I'm thinking that's a bottle cap. I don't remember if that's the correct terminology or just coin slang. The obverse side looks like it's missing a lot of the clad layer. I have no idea what it would be worth if,that is indeed what it is. I'm sure the more experienced will be posting shortly. I do know if that's a dryer coin, it must have been living in there for quite a long time!
It was a normal Cent when it left the mint. At one point in time after it's release,some one had his/her way with it and grind it down. It is a PMD Post Mint Damage. safe to let it go!
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