I did some reading about encased coins that have the silver ring around them and thought that might be what this is. I also looked at partial collars but it didnt seem the same. Weighs 2.49. Any thoughts?
As mentioned by @ifthevamzarockin, encased:
Post mint damage.
Paper money eventually returns to its intrinsic value. Zero. Voltaire
It was rubbed on a flat piece of something abrasive like sandpaper.
This took the copper off the high spot (rim, abe's forehead) and exposed the zinc.
Ok that makes sense, but how is there an extra ring going all the way around the coin that is raised more than the rest?