Photo of the coins obverse of reverse would help, it looks like it was put in Nitric Acid, that would eat at the copper but not the Nickel (I think) It also may have been rolled on it's edge on some sort of abrasive surface or altered with a knife. Anyways, Regardless of how it happened, it is post mint damage.
It looks like corrosion due to chemicals of some sort, copper reacts in a different way than nickel so that is why the edge looks like that.
common as a beach metal detecting find. The soft inner core erodes away much faster than the top & bottom