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Always dig your nickel signals !!!
Seem to be a loop but can't find on line
I definitely looks like a loop but can't tell how thick it is without another pic of the side. It is the same size as the fractional gold (Tiny) so opera glasses are out. To be a loop it needs to have 2 lenses so if only one lens it is a magnifying glass. Did you dig this? It looks to nice. If dug I would say has good gold content?
Cheers all