I would be asking the same question. There appears to be something going on. Could be a combidation of pmd and md, or maybe it is doubled. Those more knowledgable than me will give a better answer.
The middle picture of IGWT, the g o and d does appear slight doubleing or md.. The I and we are flattened IMO, due to coin counter
how about the date? does there seems to be a notch on the end of the tail on the first two 9's? Also, does the D mint mark seem to have something going with it? If your viewing from a mobile phone you can click on the picture and you can view it from a much bigger perspective.
On something like this it's a good idea to check around the perimeter of the coin to see if other design elements have the same smeared look stretching towards the rim. This would indicate a die that is in its latter stages and is deteriorating .
