The Silver Coin is an item that appears both in Silent Hill 3 and Silent Hill: The Arcade. In both games, their appearance is identical, even down to the shield image on their face, but both serve unique functions for their respective games.
Silent Hill 3
The silver coin is an item that is briefly held. Heather Mason comes across the coin within the Otherworld Hilltop Center, inside of the One Stop Imports offices. It is on top of a money pile with many coins of the same kind.
The coin is used on the vending machine in the very same room. After inserting the coin, Heather receives a soda can; after shaking it, Heather notices the clanking noise of a small object trapped inside. The object turns out to be a key used to enter the Elberton Life Insurance offices on the first floor of the building.
Silent Hill: The Arcade
The silver coin will grant the player an additional 5,000 points if it is obtained. Like other items in game, the player must shoot it in order to obtain it. It also has a variant known as the Gold Coin.
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