Common for a 1968 cent, as this is the last year the mint used high relief master die that was made in 1916. 1969 was the first year for the low relief era of cent coins.
Really appreciate the explanation and the pictures. Is the accumulation of metal above the O and the D the result of a worn die, or is it just the rim being dinged and folded over?
Under increasingly heavier use, details and devices will change. The outer devices are most susceptible and will migrate toward the rim. Many folks will post cents here where the L in LIBERTY will blend with the rim. The design already starts out with things being close. Time and usage moves devices closer.