This is the only known error of its type. It's called a one sided error. It's obvious the obverse was jammed in the coining chamber without a rim and being Zinc, this is the result of the strike. Unfortunately the reverse has been damaged as Lincoln is looking left when it should be right. Another telltale sign is the L is backwards. Why would anyone lower the value of this genuine mint error by doing what they did to the reverse is mind boggling.
The reverse appears to be a mirror image of the obverse. If so, not only the letters but the entire image would be reversed, right or wrong?
It appears to me to have been melted to the point of zinc loss that just leaves a thin coating on the copper of the obv.
Answer: Genuine It is what's left of the "floor" from a die cap. It stuck to the die face and kept getting rammed until it fell off into this thin fragment you see here. It shifted around for a couple strikes as there are at least two dates visible (I think I also see part of a third.). The opposite side has incused, mirrored images of what's on the reverse.
I decided to flip a coin (heads genuine tails not) I used that coin. It's genuine. My worthless but hopefully a little humorous two cents worth.
It looks, to me, to be what you described, with the addition of the fact that it is the copper plating from the obverse with the zinc interior and reverse plating gone [fell off?]
