The ring around both sides is a product of Die Deterioration, meaning the dies that struck your coin were on their last legs. I also see plating bubbles on both sides, which were pretty common on early zinc cents when they were still figuring out the process. So no, it's not an error, but an excellent example of how poorly modern coins can be made.
The coin still looks brand new in color and looks indented and we're it says in God we trust looks off to the dark spots in pics are from indent and the of in United States of America is not like the rest of the lettering
Even though this die should have been retired long before it was, it was still striking coins. This die was EXTREMELY worn out. The fact that the coin still 'looks brand new' does not take away the fact that what you are seeing is Die Deterioration. This Cent may not have seen very much circulation and therefore will still look shiny and "new" even though it was struck with a worn out die, happens all the time. The OF is further evidence of Die Deterioration.
After inspecting lots of post-1982 Lincoln Cents, I've found a LOT of coins that look like this. Concave and convex with blisters and lettering cutoff. Unfortunately, they are just ugly coins worth a penny. I sometimes keep one or two just to remind me of how bad they can get!