I see a shadow of a circle around most of that hole and the orange paint near it appears to have a crescent shape.
Personally, I would put a plug in it, as that is a shopping mall door for mice to get under the seat and raise havoc. It may allow water to migrate in too, if you ever got caught in a good rain.
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Mitch
1970 Chevelle SS
1966 Chevelle SS
1967 Camaro ss/rs
1938 Business coupe, street rod
2000 FXSTS, original owner, 13k miles
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