A coin with a hole in it can have many uses. For instance, the coin could be strung through a necklace or hooked into a key ring. In fact, some coins can actually be made into rings. Whatever the reasoning for wanting to place a hole in a coin, doing so is quite simple.
Select what type of coin you would like to insert a hole into. Typically, the thinner the coin, the easier it is to make a hole. For instance, a penny is a lot thinner than a quarter or nickel and will be easier to create a hole.
Lay your coin down on a wooden surface, if you are using a hand drill. Hardwood typically works better than other woods, such as pine or cedar. Keep the coin in place by clamping it to the table. If you are using a drill press, secure the coin in the object holder.
Select what size drill bit you want to use. The bit you choose depends on how big you want the holes to be. For instance, a 1/16-inch bit will leave you with holes that are about the size of a pencil tip. The larger the bit size, the larger the hole will be.
Pull slightly on the trigger of your hand drill to create a slow drilling motion. If you are using a drill press, place it on a low setting --- about 500rpm.
Place the drill bit onto the coin with the drill on at a low speed. Press down until the bit comes out of the other side.
If you are using metal clamps to keep the coin in place, wrap masking tape around them to keep from scratching the coin. To get your coin clean, make a solution that consists of 2 tbsp of white vinegar and 1 tsp of salt. Pour the liquid inside a small bowl and swirl the salt around until it dissolves. Place the coins in the liquid and let them soak for about 10 minutes.