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Canada cent opinions


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KSP

Fri May 07 2010, 11:53am

Registered Member #172

Joined: Mon Jul 06 2009, 08:54am
Posts: 114

I got this Canadian Cent of 1858 in a $5 grab bag of UK coins. Obviously it's holed, but I'd lke other members opinion of condition and value. Krauss values an 'F' specimen at $60, without the hole, but how does the hole affect the value. What do you think?

[ Edited Fri May 07 2010, 12:16pm ]

Nicholas

Sat May 08 2010, 05:18pm

Deus Ex Machina

Registered Member #1

Joined: Sun Jul 01 2007, 10:10pm
City, State:: Ocala, Florida
Posts: 559

I'm not an expert on grading but as far as I know, when a coin has a hole in it, it grades poor.

Now what that does to the actual value though, I think that depends on the coin. In January, our coin of the month was a 1913 Liberty Nickel and there are only 5 of those. If somehow that 3 million dollar coin had a hole drilled through it, I'd still pay $100 for it(I'd bet it would still sell for many thousands). However, there's not many others I'd probably pay that much for unless they were gold with a melt value over $100.

I've seen dealers on eBay and elsewhere selling culled coin lots and those coins usually consist of heavily corroded coins, bent coins and coins with holes are frequently included in the mixes.

I'm curious to hear the opinions of others on this topic.

KSP

Sun May 09 2010, 07:13am

Registered Member #172

Joined: Mon Jul 06 2009, 08:54am
Posts: 114

Yeah, I'm no expert on grading either..but I know I'd rather have this holed Canadian cent than a whole one in poor grade. Holed 'older' coins are not uncommon as you probaly know, and I have wondered before I even obtained this coin how it affects value.

BCNumismatics

Thu Jun 03 2010, 12:57am

Registered Member #378

Joined: Mon Mar 22 2010, 07:19am
Posts: 260

A hole puts the value of the coin down to a tenth of what it would have been worth if the coin had not had a hole put into it.

The 1858 1 Cent is a key coin in the Canadian coin series anyway,considering that the 1858-59 coins are the only coins that were struck for the Province of Canada (1841-67),which consisted of Lower Canada (now Quebec) & Upper Canada (now Ontario).

I picked up a holed example of the Canadian 1858 10c. off a dealer for NZ$4 in May last year when I was at a fair up in Auckland.

Aidan.