@KG, first welcome to CCF. Second, yes for sure this coin has been damaged after leaving the mint. It is very odd how the center of the obverse has very little damage while the entire periphery has been severely worn down.
"If you climb a good tree, you get a push." -----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed." -----King Adz
To me, it looks like someone placed it against a nut, put it into a vice with rubber jaws, and tried to screw the nut onto it using a wrench. Very strange!
It's definitely only worth ten cents, but I'd probably keep it for the novelty.
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