So, I'm thinking very worn dies were used on this nickle. Coin seems to have crack along side the whole rim on both sides. With magnification it looks like the rim was folded over so the crack looks to actually be the start of a second layer of clad. Almost looks as though when coin was minted the die squeezed out the clad and was stamped over lettering.
Example... Thing of taking a peice of foil and covering up some letters half way very tightly. The edge would slightly lift but the texture of the letters would blend with the rest of the letters but with a seem. Am I making sense?

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