What is Cull?
This refers to a coin that has low numismatic value due to its condition. This designation is purely subjective based on the collector doing the evaluation and varies from circulated to uncirculated coins. Cull coins retain their bullion value.
A cull coin is essentially any coin containing flaws or is in poor condition. The term cull is used widely to include all coins that are flawed or contain defects. It is applicable regardless of the coin’s precious metal content, design, or mint year. Cull coins usually have a fair and poor rating on the Sheldon scale.
Some of the most common defects in cull coins include:
- Scratched coins
- Coins with holes
- Bent coins
- Corroded coins
- Discolored or oxidized coins
Cull variations have different implications for coins that are either circulated or uncirculated. Coin dealers will use a different standard when evaluating the value of these two categories. Coins that have been in circulation and fall into the cull category generally have more significant flaws. In some instances, these cull coins will have deep scratches, holes, and distorted designs associated with high use. While uncirculated cull coins have defects associated with minting errors such as tonal variation or design flaws.
While cull coins are undesirable for some collectors, some coin collectors with a limited budget consider them investment-worthy. For instance, circulated cull coins with high historic value can be bought at a lower price and still have high inherent value amongst collectors. Also, investors can purchase cull coins at lower premiums and still benefit from the value of the alloys used to mint the coins. The precious metals still retain their value in markets even when the coin is damaged. If an investor purchased a cull coin containing silver and gold, the coin would hold the value of the spot price for silver and gold.
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