1946 D Jefferson Nickel. Almost A Clip?

Yeah, that's what I'm stuck on, too. If the front and back of the coin were crushed inwards, then why does the metal underneath have any rim structure whatsoever? Maybe that could happen as a type of repeated circulation wear being inserted into coin slots for 77 years, but it sure seems odd.

I think we need better angled pictures of the edge, and also how the lettering approaches the edge.

I'm almost wondering if this was a flawed planchet with thin metal in that section, that then got some rim formation in the upset mill. I can see that the rim on the back directly across from the anomaly also looks unusual.

Alternately, maybe it's just that the internal metal was compressed by the upset mill, and circulation wear has made the different metal reappear, somewhat like Nic-A-Date on Buffalo nickels.

Lots of possibilities, above my pay grade.

.

Here angle 3D pics:

Could it have been crushed vertically without deforming the circular shape?

Rob, lay a cent on top of the nickel, centered and see how close it aligns with the damaged sides.

The center swirl on Reverse reminds me of coin dispenser markings; you know the old school ball park hot dog vendor thingys. Coin could have got jammed in one and enough force applied - AKA hammer to the lever - to cause some PMD by the push out arm. Thats all I got !!!

It seems to me that the perimeter of the coin was pinched after the coin left the mint. Later circulation presumably pushed up an elevation along the outside of the pinched metal on both faces. I cannot entirely rule out damage to the blank (i.e., pre-upset). However, if this were the case, I feel that the two "lips" on the edge would have been flattened down to a greater extent by both upsetting and the strike.

Thank you all for your comments and opinions.
I'll put it down as one of those maybe ( not sure).

@Coinhi.
I thought the same thing at first. But to put something braced on that side so to pinch the other side on both sides of the coin, just thought it would've caused more damage there. The rim is only pushed in a small amount on the reverse side. I'm still wondering, how did the letters get pulled away in sort of a straight line from the curvature of the rim on both sides? To move that much metal would've taken a lot of pressure. ( Even if that was possible.)

I really appreciate everyone's help, on all the questions I come up with for the coins I post.

Thanks. Rob