The rim and edge looks damaged. Could of been in a coin bezel once then removed. So circulation wear on the lettering. IMHO
IMHO, this s a genuine, undamaged, original coin with a trace of rub. Planchet metal did not fill the die. There are many causes for this effect. Rather than propose that a ring of grease was on the die, this effect was probably caused either by an under tolerance planchet or the press was not set up correctly. You can see the original planchet surface in the weak areas of your coin. Very nice keeper!
No. But I'll say 98% probably not just to keep the discussion going. What do you think happens to the upturned rim of a planchet when the pressure of the dies is not enough to push metal into the die recesses and collar?
Looks like it could be 1. Rolled Thin planchet - check the weight, in grams or grains. 2. Weakly struck - is the reeded edge full, or weakly reeded? Based on what I can see, and not knowing the weight, I'd say it's on a slightly rolled thin planchet.