2008-S $1 Impaired Proof With Vertical Collar Cracks

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But to this extreme where each of them are all raised?

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Are the dies, and process, that much different?

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On proof Presidential dollar coins, the edge lettering is applied at the same time the coin is struck.

How It Works

• 3-Piece Expanding Collar: Unlike regular business-strike coins—which are lettered in a separate machine after striking—proof coins use a specialized three-piece segment collar that contains the lettering, date, mint mark, and mottos. (and that explains the Three bands on the edge inscription)
• Integrated Struck: When the obverse and reverse dies strike the blank planchet, the segments of the collar expand outward and impress the design directly onto the edge simultaneously.
• Uniform Orientation: Because the collar segments are locked in place during the strike, the edge lettering on proof coins maintains a consistent, uniform orientation relative to the faces of the coin (unlike circulation strikes, which enter a secondary edge-lettering machine randomly and result in Position A or Position B variations)