I do not want to confuse the issue but I was told that the following, nearly flat piece, was between the dies at the same time that the above cupped piece was struck. Also, that the strike shattered the collar.
Actually, that clears it all up. The first round (second pic) was struck -- and it probably would have been fine but it didn't get out of the way. Along comes the second round (first pic) and the Eagle gets stamped, it picks up the reverse image from the first round, flattens the eagle on the first round and the extra width of the combined rounds shatter the collar.
If it was a coin, it would be a pretty good error. I don't know about the premium value for a messed up bullion round. While the mint seeks to produce coins to a certain standard, private companies produce silver rounds for profit. So it's easy to imagine how bullion errors could be made on purpose if there was any significant premium involved.
Interesting pieces. Do you have them both? They make an interesting set.
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