A method of manufacturing a compressed coil and a system for holding a wire during the manufacture of a compressed coil are disclosed. The method includes providing a wire including a first lead section, a central section and a second lead section. The central section of the wire is wound around a bobbin to form a coil. A punch top is located over an end of the bobbin such that the end of the bobbin is located at least partially within a through-hole of the punch top. A second lead section of the wire is located within a groove in an outer surface of the punch top or bobbin and pressure is applied to the bobbin and/or punch top to compress the coil.