Spanish Cob?!

[CRUSADER]

https://www.ebay.co.uk/itm/Unidenti...783316?hash=item5dc5572d54:g:HycAAOSwwUdgSkRn
Not one of my finds other than spotting it on ebay, but can anyone explain the weird shape of this coin?

 

[ARC]

Yep... Melted IMO.

 

[pepperj]

Looking at it I would say melted, but it's too drawn/stretched.
There's so much more as the hole, the shape as in the curvature, why so pointed?
It kind of reminds me if the head (holed end) was tacked down-it would become a retainer clip of sorts, where one could lift slightly and slid paper under it.
Or it was formed into a pendent of sorts.
I'm going with it being worked, repurposed for something

 

[ToddsPoint]

It looks like a tool made from a cob. Gary

 

[ANTIQUARIAN]

This definitely looks to have intentionally been melted and shaped.
I'm thinking is that it was likely found by someone many years ago and made into a pendant to be worn as a memento.

 

[paleomaxx]

Looks like someone started to roll it into a sheet. That was the first step for silversmiths; forming the silver into a sheet of the proper thickness and apparently it was a real pain to do. One of the reasons Paul Revere was such a successful silversmith is that he got a hold of a set of rollers from England that could be successively adjusted to be closer together after each pass which was much more efficient than hammer beating or whatever other method was available to American silversmiths at the time. The cob looks like a silversmith was experimenting (or just messing around) and stuck it into the rollers to start to flatten it.