"Holing" coins

Okay, so this is just a general information coin question, but I thought it would fit in this section.

Can somebody tell me for what purpose, exactly, coins are "holed", and why people seem to like doing that, or having coins that are holed? I always look at them and think someone's just spoiled a coin... but maybe there's a good reason to do it... ?

Most of the time it's because they've been used as jewellery.  I used to have one as a teenager, a British 1900 penny that had a hole. I used to wear it on a leather strap round my neck

See this site

http://www.etsy.com/listing/126662883/italy-coin-necklace-italian-jewelry-1919

Citeer: neilithicMost of the time it's because they've been used as jewellery.  I used to have one as a teenager, a British 1900 penny that had a hole. I used to wear it on a leather strap round my neck

That makes a lot of sense!! Now why would I not think of wearing money around my neck? Hmm... I wonder...  

So here's my next question. In terms of value, what does holing do to a coin? Does it remove a coin's value entirely, or what? If, for example, I holed a 2011 Canadian nickel and then tried to give it to a cashier as part of payment, would he/she even take it if they saw the hole? Would silver, gold, etc coins be worth any more than meltdown price if holed? Etc.

I'm sure cashiers would have no hesitation in taking a holed coin.  I used to find ones on the road that looked like they'd been run over with a lawnmower, didn't have any issue with spending it.  

As for numismatic value, we've had a few threads on the topic, the value decreases dramatically if the coin is holed.  Although apparently there is a market for rare coins with holes, I saw this article the other day

http://www.coinworld.com/articles/pricing-holed-plugged-coins

I've heard that when migrants came to New Zealand from the UK on ships, they wore their precious coins as necklaces so they wouldn't lose them during the long, perilous trip.  Have you heard anything about that, Neil?

No I hadn't heard that, it makes a lot of sense though, on a boat for several months with a bunch of strangers, the safest place to store your valuables would be on your person.  I have seen a lot of modern, low value coins holed though.  In those cases I assume it is something that has sentimental value for someone. You meet your wife in Italy in 1978 so you hole a 1978 Italian coin to wear round your neck.

It might also partially explain why we had a shortage of lower value coins in New Zealand, before the NZ coins were minted in 1933.  They had all the merchant tokens to make up for the lack of lower value coins.  If migrants were bringing over their valuable coins but not bothering with the lower values......

Citeer: neilithicI'm sure cashiers would have no hesitation in taking a holed coin.  I used to find ones on the road that looked like they'd been run over with a lawnmower, didn't have any issue with spending it.  

As for numismatic value, we've had a few threads on the topic, the value decreases dramatically if the coin is holed.  Although apparently there is a market for rare coins with holes, I saw this article the other day

http://www.coinworld.com/articles/pricing-holed-plugged-coins

in my experience a holed coin is worth what ever someone would be willing to pay for it. I have bought several holed coins a shows, and everyone prices them different. I bought an 1873 U.S. sheild back nickel in AU-55 for $0.50 because it had a hole in it, but I have seen the same type of coin in the same condition with holes in them being sold for around $20.00, so it al depends on the dealer.

Some cultures hole coins to make clothing or "shakers" for special occasions such as weddings. More rarely a coin may have been nailed to the mast of a ship for luck.

There was also the belly dancers outfits, they wore coins sewn into their costumes.

Coins on clothing or clothing of coins...

Not to mention some coins were holed in olden times to carry on necklaces or even just some string/rope for ease of carrying !
I had a Barbados slave pineapple penny which was holed. I would have thought it would have been worn by a freed slave or a close relative of one.

Hi

Noob here from the UK  

This is an interesting thread, as coins can be made in to jewellery, would the value of coins be damaged by bits being added on too??

I have a 1914 Nickel that's had a ring silver soldered on, it could probably be removed with a blowtorch but this would discolour the metal I would think...

It's not in very good condition but if it had been I wonder how value would be affected had it been a rare and valuable coin to start with??






Cheers, John  

Citeer: Mark240590Not to mention some coins were holed in olden times to carry on necklaces or even just some string/rope for ease of carrying !
I had a Barbados slave pineapple penny which was holed. I would have thought it would have been worn by a freed slave or a close relative of one.

Now this I think is really neat. So much history behind a coin like that. That would make it very valuable to me, personally, even if it was holed. :)

Citeer: neilithicThere was also the belly dancers outfits, they wore coins sewn into their costumes.

Ah, yes... I have a modern day "coin scarf", but the coins are not actual money. They were just made to put on the scarf such that it would jingle nicely. I took half a year of belly dancing lessons awhile back.

I would try belly dancing, but I've got too much belly and don't do enough dancing.

Found a discussion thread at the following site:

http://www.treasurenet.com/forums/coins/117286-why-holes-coins.html

I have heard stories that brides would wear coins on their clothing as 1) a sign of their father's wealth, and 2) as a dowry for the poor guy who was going to marry her!

Citeer: pnightingaleSome cultures hole coins to make clothing or "shakers" for special occasions such as weddings. More rarely a coin may have been nailed to the mast of a ship for luck.

Quite so.

In Morocco, for example, coins are often holed and threaded to make amulets (together with other artifacts, such as a hand of Fatima). A friend always wore one from his belt, until he gave it to me as a gift one day.

Just thought I'd mention it. :(

Matt

I read some where in a book a number of years ago the older coins were holed so they would be sewn into the hem of a garment to keep them safe during long travels.  I've since forgot which book the information was contained in.

In France at an aunts house I found 3 coins over the houses entrance which were attached with a nail 3 17th century French coins from Dombes (very worn). Back then I was allowed to keep one, still have it today. People were quite superstitious in the past so I guess it was for good luck or something like that. I also heard that as sometimes low denomination coins were very big, so people would hole them and carry them as belts, where you could just untie the knot to make your market shopping.