Is this a capped die or could it be a major struck through grease? The rim is present so I do not think someone sanded off the reverse. Thanks folks.
It is not a capped die because it does not show the attributes of a die cap. Perhaps you mean struck through die cap, which seems like a more likely scenario. However, I am thinking more along the lines of an extreme struck-through grease, as struck through die caps show a kind of distortion of the image which I am not seeing. Hopefully others will chime in as well. Keep up the hunt!
There is no distortion. I am starting to lean toward PMD. The edge doesn't have any dents like someone hit it on something to give it a raised rim appearance, but the edge does seem to have a hardly noticeable curve to it.
The presence of the rim makes me think not PMD, but the lighting in the picture is throwing things off a little bit. Not sure.
My gut says PMD, but it could be some sort of strike-through error (likely through grease). I don't think it was struck through a die cap.