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The date appears to be 1992; this was the first year Britain made copper-plated-steel pennies. You can confirm this with a magnet; it should stick.
I can speculate two environmental causes of such damage:
- Fire damage, with the bubbling is caused by heat separating the copper plating from the steel core; - Saltwater or pool water corrosion, with the steel core reacting and corroding (rusting) underneath the plating.
I'm leaning towards the fire option at the moment.
There is nothing so absurd that some philosopher has not said it. - Cicero
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