I think we might need better photos to tell you more about the coin. It could be a die chip. Or perhaps the coin was heated at one point and an imperfection or air pocket in the metal expanded to form a bubble. I've seen that happen on some coins from the U.S.
Actually, since these coins are made of plated steel, my first assumption for an unusual blob this large would be a rust bubble forming underneath the plating. Which would be PMD, not an error/variety.
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