What's the reverse look like? Same? Or normal strike? Does it too have pitting? Are there abrasions? I don't see brockage or die cap. I agree with Conder...a blob of grease filled much of the die. Someone will pay more than a penny for it though I wouldn't. Lance.
look at this website is my coin like this http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=310239570274 or http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=130507396880
It almost looks like a late stage capped die (I'd know because I recently sold one), but it is unusual for the bust outline to be completely visible as it is on your coin with the fields and rim people so vague (usually on these LSCD's, the whole obverse or reverse of the coin is completely hard to make). Quite interesting indeed. I also saw a coin similar to this in the newest issue of Coin World Magazine and they were saying there was a problem with weak strikes on Lincoln Cents nowadays, but once again, I am not entirely sure if this is what you have. -Brian EDIT: I now see my opinion has previously been mentioned on this thread. Darn! Thought for sure I had it first! Haha.
A capped die occurs when the struck coin sticks to the hammer die instead of being ejected. (The next planchet struck becomes a brockage, with a normal reverse and an inverted reverse for the obverse from the stuck coin.) The capped die continues to strike more planchets, wrapping itself more and more around the die, and sometimes accumulating more planchets, until it falls away. The capped die can have full details or miserable ones but it usually is very misshapen at the rims, particularly if it has been used to hammer many planchets. The OP's coin does not look like any capped die I've ever seen. They're pretty spectacular looking. Lance.
It's not a really uncommon "error". I think it might be worth a couple of bucks at most. Like Thad said, maybe 10 to the right buyer ? It is something you might want to put into a flip and save to start your own error collection ? What you can do when handling your coins is get a lightweight pair of cotton gloves. They need to be very thin so you can handle the coins easily, but that will keep you from messing them up. It's especially important if you get any brand new coins. That first time fingerprint stays on them forever unless properly cleaned right away.