Someone either got carried away with a dremmel, or someone was attempting to solder something to it. A closer image may show more details, but in either way, it's definitely PMD and worth 1 cent.
Looks like a melted piece of plastic or glue. If it was hit with heat hot enough to preferentially melt part of it, the rest of the coin would show extreme heat tint. Not that it matters because it is still PMD and not worth more than face value.
