I concur with the assessment of "Petert4522." It was printed and perforated as a normal coil stamp.
After the stamp was sold, probably to a bulk mailer, the company's poorly aligned cutting equipment damaged this stamp. Thus, every stamp from that coil probably has similar damage.
As a more extreme example, this is a 1990's Butte, SCOTT #2902. The original die cuts and perforations by the printer were passable. However, the bulk mailer's automated machines nearly destroyed the stamp, including the left neighbor which had a plate number.