Copper error cent, 2.5 Memorial cent.

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I believe that is very possible. The blasting would have reduced the coins weight.

 

Occams razor would suggest your 2.5 gm U.S. minted one cent piece with memorial reverse was minted on the lower weight zinc planchet. If it were minted in '82 or '83 then yes you have a transitional cent. But there would be n a v because there are billions of them out there. The lower weight zinc planchet is associated with 1983, the transitional year, but they actually started using the new zinc planchets in '82.
Whether your coin is a capped die with such a gob of grease on there it caused it to stay stuck on the hammer die for repeated strikes. Which could cause greaser effect to enhance. Or a gravel parking lot coin laying face down with 40 ton trucks rolling over it or what I don't know. I hope the TPG you send it to will fill in all the info. The few deep cuts, the A damage, and the strange pmd to the R in America don't convince me it is a copper planchet. The weight just works against that. And that R damage opened that loop up slick as a whistle. I don't see any feathered edges of moved copper. Super strange coin to say the least !

 

It is a thin coin, no zinc is showing. The crater next to the last A/AMERICA is deeper than 8 microns, but still no zinc showing.

 

Yes, that's what I've been saying. If it were in fact a zinc cent, surely zinc would've been showing through somewhere. The valley's on the obverse side are so deep, any deeper and it would've punched a hole through the thing. Same thing with sandblasting, wouldn't it have expose zinc somewhere on the coin as the coin was thin from the beginning? I do agree it is quite a puzzle. How nice to have discovered it as it makes for quite a conversational piece. Thank you so very much for your input, it adds to the many ways we get to view it and possibly get to solve this mystery. Happy hunting!