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How bad is this Kizu / Fukure on a sword


Caracal

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The younger the blade, the more a given flaw will detract from its appeal and value (generally speaking). While the overall quality of the blade is paramount, a more renowned smith – even if it's not an old blade (e.g. Kotetsu) – offers more leeway for flaws. But even there, age plays a big role. Shinto and younger and the blade should be more or less flawless in my opinion, but it's really a personal preference.

Is the blade still interesting? That's in the eye of the beholder. 

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I think that there are two FUKURE, and they seem to be really big under the surface. That means, another polish will make them come to the surface, and that will not look nice. The value is indeed considerably reduced, and that does not depend a lot on the era or smith.

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