Is this common? From the looks of it, this strike was hit hard enough to pierce cleanly around the entire memorial and each of the pillars and then the memorial rotated.
IMO what you have is called split plating. Don't know the value. https://www.coincommunity.com/forum/topic.asp?TOPIC_ID=347905
yes, split plating is very common on zincolns and worth 1 cent.... http://www.error-ref.com/split-peeling-plating/
Yeah, I'm familiar with split plating, and yeah, normally it's worthless damage, but this is the first I've seen it move in a rotated fashion. The memorial is actually rotated a measurable amount. Not crazy looking, that would have been awesome, but enough to keep for show. Before the zincolns, something like a rotated memorial would have been just crazy talk.
All split plating is rotated, to some extent due to the separation. Your memorial cent is a normal split plating effect.
You know what, I did find a couple more after that one. None had as much rotation, but I found one that must have a very thin copper electroplate cuz damn! check it out.... there is not one spot, not one edge of anything, every letter, every corner, every bend, including the rim. I mean even the double die deterioration has it's own split plating going happening here lol!