Have your tried a toothpick on it to see if it is part of the coin or something stuck to it? If it is part of the coin it might be a die chip. But the shape make we wonder if it is just something on the coin?
Looks like an extra chip of metal that tore when the die was lifted, leaving a small die chip. It looks odd once I magnify the picture up to near 300%. It looks as if the base of the chip is square almost. It may be due to the pixelation, but I doubt it. That may mean it was a die chip, and over time it has been tampered with (through wear and probably its semi sharp edge snagged something) and is peeling from the "P".
Once coins go into circulation and travel, no one knows the true route and abuse coins will go through.
On the last picture that was blown up it looks like the feature in question goes into the loop of the P. Is this correct? If so I would hazard a guess of a die gouge. I'm a newbie myself but I'm sure someone more experienced will be able to provide better information.
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