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Ran across this question and decided to take clear photos of another 1937 Canadian 10¢ piece with a very similar defect. It's a 5mm crescent-shaped bulge and is clearly raised from the surface of the field. I am also curious whether this would be considered a planchet defect or something else. First is an image of the whole reverse, and second, a close-up of the bulge, looking a bit like a phantom sail.