1832 Nova Scotia Half Penny Token - Lamination Issue Or Something Else?

I recently acquired this token and it has a semi circular cut on the reverse side. I was thinking this was PMD, but noticed that some of the designs and letters are missing below the cut

- H in "Half Penny": mostly gone
- T in "Token": mostly gone
- O in "token" worn or weekly struck
- Stem and bottom of thistle above leaves missing
- Interesting shape of inside rim where the cut line is

and there is a notable ridge, where below the cut is lower. On the obverse side

-Last A in "Nova Scotia" is not visible
-very feint trace of cut from reverse side

I have been trying to think of way the coin could have been double struck, out of collar etc... but not seeing it. Only think I can think of is some kind of lamination peel or maybe some kind of strike through.

Your thoughts are appreciated