1953 Ben Franklin Half - Edges Folded In - Error ?

could it have been an Encased Coin maybe?

doesn't look real to me

This coin was brutally vandalized.

I agree with coop. When I was a teen (many years ago), I thought making a ring out of a one shillimg piece (about a quarter in size). The original half pictured here was in faily poor condition, so there would be little value lost in modifying such a coin in a backyard workshop. A coin can be converted into a ring by first hammering it heavily edge on to the rim, then drilling a large hole through the center, then hammering the remaining rim flat in a maul which is a steel rod stuck through the hole. The resulting product is filed into final ring shape and finished with a fine gringing paste. I guess another method would to be to use a lathe.

Someone put in a lot of work to deface that coin.

Can you get a weight on this coin? I suspect that the "ring" is not part of the coin but another piece of metal hammered onto the edge, effectively functioning as a bezel. If the coin is heavy, then I am correct. If it is of normal weight, then the coin is just heavily damaged in an unknown manner.

Coop the you tube coins are very very nice.
I would say the coin spjegues has is one that has material added to it like some sort of wrap that was put on it that's my guess he said that the dia. is the correct size. when you "spoon" one the dia. gets smaller. I cary mine with me it was one my dad started on the ship he was on going to war.from what he told me it was a very popular thing to do on the ships from WW11 and the Koren War.