It's die wear. When the die strikes the coin, the metal mostly flows outward, and this gradually wears tiny groves in the die, creating this sort of radial wear pattern. As the die continues to be used, the groves get bigger and deeper, eventually resulting in coins like this. I see a lot of coins from the 80s like this; it seems like they really stretched how long they used dies back then.
Great example of extreme die wear. Very common on 1982 and 1983 nickels. Not really worth anything but good to keep one or two as educational examples.
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