Conder101 ...

Into the 1800's, I've seen holed, large cents that were nailed to a home or doorway for good luck. In later years, into the 20th century, a "penny" was often inserted into a new wallet for good luck. Could it be that these practices were thus a more positive spin-off of sorts on the use of these witch pennies?
I have a similar piece in my collection; also, a square-holed Connecticut cent. I'm unable to as yet post a pic as I'm away from home. The posting of such pieces will show that this superstitious phenomenon was other than random.