What causes this?

[BC1969]

1985 zincoln.
The coins inner diameter is pressed down so far that the writing is on the rim?
View attachment 1683968

 

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[enamel7]

Overhead shots are better, but it appears to be a ridge ring. Die was extremely worn. It doesn't add a value to the coin.

 

[port ewen ace]

and yet- there are clods selling and buying these on Ebay very common and worth less than 1 cent