Coins With Holes - Thoughts?

That's the sort of thing that's up to each person.
In my case I don't want a holed coin in my collection.
Nor do I generally want a DETAILS coin.
The exception to "no DETAILS coins" are Capped Bust Half Dimes for which I'm toying around with a die marriage set; 120+ varieties in only 9 years.

....and you haven't written the check yet?

It's a deliberate hole, not accidental damage. Therefore, for someone, somewhere, it was once something whose value exceeded anything monetary. For certain collectors, that's an irresistible draw.

Thanks for the thoughts so far. To clarify a little more, the hole is small and deliberate and in the field of the coin towards the top. The 40% equates roughly to $40.

I have a section in my collection with holed coins. I enjoy the fact that someone prized them, and the history of stringing coins or sewing coins into garments for safe keeping. That being said I do not pay much for them. My LCS holds them out for me - usually for little or no charge. To each their own, $40 bucks for a colonial sounds good to me!

with WheatBack for the most part.
Decision to add or not to add a damaged coin to one's collection depends mostly on the nature of the damage vs the likelihood of finding or being able to afford the same coin in undamaged condition.
There ought to be a subset of the familiar adage 'buy the coin, not the slab', i.e. 'buy the coin, not the hole'.
All holes in coins are deliberate. Some are clean and nicely placed to avoid significant features while others seem placed with the purpose to deface. These in my opinion are to be avoided, unless one has a fetish for culls or wishes to emulate nalaberong's 'holed copper board'. Minor or cleanly made perforations, however, can be very acceptable. But it's typically a matter of purely personal choice; of mental gymnastics; of evaluating the monetary aspects of such an acquisition in relation to the natural desire to fill an album hole, as well as the possible future negative resale value of a damaged piece. A forty percent discount is pretty motivational with a scarcer or higher value coin but insignificant with something such as a frequently-holed common date large cent. As for eventual resale, if the coin looks good enough to tempt one collector, it undoubtedly will appeal to others. So.. I'd say go for it, and do please show it here.

Here is the coin in question. Though not technically what some would call a colonial these did circulate in the early US as legal tender. I am working on assembling a good circulated type set of early reale coins. These are the sellers picks, just picked this up for $42.

Nice! IMO, the hole isn't a huge distraction.