Things You'll Need
Clamp or vice
1/16-inch metal drill bit
Artists commonly punch a hole through a coin to create a pendant or bracelet. According to federal laws, it's illegal to deface or tamper with any United States or foreign currency used in the United States. If the coin will never be used as currency again, then no fraudulent charges will be pressed and the coin will become worthless. For this reason, do not punch a hole through valuable coins.
Place the coin in the center of a small block of scrap wood. Tape the coin to the wood block. Secure the coin and scrap wood between the jaws of a bench clamp or vice. Turn the handle on the vice until it becomes tight.
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Create a dot on the coin with a permanent marker. This dot will mark the punch hole. The dot should be placed at least 1/4 inch away from the edge of the coin.
Align the tip of the center punch to the permanent marker dot. Hit the end of the center punch with a hammer to create a small indentation in the coin. This indentation will guide the drill bit.
Attach the 1/16-inch metal drill bit to the hand-held drill. Place a dab of lubricating oil on the indentation created by the center punch. The lubrication will protect the drill bit from heat and friction.
Line the tip of the drill bit to the indentation on the coin. Use arm strength to apply downward pressure while holding down the power trigger. Continue to press into the drill until you have punched through the metal coin.
Remove the coin from the vice and take off the tape that attached the coin to the wood block. Flip the coin over and re-tape it to the block. Secure the coin and wood block in the vice once again. Apply a dab of lubricating oil to the hole.
Drill a hole on the other side of the coin through the same punch. The drill should easily go through the pre-punched hole and out the other side of the coin. The second punch will ensure that both sides of the coin possess the same size hole.
Always wear gloves and goggles when working with metal and tools. The coin can become hot when drilled. Insert a piece of lace, string or thin chain through the hole to create a pendant or bracelet.