There are Obverse Caps, these are struck coins that adhere to the Obverse upper die and begin to strike new planchets as they are fed into the coining chamber. As this happens the coin that adhered to the upper die is now acting as a die and is leaving its reverse as an impression on the newly introduced planchet. As the Cap continues to strike incoming planchets it expands since it is made of a much softer metal than a hardened steel die. The cap begins to wrap in self around the die and becomes thimble shaped, eventually it becomes thinner and thinner. It will eventually start to disintegrate and fall off either as a whole cap or in pieces.

Much like the Obverse die cap, the Reverse Die cap adheres to the Reverse die and also strikes incoming planchets. Leaving its Obverse image on the part of the new planchet that would normally receive a reverse image. Reverse Caps almost never get that deep thimble like shape of Obverse Caps because they are usually knocked off the reverse die by the collar as they expand in size.

Reverse Caps will have high reverse rims that wrapped around the reverse die, the other side that usually has a normal obverse strike will exhibit a 100% indent like shape and underneath that you will still be able to make out some of the previous Obverse strike. That mushy distorted obverse strike is the key! That tells you that it had been struck normally and the blank planchet entered and landed top of this Cap and was struck by it. Examples that still show a full or partial date are more desirable. Even more desirable are examples that exhibit double or multi strikes on the reverse, these are highly sought after by collectors and can command a $300. price tag.

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All content in this newsletter is the opinion of the author and should not be taken as sound investment advice.