The reeding that shows to the left and right are reflections of the edge, as mentioned above. However, the reeding at the bottom comes from your camera not being perfectly centered and parallel to the coin. A perfectly aligned image can still show the tops of reeds because that is the outside diameter of the coin – not the rim.
When taking pics of coins in 2x2s, spend the extra 3c and remove them (carefully!) from the 2x2s first. Yes, the Mylar is clear, but not clear like a camera lens, a filter, or air.
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<< <i>Reflection off the mylar in the 2X2 >>
Yep, that's exactly right.
A little out of focus, but good to know.
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