There are a few reasons for there to be a hole in a coin. It may have been purposely defaced. It may have been holed to be nailed on a wall or door to try and receive protection from the God or ruler that is shown on the coin. It may be used for decoration or a souvenir.

What does it mean when a coin is holed?

The reason being they were easier to string when the hole is square. Coins were cast poured in crude a method and when making the coins a square rod was placed in the center so they would not roll around and be an even size.

Can you spend a coin with a hole in it?

No, all coins are valued at their face value. However, certain coins may have special numismatic value. ... Can I melt, drill holes through, or mutilate U.S. coins? It is a violation of 18 U.S.C.