Reaching here but maybe the obverse die was damaged with this strike? If a blank was covering the edge of the reverse and it was stamped it could have shattered?
If it were struck through a blank, the impression would be much deeper and the FIVE and UNITED wouldn’t be weak. The ellipse on the rev is related to whatever caused the damage on the obv. Possibly squeezed in a vice/press or hit with something. Also, if you look at the obv, you'll see that the damage has caused some Out of round along the rim, which couldn't happen if it was in the collar. As Fred said, it did not leave the mint like that.
Thanks again Sir - Does anyone know wich die is the hammer & wich is the anvil? Are the blanks polished and do have a raised rim?
@Tiberg...you resurrected a 12 year old post. Better to start a new one, you will reach more members for help...Spark
@Tlberg ...you don't understand...it's minor, but let me explain... It's a problem when people let too many things slide... It's a problem when people pass off the hard tasks onto someone else... For CoinTalk, it's a problem if we don't guide our new members to be armed with the info they need to be productive and successful. ...and so it goes if I don't acknowledge a new member's handle correctly, then it goes against my credo, my nature to be correct in all ways. If I do anything in this world, I want to pass on the desire to always do the right thing, to be accurate and to be true to myself and others. And THAT's why it is important to get your handle right and treat you like the forum member you deserve to be...Spark