Counterfeit 1954 Nickel?

Well, today in my roll searching I came across this specimen:



Where it is not a Henning Nickel, I am becoming very convinced that it is a contemporary counterfeit.

Despite the level of apparent wear and complete lack of details, it weighs in at just over 5 grams. I would have expected 4.78-4.90 grams at that grade.

Magnetic and diamagnetic reactions are normal, but they tend to be weak as it is on anything smaller than a quarter.

However, it does not ring at all when flipped ("dinks" worse than a zlincoln; no resonance).

Finally, on the obverse (especially around "IN" and by Jefferson's ponytail) there's a distinct graininess, generally characteristic of counterfeiting. Under the microscope confirms that they are raised, not incised from PMD or in any shape or pattern that one would normally expect from acid damage. They also appear on the border between the fields and the devices around other portions of lettering, where the outline of the letters becomes a bit jagged.

While I'm not quite convinced enough to pass full judgement yet, and since I have no other examples to compare it to, I thought it best to solicit opinions.

Whacha think?

Any other examples out there of something similar?