The coin is nail-bored, probably as a consequence of measures taken during the Great Recoinage of 1696. It is unfortunate that it was only coins in relatively good condition that were required to be pierced in this way; those that were clipped/worn were not allowed to be tendered. When hammered coins are found in this state (i.e. relatively good condition with crude holes through them), this is invariably the reason. They have not been converted to pendants as some argue, and thus they remain coins, not artefacts:
"Persons having unclipt hammered Monies before 10th Feb. 1695, to cause the same to be punched.; After 10th Feb. no unclipt hammered Monies to be current unless so punched.; Receiving, &c. such appearing to be clipt; Penalty; Quarter Sessions empowered to determine Offences.
And in regard such of the Coins of this Realme formerly made with the Hammer and not by the Mill and Presse and which doe att this time remain Whole and Unclipt will still bee most liable and subject to that pernicious Crime of Clipping or Rounding by wicked Persons who regard their owne unjust Lucre more then the Preservation of their native Countrey. For the better Prevention thereof bee it further enacted by the. Authority aforesaid That every Person having such unclipt hammered Moneys in his her or their Hands...doe before the Tenth Day of February One thousand six hundred ninety five or before they dispose of the same cause such unclipt Moneys to bee struck through about the Middle of every Piece with a solid Punch that shall make a Hole without diminishing the Silver And that after the said Tenth Day of February noe unclipt hammered Moneys (that is to say) such Pieces as have both Rings. or the greatest part of the Letters appearing thereon shall bee Current unlesse it be soe struck through And if any Piece struck through shall appeare afterwards to bee clipt noe Person shall tender or receive the same in Payment under the Penalty of. forfeiting as much as the clipt Moneys soe puncht through shall amount to in Tale to bee recovered to the Use of the Poor of the Parish where such Money shall bee soe tendred or received And His Majesties Justices of the Peace or the major part of them in the General Quarter Session upon Complaint to bee made to them of such Offence are hereby impowered to take Cognizance thereof and to determine the same and for that purpose to cause the Parties complained of to appear before them and in case of Conviction to issue their Warrant or Warrants to levy such Penalty upon the Goods and Chattells of the Offenders."