This coin was at one time encased in a "Lucky Penny" token. ther rim looks like that due to the crimping of the aluminum ring to it. Richard
Hi, Ziggy has it exactly right. The coin is damaged . The rim was damaged when the coin was placed in the encasement. Sometimes the encasement is round, or horseshoe shaped. In any case the coin was removed from the encasement. They are not rare and have no value since it is technically a damaged coin. Have Fun, Bill