definitely spooned, basing this on the lack of damage on the obverse and reverse. Spooning was very common in the '60's (admit I had done it a few times. Spoon down a quarter to a smaller size (preferably your ring size) then drill or cut out the center and viola! a silver ring!
I remember once when I was spooning a silver quarter with one of my Mom's silver spoons, every time I hit the coin with the spoon, the channel on the TV changed - you see at that time we had one of them 'new fangled' TV's it had a remote control with 4 buttons on it, when depressed it generated a high frequency sound that would change the channel or volume up or down. My guess the ring from the spooning was the same as the freq the tv needed. Boy did my folks get mad when the channel suddenly change at the wrong moment..
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