1857 Flying Eagle Mint Error?

I was thinking it was a lamination error. is that the same as a planchet defect?

I concur 100%. Interesting even if it doesn't add value to the coin.

Some people wouldn't pay anything for it. Others would pay normal price. And people like me, would pay extra. Most would pay normal price.

In my experience ... On one hand you have to keep in mind this is a genuine mint error on a really old cent. In actuality, the earliest mint error on a US small cent. Only a few people can afford or have the patience to collect off center cents from this era, which is essentially a life-long quest to get a whole year set of these significant errors. Even a 5 or 10% off center Flying Eagle can approach $400 in the lowest grade. So, people can have inexpensive error coin by collecting laminations. I personally see laminations as a defect, or more accurately, as an imperfection in the coin. I would personally prefer a coin to be problem-free and flawless than one with a lamination. However, these two things (on the one hand having a genuine mint error on a really old coin and having an imperfection on a coin) balance each other out so there is generally no net increase or decrease in value. HOWEVER, you will see these coins at shows with HUGE price tags - trying to sucker a newbie into buying a very rare mint error from 1857 (which is true, they are technically one of a kind). I saw a Struck Through Grease flying eagle that was lacking details so much that you couldn't make out a date with an asking price of $300. Dealer quickly stated I could have it for $150. I quickly replied that it wasn't worth more than a flying eagle in AG condition to me, and he knew it. Although it was slabbed by NGC as a genuine mint error (even though they couldn't give it a grade on the slab). The bottom line is that even though there is a low supply, there is an even lower demand for these types of coins. That lets someone be really picky and choosy about these kinds of errors - you can pick up some really neat ones for a very low premium. But you're also dealing with ebay, where a whole lot of clueless people drive up the price on a whole lot of nothing.

Just my Two Cents.

Here's the back as requested. There is a small section of corrosion of some sort. I'm not planing on selling it or anything like that, just was curious. Thanks for the info though, it's been really helpful.