This is called Ridge Ring. The die is aging in a bad way.
Die Deterioration/Deformation Errors:
Severe Die Wear:
Design-Devouring Die Wear
http://www.error-ref.com/?s=ridge+ring
Die Deterioration/Deformation Errors:
Severe Die Wear:
Design-Devouring Die Wear
http://www.error-ref.com/?s=ridge+ring




















