In "Wolf Hall," Hilary Mantel portrays the theme of human relationships and their complexities through the metaphor of a worn-out coin. The idea of relentless cheerfulness or camaraderie, though initially appealing, eventually reveals its true nature. This sentiment suggests that superficial friendliness can fade over time, leaving behind the less attractive reality underneath.

The quote emphasizes the transient nature of such bonhomie, hinting that it may be insincere or brittle. As the coin changes hands, it becomes tarnished, symbolizing the loss of authenticity in social masks. Ultimately, Mantel invites readers to reflect on the inherent flaws in human interaction and how appearances often mask deeper truths.