1958 Lincoln - Mint Error Doubling Or Normal Strike

The area you are seeing, shows die wear. The wheat cents of the 1950's dies were way over used. The wear pattern towards the rim is caused by the metal movement, forcing the metal into the shape the dies direct made the dies show a wear pattern because of doing the same thing over and over, made the dies wear towards the rim. This caused the outside edges of the devices to slowly lose that edge. Your coin is a LDS (Late-Die-State) but still struck many more coins before it was retired. Most of the time they we used until the broke. During that era, a lot so strange die events were seen. More than any other time. But your coin was struck with probably with the same die marriage showing the same amount of die wear on each die. While there is no premium for this, but knowing the cause help your knowledge of coins. All dies wear, but your coins dies were getting close to retirement by today's standards, but probably struck hundreds of thousands of more coins. Hope this helps.

That's heavy Die Deterioration. These 1950's Wheat Cents were notorious for extreme die wear.

Thanks for the help in identifying the issue with this coin. This was very helpful.I gained some valuable knowledge, and learned a new term!!