I dont claim to know what the cause of this is. Nor do I understand why this can be considered an Error for Canadian coins and not US coins. I have been told that this effect is cause by the coin being brushed by a Wire Wheel mounted on an electric motor. Which can cause this effect to certain degree. I am not sold on the idea that all coins like yours are PMD. And I do Not know of anyone that has all the answers. http://coinsandcanada.com/coins-errors-varieties.php?error=rippled-coin&id=30.