The main details of the King's image are starting to wear flat. The hair detail is gone except for the the King's parting. All of the details on the reverse are intact, but show wear.
These coins were made from .500 fine silver. The blanks were blanched with acid, then rinsed. This had the effect of leaving a spongy silver enriched surface with some of the copper preferentially leached out. When the coin was struck, the silver had the effect of being enriched above .500 fine. As the coin wears, the poorer .500 fine silver alloy shows through from underneath. That is what has happened with the King's image in this case, and accounts for the discolouration on the high points of the King's image.
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