I'm no expert but it looks like Die Deterioration to me. It is possible that it is PMD but the coin looks so good that doesn't seem to be a likely cause. Another possibility is that it is just a weak strike. It seems that weak strikes seem to affect the letters more than anything else...maybe an expert will come along and set me straight on this... I hope...
Looks like a normal cent from what I can see. The glare from the light source shows nothing but glare. It may be showing from Struck Through Grease in some areas of the motto?
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