I think what you're describing is the beginning of the end of the master hub deterioration. The same master from 1909 was used until 1968. Billions of cents were made, requiring millions of dies, which in turn required many masters, and so on up the line to the original.
Each time a die or hub was used to make more, the tons of pressure squeezed the original design from the center to the edge. It might only be a billionth of an inch, but do that a million times, and you've moved the edge detail a thousandth of an inch, enuf to move the L of Liberty (which is what I think you meant) to the edge.
By 1968, it got so bad they re-engraved the design for 1969, to get everything back on the coin. Compare the original, 1968 and 1969 coins,noting that even on a proof 1968, the L is almost off the coin, and note the top of IGWT: