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John-
Harm? Probably not. HOWEVER. Coax cable has a finite life, often five years. Unless it is properly sealed, to keep moisture out, and properly suspended, to prevent stretch and sag, it will degrade and since most folks don't start with the best grade in the first place, you might want to hold off with the drill and replace the entire cable, now, to make sure you have a good cable. (And perhaps the antenna, too.)
If the cable has been sitting with an exposed end--it has been wicking moisture into the entire coax shield and along the center conductor, and the process of degradation has been ongoing since the PO cut it.
It might still work. Or, it might not work well enough on a distress call.
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