Looks exactly like those that I know were sand blasted. Many different types of blasting abrasives are available, ranging from hard sand to soft plastic pellets. Each produces a differing effect, depending on air pressure poundage, hardness of blasting medium and distance [standoff] from gun nozzle.
It could be any of the things mentioned, or it could be a poor attempt to counterfeit a coin by casting it.
I just thought about this coin because right now im watching a 1937 3 leg buffalo on EBay it looks exactly the same (except with 3 legs) and its already up to $157.50
I think what 2CentRick is trying to say is that the eBayer is about to get burnt by the condition of the coin.
I have not seen the auction. Even if it was real, in that condition it would be a total dog and a waste of money. There are a lot of these certified for sale. Unless you REALLY know the real deal, why take the chance?