This mark can be found on the 1 peso coin from 1974-1981 just left of the right shoulder of Bólivar. It looks like an 'E' or a 'w'. Maybe it is part of the design, but I think it just might be a designer mark.
It looks a little too strange and to the side to be part of the desgin. I cannot seem to find the name of the person who designed this coin, but I would agree with it most likely being the designer's mark.