Worth it's weight in silver, but not a dollar since it has no denomination stamped on it. Type I: Normal MS, Proof and SP versions. Type II: Reverse Proof. (PCGS)
Type 2, the blank that was punched out of the strip (Type 1) has now been run through the upsetting mill which has compressed the edge. reduced the diameter slightly and given it a somewhat raised thickened area around the circumference. It is now a planchet ready for striking.