Panaeolus semiovatus var. semiovatus, also known as P. semiovatus and Anellaria separata, and commonly known as the ringed panaeolus, is a medium-sized buff-colored mushroom with black spores that grows on dung.
The cap is up to across, light tan then buff to whitish. It is oval then conical or parabolic. It is sticky when wet and often wrinkles when dry. The stem is up to long and 12 mm thick, solid and smooth, with an annulus (ring) that is white, but often blackened by falling spores. The gills are , being wider in the middle, and narrowing at both ends; they are brown to black. The flesh is white, or straw-colored. The spore print is black.
The very similar P. semiovatus var. phalaenarum (Fr.) Ew. Gerhardt. 1996 syn. P. phalaenarum (Bull.) Quel. is more slender (cap 2âÂÂ4 cm) and lacks the ring.
The species grows on horse dung. It is widely distributed and is present in many temperate zones of the world.
Though nonpoisonous, it is generally regarded as inedible and possessing a rather abysmal taste. It has been unreliably rumored to contain the indole alkaloid psilocybin. Some people experience gastric upset after consumption.
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