1907 Indian Head Cent Rusted Die??

Ran across this over the past weekend looking through some tin can stuff
of my son's.
It looks to me like it was struck with a deeply rusted obverse die.Between
the "E" and the "S" of States.
The bumps are raised.
Value is not the objective of this. Just getting my head
wrapped around differing die states and conditions of dies during the minting process. It helps to study the different die states of different coin series
to get a better idea of the different states of the Eisenhower Dollar Series
That I am currently studying.
Any opinions would be very much welcome

Terry

 

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looks like bubbling i've heard of newer lincoln making a sort of bubbling but never seen something like this but then again i'm no expert :S lol

 

From the picture, it looks like PMD (post mint damage) to me.

 

There is a 1907 IHC with die rust in Rick Snow's book and i just checked it out. Unfortunately, this isn't it and is just post mint damage.