First time poster, love this site. Got this quarter in change one day, noticed it wasn't quite right. Any ideas?
Looks like the collar may not have been in place at the time of striking, causing the metal to spread further than it should have.
Looks like the rims have been ground down to me. Can you post good close-up photos of the rims and edge?
The more I look and consider the matter, the subject coin does not appear to exhibit traits of an uncollared strike (i.e. broad strike) as I thought it may have been. At this time I am thinking PMD.