Defaced 1818 U.S. coin - But for what purpose??

[Ripcon]

I picked up this holed 1818 U.S. Large Cent in a "what not" box at a Vicksburg, MS flea market some 38 years ago.
It has been defaced on the head of the coin. This damage appears to have been done during the time the coin was in circulation.
It seems to me I read some time ago that copper coins like this were purposely defaced for a reason but for the life of me I can't recall why.
Can someone help me with this mystery? Thanks for any assistance.

 

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[port ewen ace]

worn to hide from the wifeypoo

 

[Dozer D]

Maybe the hole for a key-ring lucky piece. How can you determine that the damage was done during its time of circulation.

 

[Ripcon]

Maybe the hole for a key-ring lucky piece. How can you determine that the damage was done during its time of circulation.

A guess, really.
I’m basing it solely on the continuity of the patina.