SUMMARY: Holed ancient coins drew scholars’ attention from the seventeenth century onwards.
Pierced coins are found all over the Mediterranean and European territory. A large use is attested
in Merovingian Gaule and Early Medieval Europe. The goal of the paper is to study
holed Roman coins starting from pieces found in archaeological contexts in Milan and in Cisalpine
Italy (especially in Roman graves). A sample of 106 Roman perforated coins from recent
numismatic auctions is also considered. Coins were drilled in many different ways: the number,
size and setting of the hole/s can help to understand the use of perforated coins in Roman times.