Really cool 1923 Peace Dollar error

I'm not ready to rule out that possibility completely, because I've seen too few slag delaminations to have a feel for how they manifest. However, the OP's images leave little to be desired for quality, and in the absence of absolute certainty (always present with one set of images) it seems to me by far the greatest probability that this feature involved the creative use of wood.

 

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I believe you're right.