RM,
You can’t stash the pin in it as it is very shallow since the latch is right behind the hole.
I speculated that it may have been used when assembling the lock, and Donna D opined that it may have been used to lubricate the lock, but that her later model
Scamp lock did not have the hole at all. However, we can let Glenn Baglo know what happens to the hole when the LockEZE is gone!
Jim