Is this an "encased" coin?

I've read about encased coins and "railroad rim" ones and I'm not sure of the difference. The back looks like a lot of damage. I thought someone could clear it up for me. Thank you.

Angie

 

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kinda looks like one i found that was once used for jewelry

http://www.cointalk.org/showthread.php?t=13397

cool find tho... good luck finding others!

 

It is in a jewelry bezel. Most collectors consider ex-jewelry coins to be damaged.

Charlie