Note: The loop attached to this coin responds with medium strength to a magnet. It must therefore contain a ferromagnetic substance such as iron, cobalt or nickel. The rusty appearance suggests some iron content, but the magnetic effect is not strong enough for it to be pure iron. It might be half iron and half rust.

The lumps on each face of the loop look like the heads of a rivet, so a hole in the coin can be deduced. The off-side positioning of the loop, which is now corroded in place, suggests that at one time it swivelled freely.

A light-coloured core is visible on both sides of the loop, suggesting that the coin was once suspended on a silver wire.