Found This Nickel While Counting Sons Saved Change

The OP says it is raised on the obverse and indented on the reverse. To me it looks like it was put on top of something with a round opening, obverse down. Some sort of hard metal surface with a hole in it closer to the size of a dime. Something roughly hex shaped but a little damaged (butt end of a cold chisel maybe?) and smaller than the nickel was placed against it at a bit of an angle so that first contact was ahead of the beaver and was hit hard with a very heavy hammer, or perhaps more likely, a press of some type. This would give you the raised obverse circle shown and create the odd looking, vaguely hex shaped indent on the reverse. That's my theory. :)

Regardless, PMD imo.

You can tell the obverse is raised by where the damage is. The centre part that is raised has no significant damage but around the outside of the raised part is completely flattened, exactly like it would be if it was hit like I described above. The same with the reverse. The damage is all inside the hex like it would be if something hex shaped was hammered into it. You can see where it hit into the date and the C in Canada.