I personally don't like collecting hobo nickels, but they're definitely a very artsy modification to make to a coin; my favourite ones are the
monnaies satiriques made from French coins in the wake of Napoleon III's defeat and capture at Sedan in the Franco-Prussian War in 1870:
https://www.cgbfr.com/dix-centimes-napoleon-iii-tete-nue-satirique-1856-strasbourg-f-133-35-var-tb-,fmd_501766,a.html
https://www.ma-shops.com/cgb/item.php?id=148944&lang=fr
A little context:
When news reached Paris of the Emperor's capture and Sedan's capitulation, the Government of National Defence was set up as a provisional Republican regime the next day, when his wife fled Paris. The now-deposed emperor was ridiculed as France continued to be defeated in a war he had started, leading to satires like those depicting him in a Prussian pickelhaube.
Also, here's a little reading:
https://www.colleconline.com/fr/Artefact/Viewer/9283d25d-1e92-46a9-9191-0749bcb59570