A 1988 Morgan with a hole is the most valuable of all the Morgans! It is very rare and..... Oh wait, April Fools day was yesterday.. Sorry
If it's silver. It's hard to be certain from the photo, but if I saw that photo without the hole, my first reaction would be "fake". Look at the rim above E, and it looks kind of like all the design is sinking into the field...?
IF it is genuine, it's worth spot as bullion, a bit more for a ring-maker, and a bit more yet for jewelry. Or you could list it as an 1888-O.
I am left with a similar impression, but of course one single image isn't definitive. Could we see the reverse? Knowing which mint the coin is from is necessary to help.