The Old Man Coin is a puzzle item found in the garbage chute outside of the Wood Side Apartments complex in Silent Hill 2. After placing some canned juice into the stuffed garbage chute, the trash will fall to the bottom. Among the garbage is a small silver coin. Next to the coin is a newspaper containing an article about the murders of Billy and Miriam Locane by the infamous Walter Sullivan.
The coin is one of three that must be used to solve the Coin Puzzle in Room 105 of the Blue Creek Apartments. The puzzle yields a house key when solved, which can be used to enter Room 209 on the second floor.