That's a "fisheye" - The guys I worked with had another less PC name for it.
It happens when a bit of debris gets on the rubber mat that transfers the image from the plate to the paper. As the roller goes over the plate the debris makes a dent in the rubber mat. The undented mat gets inked as well as the debris itself, but not the dent. That then gets printed, leaving a doughnut shaped unprinted area.
This one is quite large, and the debris was pretty thick to cause such a wide ring. I wouldn't think there would be a premium as the misprint is fairly common, but this one is so big I'd choose it over the correct one if I was deciding between them.
Also interesting is that one has red lips while the other doesn't. Also a fairly common variety but still interesting.
Steve B
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