As a side note, I noticed that the issue of legality was not mentioned. I found another website that indicates that Hobo Nickels are considered by the Treasury Department to be mutilated coins and thus no longer legal tender. However their numismatic value more than makes up for that.
I put in my text ‘they were no longer legal tender’ just assuming that was the case but actually took that out ‘cuz I read a lot of them remained in circulation.
One thing is if the coin was nickel, silver, or gold it was probably of similar meltdown value anyway- but artistic value of the nickel would have to exceed face value of a nickel, even back then- gotta be worth a buck, right?