I had a couple questions about making the most out of scrap 6061 aluminum.

1. Lets say I need to cut a 3" hole in the aluminum with a 1/2" endmill. Would it be more practical to machine a circle so I am left with a cylinder of material dropping out or should I just shave the hole inside of the circle leaving it all as chips?

2. When getting rid of the chips, does coolant mixed in with them drop the value? What do people usually do when coolant is in the mix?