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What's wrong with this coin??

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According to "The Official Price Guide to Mint Errors" on page 185:

 

III-B-8 Struck on a Bubbled Plating Planchet (IWE)

A strike on a bubbled plating planchet is defined as: A coin struck on a plated planchet or one punched from plated coin metal strip, which exhibits bubbles or raised areas of the plating where gases were trapped during the plating process, showing on the struck coin as bubbles or small areas of raised and rounded metal.

 

Bubbles are also caused by dirt on the planchet. In either case, they are too common to have any value.

 

Chris

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Ever since the mint began striking Lincoln cents on copper-plated zinc planchets, they have had a problem with gases getting trapped under the plating. The tiny bubbles are caused after striking, when the gases re-expand, and the pressure pushes tiny bubbles of plating up from the zinc planchet.

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