Excavations at a farm, military, and tavern site in Vermont that
dated circa 1773 to 1835 yielded a coin similar to the one
described by Michael LaRonge.  The coin was a Spanish silver real
dated 1746 and minted in Mexico City during the reign of Philip V.
It had been pierced from the obverse face to the reverse by a small
hole.  The area around the exit side of the hole was well smoothed
by being rubbed, presumably with a soft material like fabric or
cordage.  Our assumption is that the coin served as an item of
personal adornment at some point during its use life.

--Chris Borstel and Rob Jacoby
Cultural Resources
The Louis Berger Group, Inc.
East Orange, NJ