What you have is massive Die Deterioration. As dies wear out over thousands of hits, the face of the die metal moves outward creating that ring. Sometimes the letters "stretch" all way to rin, like the E PLURIBUS UNUM on Wheat cents. No error, no value but face value.
Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited. Contact Us | Advertise Here | Privacy Policy / Terms of Use