Broken 1908 Indian Head Cent. PMD

I'm pretty sure it's PMD, and your analysis looks to be spot on.

I've got about a 60% complete set of badly damaged (holed, gouged, scratched, badly cleaned, recolored, etc.) Indians that are all XF details or better. I'll have to take time to photograph the blue Whitman sometime :) Unfortunately some of the key dates (S mints, 1877, the 1866 to 1875 run) are pricey in XF details even with major damage, so it's slow going as I don't want to spend more than $5 or maybe $10 for a nice date.

It's a cheap and fun way to put together a set of decent details coins without spending a ton of money. The most "expensive" one so far is probably an XF details 1875, corroded porous reverse and scratched cleaned obverse. I had to shell out almost $20 for that one if I remember correctly. Oldest so far is an 1863 won for under $10 (dug, and looks it, but high VF-low XF) and I have several 1909s in equally "good" condition - one is a bent XF, one looks like someone tried to clean it with a Brillo pad...so on.

Mostly I'm doing this by buying cull rolls (advertised as damaged/holed/etc) and looking for anything that is semi-presentable but obviously damaged.

I've also got a Whitman going about 40% filled with aentirely harshly or obviously cleaned wheat cents, 1909 to 1948, some of which date back to my Dad showing me how he used Wright's Copper Polish to keep them shiny...

It dented my wallet to the tune of $5.80 ($3.00 + $2.80 s&h)so it's in the mid range of my "pretty/ugly" price limits. :)