Hey Coop,
Thanks for taking a look and for creating the images! Yes, there are reeds on the outside of the coin just like you'd see on a normal coin. I hadn't considered a clad layer falling off post-strike as a potential explanation but it does match what we're looking at. So it sounds like both the clad falling off and the mechanical removal theories are both plausible explanations. Is there anyway to determine which is the more likely cause?
Let me know if there are any other images or information I can provide to help.
Thanks again!

