Why do so many old early 1800s Penny's have small holes and marked?

Many early 1800s pennies have small holes and markings due to their use as trade tokens or souvenirs. People often drilled holes to create jewelry or keychains, or to keep them as personal mementos. Additionally, coins were sometimes marked for identification or to denote ownership, as they circulated widely and were easily lost. These alterations reflect the coins' practical use in everyday life rather than their numismatic value.