Definition (according to Wikipedia): A lamination flaw is a planchet defect that results from metal impurities or internal stresses. Lamination flaws cause discoloration, uneven surfaces, peeling, and splitting
There are a number of different types of lamination faults and one needs to look at these closely to see if they are caused by faulty production of the metal or process or by unusual wear and tear of a coin or post mint damage (PMD). PMD can be many things including people tampering with a coin. Because of this I personally prefer to focus on collecting higher grade coins that may have a fault rather than coins that have been bashed around in circulation for years
Pre Strike Lamination Flaws
1980 20 Cent
With this coin we can tell that a small piece of metal has broken off before the coin was struck. On the direct opposite side of the coin the last 1 has not had enough pressure due to the missing metal not putting enough pressure on the die. It is not unusual to have have metal striations showing on the opposing side as there has not been enough pressure between the dies to smooth these out
Post Strike Lamination Flaws
2010 $1
This coin shows no missing detail on the reverse so the metal most likely split not long after it was struck