This variety is from the Puckered Lips family. This variety is known struck most commonly on copper planchets and about 1/3 on German silver planchets, all with the same lettered edge die marriage, when such detail is visible.
 
This is one of the rarer German silver planchet examples of this variety exhibiting VG/F details with a field test scratch and some poke marks above the cap. Overall, an attractive piece.