It looks like it's just typical circulation wear mixed with tired dies. Dies in the 20's were notoriously used well beyond the typical life span. They were needing to save money and used the dies until they just could not mint anymore coins from them. Take a look at the 1922 No D strong reverse. The obverse of the coin would look like it had circulated for decades while the reverse appears uncirculated.
Voted. Yes, definitely worn, and damaged. But I don't think it is an error piece, that is, no damage occurred (IMO) during the production of the coin ...
I have a question, when this coin was struck, the rim is higher then the field . So as the coin wears the rim will always be higher then the field . Here's the real question, then why is the field higher then the rim now . Only one answer, lucky cent ....
It's had a long hard live and should be put to rest in the bank. It can't even tell where it was minted, admitting only that i was sometime in the twenties.