It's a genuine mis-annealed or improper annealed planchet. There's one easy way I could tell it's genuine - can anyone guess how?
It's a result of a loss of protective atmosphere or being stuck in the annealing furnace for a prolonged period of time, or both.
I could immediately tell it was a genuine mis-annealed planchet because: Every single 'mis-annealed' coin that someone has shown me at a coin show, or in an email, that turns out to be environmentally damaged or played with, has a darker duller surface than it should have, AND every single non-error has the same dark color on the reeded EDGE of the coin. See the edge photo (#3) - it looks like a normal BU Quarter - the copper core shows a nice normal red color - that's because although the planchet itself (on a genuine mis-annealed planchet) would have the dark color on the smooth edge, once it's struck in the collar, and ejected, that dark color is removed from the reeding due to the ejection of the now-coin from the collar. (I could also tell it's real from the surfaces themselves, - although mis-annealing leaves a range of 'darknesss', seeing the reeding as a normal red copper color is one of the keys to know it hasn't been played with) Hope this helps - it's a good authentication point to check, if you're not sure of a 'darker' color coin is truly mis-annealed/improperly annealed, or has been played with after the coin was in circulation.
Although most of the 'full' dark planchets are uniform as to the darker color on both sides, there are some that show a normal surface on parts of the coin, due to how it was laying in the annealing drum when it dried. That's a good thing to look for, but there are exceptions.
....as opposed to a coin that's been 'played' with, which will have the darker color ON the reeded edge. Closing the office now, will see you all tomorrow morning.
Fred, Could you please tell me your opinion on this coin I posted? The reeded edge looks like Rick's coin. https://www.cointalk.com/threads/improperly-annealed-arkansas-quarter.289484/#post-2620461