Eastman Johnson's perforated design. These designs date to the 1870s. Additional information can be found in the June 1963 Numismatic Scrapbook magazine, per Pollock.
The holes appear to be handcut as they vary in size.
Examples were made as follows:
Nickel J1721/P1929 on both thin 29 grain and thick 45 grain planchets. About 2 dozen are known.
Aluminum J1722/P1930 with about a half dozen.
White Metal with rims around perforation J1723/P1931. This is unique and is ex Farouk, Rogers M. Fred-Bowers and Merena 11/95, Bowers and Merena 11/02 and is illustrated below.
Photo courtesy of Bowers and Merena.
A more finished design for holed cent appeared in 1885 as J1740/P1950.