1905 U.S. 1 Cent ERROR?

I have this 1905 1 cent and it has a perfectly circular indent on the back and in the front risen but not like the circular one from the back. Need help identifying what this is.

On the indian head side, Is the indent completely flat bottomed and side, or does it raise up or dip down conical in the center? And on the other side using your finger nail lightly scratching does it catch onto anything? And does the coin sit flat?

This looks like post-mint damage. Someone most likely tried to make this coin into a tie tack or a cuff link. That is a popular pastime for many coin and jewelry enthusiasts.