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That is a large delamination, the bottom curl of the peel is still attached and you can see another peel forming at the right wheat ear. It is caused by a weakness in the alloy which leads to a poor internal bond.
That bottom area is sitting well-up from the surface. If it's a part of the delamination that didn't peel off how do you explain why it didn't take any impression from the stalk? That bottom area was depressed when the coin was struck, that's why the stalk didn't "take" on it. It was a "negative" impression on the planchet struck by a "negative" impression on the die. Note, too, how the bottom of it is rather uniformly "ribbed," as opposed to "smooth." That's kind of odd, as well. That is a large delamination, the bottom curl of the peel is still attached and you can see another peel forming at the right wheat ear. It is caused by a weakness in the alloy which leads to a poor internal bond.
I don't know. Just throwing this whole error off on a delamination doesn't seem like quite the whole story, here.


















