It's not an altered 1932. The first, third, and fourth digits line up. A 1932 would have the third digit above the line from the top of the "1" through the top of the last digit, and the angle of the top opening would be more sharply angled. The OP's photo isn't clear enough to rule in or rule out a removed mm, but the digits in the date line up like a 1922. The third digit can't be a "1" or "4" because it lacks the vertical element. I can't imagine a 1952 this heavily worn.
There's at least the possibility that a better photo would reveal a 1922-D. That's as far as I can get with the existing photo.