As you mentioned it is a brockage of a contemporary counterfeit. These were struck on under weight planchets and frequently undersized ones as well. If the planchet size is normal then I would suspect the brockage maker has struck a few pieces and is starting to spread. If the raised design on the other side is also running off the planchet like this one is then its the planchet that is undersized. If the raised image is not falling off the edge then the brockage maker is spreading.
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