@lordmarcovan should be able to tell us everything we want to know about that hole. What say you, Rob? Is it round? Symmetrical? Old? New? Used with a chain?
I agree with @Insider that it's B-9, often called the "Amateur Diecutter's Reverse". It's Die State 2 with the reverse die crack from O of OF to the rim. I think it's genuine but I'd like to see the edge. A pretty common coin with an estimated 300 to 500 known in all grades. The long scratches on the obverse might be adjustment marks but I can't make up my mind about them. It doesn't matter anyway since someone decided the coin would like nicer with a hole in it.
Sorry. Missed it for I was only 3. My parents also missed in 1969 because of the Woodstock musical festival.
There are over 30 varieties of this type of coin. The closest I can get is: Heraldic Eagle Reverse 4 vertices lines in the shield 10 arrows in eagles claw Pointed 9 in the date of 1798. The pointed 9 is a common variety.
Thanks to everyone for your input, Collecting Nut for the info on the coin and special thanks to Publius 2 and Insider for identifying the variety for me.