So I was close but overthinking a bit too much. I thought it was struck through a die cap, possibly a uniface cap created during a stacked two-planchet strike. Close, but not quite, as Mike is indicating a straight up uniface strike from stacked planchets. CoinHI figured it out!
Mike's comments:
"This would be an in-collar uniface strike. Since the raised ghost of the Memorial and the incuse ghost of Lincoln show approximately equal strength, it's likely that the underlying planchet was full-thickness. However, it's odd that both ghost images should be so strong. When you have a strong Memorial ghost but little in the way of a Lincoln ghost, that indicates that the underlying planchet was abnormally thin (split or rolled-thin). A full-thickness planchet generally produces weak ghost images (or none at all).
When two planchets are stacked on top of each other in the collar, effective striking pressure is elevated, resulting in a strong (and often finned) rim, and a tall, flat edge.
I agree that the vertical striations on the edge most likely reflect a worn collar.