1938 Penny Massive Flaw

Agree with Sap about the way that a thickish liquid would react flowing into a series of beads. Also, not a lot is mentioned about the blob and lumps on the reverse side. I can't see any record of those errors in the literature, though that by itself doesn't rule them out. Just to me they look like some droplets of the same stuff.

Having said that I'd love to be proven wrong 'cause it would be a heck of an error!

Lastly, took the coin to a local dealer and confirmed what I have said previously. " A wonderful find, " was the comment.
It just goes to show that on occasions, photos aren't enough. Seeing something in person is best .
The dealer suggested I take more photos and send them to the Coin Review magazine which may use it as a topic for the month.
Thanks to all for suggestions and help.

Lastly, took the coin to a local dealer and confirmed what I have said previously. " A wonderful find, " was the comment.

Can I just ask what "a wonderful find" is called? Like the name of error? Or did dealer just say "a wonderful find"?

Poacher, He said "lamination flaw/error".
If you were to see this properly, you would agree, and the only question would be "HOW did this happen?".
Once again, there is NO glue/resin on this coin PERIOD.

I understand there's no glue or anything but just look at one of my old threads I have a similar thing on coin with raised section on coin and the conclusion was its a stain. So now in my mind these things arnt laminations. Was hard for me to accept as well, you may have worked in engineering with metals but I have worked in smelting metals, making silver bullion, making calcium, copper and lead bars and I still don't understand how stains like this occur I never seen or heard of it before collecting coins.
All I know is if it is some sort of error then this site has too many people being trolls

http://goccf.com/t/450873

Thanks for the update. Quite an interesting looking coin.

I've been reluctant to add to my posts, but have discovered more about this coin, that might be of interest to some.
The reverse had what looked like die breaks in places, but under magnification, they're actually small laminations, but not from the coin itself.
It might be considered that what happened on the obverse, also happened on the reverse to a minor degree.
Refer to previously posted images.
I sent the images to renowned penny authority Fred Lever, who has allowed me to post his response.

Your assessment of the situation sounds plausible to me.

Something that grabbed my attention were the blobs on the reverse!
There is a lot going on in that coin.

Musing about the lamination.
I agree with you, going by the tool marks the entire obverse may have been covered with a "skin" of copper.
Now was it a part of the blank planchet or added?

A comparison of weights with other same year coins may suggest something.
I have split coins, and from that feel yours may have been a rolling lamination fault of the blank planchet.
The fault line may have been very close to the surface and just produced a thin split but partly adhered.
Someone then tried to pick it off.
Underneath will be a shallow but complete strike as the image compresses some depth into the coin.

Otherwise a struck coin being showered with debris?
If so it should be heavier than the average weight.

Cheers, Fred.

The standard weight for this coin is 9.45 grams (All Coins Value) and after weighing a number of circulated 1938 pennies, they ranged from 9.40 to 9.50 grams. Mine weighed in at a heavier 9.67 grams which accords with Fred's prediction.
Still, it's curious that the obverse was similarly affected, but minuscule by comparison.
For those interested I'll post magnified images later, as the photo optimiser doesn't like the ones I've taken.