Strange nickel...please offer your opinions

A new member of my coin club brought in a very strange Jefferson nickel.

I didn't post this coin in the error section, because I'm not sure it's an error.

Take a look at these pictures. The obverse is not normal, but the reverse is downright weird.







My main area of concern is around 12 o'clock on the reverse. I cannot, for the life of me, figure out what is going on here.

I am 99% certain that whatever happened to this coin happened to a fully-struck nickel. The "E PLURIBUS UNUM" is half missing on the reverse, but in-hand, one can tell that the letters were once there, but were smashed down afterwards, as they appear ghost-like on the flattened-out part of the rim.

The really strange part is the raised letters that appear. They are raised, not incuse, and they appear to have been struck. I've examined this piece in-hand a number of times, and with my trusty 10x loupe, I'm nearly certain that they were struck this way. Part of the problem is that I cannot tell what the text says.

This coin is very bothersome to me. The raised letters are in a different size, different font, and given the scarce portions available, I cannot even tell what letters they are. I've looked at them at 90 degrees, 180 degrees, and every other which way you can imagine, but I can't make out what they're trying to spell.

I have very accurate electronic scales and calipers. Upon weighing the coin, it comes out to within a couple of hundredths of a gram of the correct weight. Given its odd shape, it also comes out within a couple of hundredths of a millimeter of the correct diameter. Both of these measurements are within tolerance, so I think it was struck on the proper planchet.

I would love to hear any ideas any of you have. I am absolutely stumped as to what has happened here.

 

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Perhaps a good luck ringed nickel? I think they stamp them into an aluminum or other soft metal ring. Keep me for luck or some such thing.

 

Post-mint damage, possibly some type of encasement.

 

It is from a lucky coin holder.
The words are from the back of the holder's imprint.

 

Wow great call Frank I was stomped,

Wow Frank great call I was stumped!

Only one question, did they shave, or somehow machine the coin prior to encasing or does the encasing do that to the coin - I find it hard to understand if the encasing does that much thinning of the edge? - or with what kind of devise do they use??

Ben "don't always know the answers" Peters

 

I spoke with him about this nickel when he first showed up at the club with it, and I couldn't figure it out either. I never considered encasement, and I think that's probably spot on. Good call!

 

The diameter was within 0.2 mm of proper diameter.

I thought about the encasement theory, but the letters on this nickel are raised, which would mean they'd have to be incuse on the encasement. I find that strange.

I might feel better about it if I could figure out what word the raised letters are trying to spell.

 

Also, now that I think about it, the shape of the flattening would have to mirror that of the case. This is a very thin, crescent-shaped flattening. I'm having a hard time picturing the shape of the container it would have been. I would think the flattening would go all the way around the edge.

 

I think I get how the encasement might work. If you're going to be at the show on Saturday we could talk then...?

 

If a person can turn a 1944 D Lincoln penny into a 1914 D penny, then I assume they could alter a nickel to look like an error coin. The coin may have been purposely altered in hopes of selling it to a error coin speculator.

 

Oh...I see what you're saying.

See, I was figuring people were talking about placing a coin into an already made case, and then tightening it down somehow. You're talking about placing it into a blank of some type, and then stamping it.

No, wait...that still doesn't work. If the coin is already inside, the case can't be struck from the inside. It has to be struck from the outside, which would dent it inward toward the coin, which would cause incuse letters on the nickel.

Am I understanding what you're saying?

 

Sorry...I don't plan to be there Saturday. I spent over four hours there today and covered everything I needed to see.

I did, however, make a small gamble on a 1795 half cent. It's pretty low-grade for my standards, but I thought enough detail was present that I wouldn't lose too much money on it. It was struck on what I think is a really neat split planchet.

If I do happen to go back to the show I'll bring it. If not, I'll bring it to the next club meeting.

 

okay, think about it this way:

Coin is inserted in a blank disc, with force into the hole.
Then the blank is stamped with the advertising, promo, what ever.
If the blank is not perfectly centered the dies from the stamper would imprint wherever they hit.

Kinda like a mint die, but, in this instance outside the mint, and the letters would be raised.

 

I still don't get it. No need for further explanation; I just can't visualize the raised letters being struck how you describe.

I suppose I just need to find an example of a coin still in the holder.

 

Maybe the encasement was the shape of a bell or a 4 leaf clover. That would explain the weird lettering and shape.

 

Maybe the word "WITH" is a match.

 

I can't see your picture, but thank you.