A bit of an ugly duckling, this is a 1-cent struck on an oversized, unplated, zinc planchet. You cannot see it in the photos, but there is rim finning on both sides and the coin is much thicker than normal. Normal diameter for the plated 1-cent coins is 19.05 mm - this one is 21 mm.
As the result, I think the coin was the result of "mint shenanigans", and was forced into the press by someone, and possibly forced into the collar by the strike of the hammer die. The coin is fully struck but was probably bent when removed from the collar - hence why it was graded as genuine. Other than it being slightly bent, it shows very light wear, and I would grade it AU-55.
Nonetheless, this is one example where a crappy looking coin requires the PCGS holder for its true value to ever be realized someday.
https://www.PCGS.com/cert/33950455