Indian Head Error? Possible lamination?

I bought this one on the Bay tonight for $12 inc shipping. I sure didn't break the bank, but I am trying to get a variety of error IHC's for my extra page in my dansco (lamination, clipped planchet, broadstrike, etc.)

I was looking at the rim at 9 o'clock and noticed that something is up. I don't know much about laminations, but this looks like metal used to be there and has become separated. I think this, because you can see detail of the denticles in the rough area in question. In the middle of all the disturbed area, there is a small spot where the denticles are full and the metal did not come off.

What do you think? The pics are not great, these are the sellers pics. I will be sure to get some better ones up when it arrives. Thanks,
RR

 

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I'm thinking ex encased cent until we get better pictures. Just a guess.

 

It came from a holder like this.

 

seems odd to be so red and 111 years old as an encased coin.

 

The image has that pink look that makes me think it was dipped at some point.
To me it's still a nice looking coin with a bit of cool history.

 

Ah....thanks everyone. Ill keep looking for the lamination. At $12 it didnt kill me.

 

Too bad it was taken out of the encasement. In that condition it would have been worth a lot more in the encasement. Possibly $80 to $100.

 

Here are some pics I took today. Definitely looks like it was encased, though I do not believe its been dipped or cleaned. I might try to find an old encasement and "put the cain back in its home" Still not a bad $12 coin though.