Looks like post-mint damage. The edge is beveled higher than the relief of the obverse and reverse indicating the edge "bulge" came after the coin was struck. The amount of scrapes and damage to the obverse and reverse also indicates this, as wear should appear on the higher bulge areas before the low laying surface, yet that does not appear to be the case here.
Kind of looks like someone tried making a ring out of it, but not quite right. Maybe someone was just playing around with a penny and a machine?
Now that I look at it again I will name it "The pizza penny" as it looks like a pizza crust.