Wow newdiggirl, that axe is beautiful! How large is the petoskey stone (it does look like a petoskey stone to me too)? Looks like a bead (if it's small) or maybe and anchor if it's large. Very nice finds.
The petosky stone is about the size of a 50 cent piece. I had one of the science teachers at school, who knows ALL about rocks, she said definately petosky stone. gbenny, do not think you are dense! I'm originally from Ohio, and if you aren't from Michigan it is very likely you don't know what a petosky stone is. Its a stone that was formed from the glaciers during the ice age. Its like a coral fossil. They are mostly found in Western Michigan, on Lake Michigan shores. If they aren't polished, it needs to be wet to see that its petosky stone. I find myself looking for them on every shoreline in Michigan. I found one in my landscaping rocks this summer, during a rain. Google it.
I think the Petosky stone may have been jewelry.
Thanks for your comments. I am just so proud of my first digging experience!
Awesome drilled petoskey and celt, those are killer finds! Get a chance to go back looking for more?
I find "Petoskey" Rugosa coral stones on occasion in the glaciated gravels in central Illinois, but have found 40 or 50 searching sorted landscaping gravels around businesses and institutions. Sometimes, when relatively smooth, a dip in a hydrochloric acid solution for just a few seconds will create a permanent appearance of being wet, without the artificial look of being polished. Wouldn't recommend it on that drilled piece though!