Can you give a little more information. Are you using a coat rack in a closet or a tree style rack.
Donate it. Lots of people could use something like this and can't afford to buy it new. Unless, you have a specific purpose for it, there really is no point in keeping it. Yes?
It's a good thing to help others out and it tends to have a domino effect. Before you know it, others are helping others based on your example.
Plus....it keeps our living spaces free and clear of 'stuff' we don't need. I say pass it on.
If it's a wall coat rack it can be used to store things in other rooms like the craft room, workshop, garage etc
If it is a round revolving type. Make a chandelier with the top half and a table with the base!