The interesting thing about this particular 1902 IHC find, more so than the fact that it was even still in circulation, is the fact that it had been meticulously "preserved" by a previous owner. As seen in the pictures, the obverse has been conserved, evidenced by the porous appearance. Turning it over we see that the coin still exhibits damage and does not appear to have the same chemical reaction as the obverse. This coin was obviously someone's "practice" coin for coin conservation.
One of the controversial topics in numismatics is coin conservation. There are extremists that believe any form of "cleaning" is "bad" or "wrong" to do to a coin regardless of the reason. Then you have those that will dip coins in whatever chemical they can get their hands on, use whatever abrasive they can think of, and do whatever comes to mind to make that coin look "purdy" and sellable to the unsuspecting.
Regardless, the fine art of properly conserving a coin can be very useful in instances where you may have verdigris or PVC damage on a minuscule portion of a coin. The coin itself may be, for the most part, undamaged and in rather high quality. But, leaving environmental damage on a coin will only compound the issue, and eventually, even if the coin is taken out of its damaging environment, the damage could most likely spread to other parts of the coin. Carelessness in conserving the coin could ruin the coin altogether.
The ability to conserve and correct damage on these minuscule parts of a coin takes much practice, and a lot of patience. Some believe it should only be performed by a "professional" versed in the varied techniques. Others are "do-it-yourselfers" who will give it a try no matter what the consequences.
It's just interesting to see a coin like this in circulation rather than eBay and get a bit of "history" from a coin at $0.01, no reserve, no shipping!
Obverse - Full Size
Reverse - Full Size
I think it's time that I enact the comic from my signature.