I have no particular feelings about it either way, my first choice probability is that it was formed from a washer. If that is in fact the case, the washer was of non hardened steel.
We have only had the opportunity to view the images as you have now seen in the blog article.
Nancy have you read the latest CAB mag? Writing that article brought more of those errors and interestingly the washer $2 coin out of the woodwork. It's very interesting I like researching all these types of things but I hate it when I hit a brick wall and don't have a definite conclusion.
If you look at most washers, the outer edge is somewhat rounded on one side and sharp on the other. I presume it's because of how they're manufactured. Looking at this coin, you see the same thing, and it has the appearance of galvanized steel. The center hole is slightly out of round, which suggests it was made pre-strike.
I think it's almost certainly a washer. Awesome error.
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