A Holed Coin Type Set

[Recyclersteve]

On another thread on this fine forum I responded to this comment by thecrazyone...

What is the deal with holes in coins anyway? Bored people?

I figured that the subject deserved broader attention so I am reposting my response here:

In the mid-1800's or so, I've read and heard that people would wear a holed coin (usually dime, quarter or half) around their neck as a very small way of prepping. If they found that they had no money and were hungry, they could turn in what was around their neck for one last meal.

I'm working (very slowly I might add) on a holed type set, which is actually a pretty cool thing. I've seen a few of them before and they are quite beautiful. For my holed type coins, I want either a key date (for instance, I have a holed 1864 "L" on ribbon Indian Head cent in roughly XF that looks really nice) or a coin that is in nicer condition (say, XF or above). A sample of a nicer holed coin in the set is a beautiful Barber half in AU+++ condition from the 1890's that is an "S" mint. Pretty sure it is either and 1894-S or 1895-S.

I won't accept just any holed coin for my set. It has to have a hole that isn't a jagged mess or overly huge and I prefer it to be near the 12 o'clock position without having the hole go through the head of the person on the coin (if the head is fairly small- like on the seated Liberty coins). Also, you don't want to have the hole be in the position where the mint mark is- then you might not know where the coin was produced.

Holed coins can often be bought for big discounts versus the retail value of the same dates without holes. I would guess that, generally, you can buy a coin that would cost $100 for $10 to $40 if it is holed. Look at some of those that have sold on eBay and you will get a better feel for pricing.

These sets, when complete can easily be worth several thousand dollars, so you can imagine there are some pretty nice coins in there. One other thing, holed coins from the last 50 years or so are not very easy to find, but that doesn't mean that they are worth much either. So I wouldn't fall for that trap.

By the way, two coin dealers I know well are also both working on holed type sets.

[aloneibreak]

i hadnt considered a holed type set -- neat idea !

i do have a few hundred holed coins ive saved over the years -- mostly foreign stuff

it'd be nice to know the story behind the hole -- a science project, bored kid, lucky charm, or keepsake to a loved one

if only coins could talk

[agmoose]

This is a really neat idea. I haven't even begun a normal type set....but honestly the uniqueness of a holed set would lead me there before the normal one. I'm sure it'd take a LONG time to fill.

[Recyclersteve]

It does take a while, but you should be able to get 5-10 pieces pretty quickly on eBay (or elsewhere). And then you are hooked.

Another thing- if you are at a place like a pawn shop or flea market where the other party may not know that much about coins, you might be able to get a key date for a really cheap price. After all, it has a hole in it. They might think they will never be able to sell it.

[misteroman]

I have a bunch of holes coins you may be interested in. Best probably being an 1859 VF half. Many large cents, 3 cents, etc. Send me a PM if interested.
D