Just looks like corrosion to me. It is not uncommon for contamination to be present on the zinc before the plating is applied, especially in the early years of the zincolns. After the plating is applied the contaminate starts causing the zinc to corrode and creates a bubble under the plating that eventual breaks open. Also around the devices the plating can be damage enough to expose the zinc enough to start reacting with outside contaminates. Around the mintmark is a pretty common place for it to happen.



















