Denticles appear weak close to the impression on both sides. Wear on the opposite side appears to be in keeping with old damage. 1844 John Austin Farthing
It was hit post mint. The flattening on the opposite side is evidence of the hit. Not a struck through.
I believe if it was struck through it wouldn't show the damage on the reverse, if it was still in the dies it could not "bulge out" like that.
Yes its an interesting story. In 1844 the miller John Austin from Willenhall issued tokens worth one farthing (a quarter of an old GB penny). These farthings were used to give change in the shop or to pay employees so that they could spend the money in the Austin shop or, apparently, elsewhere. There was a shortage of coinage at the time and the issue of tokens was fairly commonplace. When Joshua Rushbrooke took over the Austin establishment a new similar coin was minted, using the same design for the "Let Willenhall Flourish" side. In 1862 these tokens were declared illegal and new bronze coinage was issued. The 'Rushbrooke' Farthings were redeemed by Rushbrooke's at considerable cost and sold for their scrap value. Fortunately a few have survived.
What Paddy said. Someone intentionally pressed an elf or a gnome into the piece. (By the shape of it.)