the coin. Roman gold coins - aureii - tends to be worth
something even if they are holed. Roman silver coins - denari - tend to be
worth almost nothing if they are holed. The same applies to modern coins. I
beleive that your George III coin only have its silver content as value.

Kjetil Kvist, Norway


stuart sanders

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Aug 17, 2001, 6:48:14 PM8/17/01
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about as much as the hole detracts from the coin.
That pretty much means down to very little more than bullion value, I'm
afraid unless a very rare item
Stuart Sanders
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Mark Greene

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Aug 17, 2001, 10:05:55 PM8/17/01
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>From: "Graham Healy" Gravin...@btinternet.com

>Hello all
>I have a George 111 threepenny piece in very good condition but
>unfortunately a previous owner has drilled a small hole in it presumably for
>use as hanging jewellery. How much does this action devalue coins?

It depends on the coin. Look at this one:

http://cgi.ebay.com/aw-cgi/eBayISAPI.dll?ViewItem&item=1259827925

I got $10 less the good retail list for it, which is considerably more than the
$3 it's worth for the bullion value. But nowhere near the Fine value of $63.

---
Mark

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stuart sanders

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Aug 17, 2001, 10:30:44 PM8/17/01
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which I suppose proves an item is worth what someone will pay for it--though
I'd say you did VERY well all things considered Mark !
I still maintain holed coins are rarely worth much--at least British ones to
a British collector
Stuart Sanders
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Mark Greene

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Aug 17, 2001, 11:13:04 PM8/17/01
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>From: "stuart sanders" stu...@home.com

>which I suppose proves an item is worth what someone will pay for it--though
>I'd say you did VERY well all things considered Mark !

Thanks. For some collectors who have to "fill that hole" a cheaper holed coin
will do until they can afford/find what they want.

stuart sanders

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Aug 17, 2001, 11:42:26 PM8/17/01
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"Mark Greene" <prg...@aol.combustion> wrote in message
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Funny, I always thought filling the hole meant getting a coin of a type or
date you didn't have, I didn't realise the coin had to have a hole too!
;o)
(and we'll avoid a descent into pseudo-Freudian references I remember from
RCC a month or so back!!!!)
Stuart Sanders

Graham Healy

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Aug 18, 2001, 5:49:01 AM8/18/01
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Thanks for your replies. I guess it is not worth more than a Polo Mint then.
Cheers
Graham

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note.boy

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Aug 18, 2001, 6:51:39 AM8/18/01
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Counterfeit coins were often holed to prevent them circulating further, I would
consider buying a holed counterfeit coin but probably not a holed genuine coin.
Billy

lust...@gmail.com

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Sep 29, 2015, 2:45:34 AM9/29/15
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Im curious to know this as well. I have a 1867 konbebk "H/I" coin. Unfortunately it too has a hole drilled through its top turning it into a very old pin.it's old enough to be roman and Russian. Does anyone have any ideas?

michelep...@yahoo.com

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Apr 28, 2018, 12:28:23 PM4/28/18
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I am trying to post a question, not sure if I am in the right place. However, if anyone can help. I have a 1853 U.S. one dollar gold coin, in like AU55 condition. It has a hole drilled into it very cleanly at exactly the spot the mint mark would be. Any thoughts on value? Or where I could find an intested buyer? Thank you

Mike Dworetsky

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Mar 18, 2020, 5:30:53 AM3/18/20
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michelep...@yahoo.com wrote:

[snip]

>
> I am trying to post a question, not sure if I am in the right place.
> However, if anyone can help. I have a 1853 U.S. one dollar gold coin,
> in like AU55 condition. It has a hole drilled into it very cleanly at
> exactly the spot the mint mark would be. Any thoughts on value? Or
> where I could find an intested buyer? Thank you

Mutilated coins lose most of their collectible premium. What a shame
someone did this!

Without the hole, in AU55 it would have a "collectible" value of around $285
according to my older Yeoman's catalogue. Unfortunately, drilling a hole
through the mintmark (if any) probably reduces the value to the gold bullion
value, around $70-75 (prices for gold are fluctuating at the moment). There
were rare mintmarks that year which would be worth a lot more, but most of
the coins were not marked (hence Philadelphia mint).

The most likely buyer would be someone creating a cache of gold as a
personal hedge, or a bullion dealer.

Good luck with it.

--
Mike Dworetsky

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