To study the particle size distribution and energy variation law of hard coal under a load, an impact compression test of hard coal specimens under different impact loading conditions was carried out using a Φ50 mm diameter Separate Hopkinson Press Bar (SHPB) test system. We implemented the theory of dynamic impact energy of rock to establish the calculation expression of hard coal impact crushing energy dissipation, and we established the Weibull distribution model of a crushing body to analyze the impact velocity in relation to the particle size distribution of hard coal crushing and crushing energy consumption. The results demonstrate that due to the different original states of the specimens, the damage to the specimens under static action is in the mode of conjugate plane shear damage, single bevel shear damage, and tensile damage. The damage process of the specimen under impact load loading is divided into three stages: elastic deformation, elastic–plastic deformation, and plastic softening, while the increase in the strain rate caused the peak stress of the specimen to increase. The Weibull distribution can characterize the impact crushing size distribution of hard coal specimens very well. The parameter of coal rock crushing degree is a power function that is influenced by the impact velocity; the greater the impact velocity, the higher the coal rock crushing degree, but the characteristic index of coal rock crushing fluctuates with the increase in impact velocity. As the impact velocity increases, the incident energy and reflected energy increase linearly, while the transmitted energy increases first and then decreases. The dissipation energy of coal rock crushing also increases linearly with the impact velocity. There is no obvious regular change between the energy dissipation rate of coal rock and impact velocity during impact damage, and the dissipated energy of macroscopic crushing only accounts for 10~20% of the incident energy; most of the energy is used for damping loss and damage loss.