Hi limss70,
In my opinion, this is could be due to IMDP - (Internal Metal Displacement Phenomenon) also called as PIDT (Progressive Indirect Design Transfer) or Heavy Design Transfer.
Error location: Die Error >
Die Deterioration > PIDT/IMDP
To understand how this phenomena occurs is not that hard. When the hammer die (obverse die) strikes the planchet, the force of the strike is transferred into and through the planchet and onto the opposing die (reverse or anvil die). Since the dies are slightly convex, the strongest force felt on the planchet is in the center of that planchet. However, in the case of the
Lincoln Cent, the center of the die is incused, so the area to feel the first and strongest force is the field area immediately adjacent to Lincoln's bust. Each striking of a coin transfers a small portion of the force onto the opposing die. The area that transfers the most force onto the reverse die is the outline of Lincoln's bust. This transferred force produces uneven metal flow in the reverse die, gradually creating a a "ghost" image of Lincoln. (copy-pasted from error-ref.com)
But I am not sure because the incused rings that exist on both of reverse and obverse do not resembles any of the design of the opposing dies. Could it be due Planchet Error?
This phenomena is also commonly found in Malaysia 20sen 2001 coins.