Looks like the edge was smoothed and damaged because it was maybe in a Jewelry Coin Bezel. Such as...
Once I heard of someone who had a bezel with a 1923-S SLQ in it, a key date. Really was kinda sad to see such a desirable and valuable coin ruined like that.
My wife saw some idiot woman come into a jewelry store with a box of loose St. Gaudens to have holes drilled in them to make Mardi Gras necklaces for her to give away. The jeweler refused.
So she was stupid enough to want $1000+ pieces of history to be holed, destroying any value besides the gold, and then make them into necklaces and give them away? That's even worse than the key date SLQ ruined in a bezel! On a related note, your last sentence made my heart sing with joy. By the way, I do like counterstamps, as long as they are not on particularly valuable coins.
OR: you will find that a lot of people who have a lot (which this woman did) have no respect for what they have or the realization of how lucky they are to have it.