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But the necklace might be solid gold so that could be worth a good amount.
It's possible I suppose, but I doubt it based off those pictures. Look at the color of that necklace. It's not pure gold almost for sure and it would have to be a fairly soft alloy to be gold and be that color. They wouldn't make them like that unless it was an ear-ring.
Besides, nobody is going to put a low grade
IHC into an expensive necklace, even in contemporary times.
It's probably gold plated and just as cheap as the coin held within.
As far as the coin. A damaged low grade 1902 (which is very common)
IHC is probably worth .50 technically, but I don't think anyone would ever buy it individually.