Grease filled (missing letters) and appears to be plating splits above letters , happens when struck, stretches the thin plating exposing zinc core...turns to corrosive "zinc rot" quickly.
Looks to me like a partially filled die (grease). The partially missing last S in STATES, and the "lines" inside several letters, especially the first S make me think that. The ridge over the UNI in UNITED is from wear on the die. As far as the TED, without better pictures, I'd say it's also from the worn die or possibly zinc rot from split plating. All of the above adds up to a spendable coin - unless you need to keep it a while for reference. This is for finding a coin you can learn from. Better luck finding a nice coin sooner than later. Here's a little something you can listen to while you're looking.
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