The coin does not even approach about good IMO. How about less than poor with damage. I don't have a high grade set of Indians--far from it. But I just could not bring myself to put that coin in my set. I would always see the problems and not the date.
I hear you. If it was me, I would save money to get a nicer higher grade. Key dates are tough on the budget though, and some people get what they can afford, even coins like this.