Well, if it is the impeller contacting the case, if the impeller is metal, it will wear away whatever part of the case is contacting it, and if plastic, it will wear the impeller away until there is sufficient clearance. The problem, however, is that the debris that was "machined away" will now be in the coolant (more an issue with the former scenario).
Drive it a bit, pull the belt and spin it by hand, and if free, you may consider changing the coolant just to ensure there are no metal bits floating around in there.
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Boxster S
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