Posted 11/30/2009 1:05 pm
It is a collar clash. The collar, aka "third die" is what applies the reeding to a coin. It is a metal plate between the hammer and anvil dies, the dies strike a coin and the planchet spreads until it is confined by the collar. A malfunction of the collar can cause it to clash with a die(in a similar manner to an obv and rev die clash) thus imparting the reeding design to the edge of a die. Not sure on value but I do believe that these are less common than regular die clashes(I do not have an example for my error collection yet
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