This strand presents with extensive damage. Some cracking and peeling is visible, but the most affected areas radiate broadly around the holes. Reverted calcite occupies the space between the nucleus and pearl nacre. Reversion is sped up by heat, sunlight or moisture... especially chemical.
Note the condition of the string vs the cracks. The cracks are dirty. The string isn't. There's space between the knots.
My guess, the string was dirty and owner thought bleach or peroxide might clean that up, only to find out they ruined the strand.
Good for restringing practice, perhaps. Maybe a mineral oil bath could breath life into some for re-purposing, but they've lost their gem quality, sorry to say.