The obverse is die cracks. I can't see if the lines connect or if there is vertical or horizontal displacement, but it might be a retained die break. The reverse is a die chip.
The area above the head is a slightly raised plateau. That stuff at the top after we is a pencil mark I made while checking it out. The eyelid looks heavy and is that an extra below it? Or maybe it is doubled - sort of a depression down the middle of it length wise. On the head that worn down area ends in a cliff on the south edge, and looks as if it had more than proper mass to begin with. Like wise withe cliffs on the chest, looks like worn down chips? But still worthless anyway, right?
I'd say the die cracks on the head are probably retained breaks given the displacement. The piece of the die had completely(or almost so) separated, and was still holding in place. The shoulder cracks just look like the typical deep die cracks that we see in that area. I can't see the eye, but class 4 doubled eyelids were fairly common for that era.
Given the shape. If it were unc you might get a couple of bucks for it on Ebay. Some people collect die breaks from the Lincoln series.
I think there is some lam going on also, perhaps helped along by the cracked die? The area above the line is lifting off.
It may look that way, but in actuality it is still a die crack/break. Examples such as these are often mistaken for lamination errors.