Looks like a sunken die. Common with the 1985 and 1986 pennies. The die yielded and sunk in some due to improper heat treatment to strengthen the working dies. This caused the soft dies to sink / dent inwards and caused a raised surface on coins struck in which details lose their definition such as your L that looks like a lower case L. I have seen this so strong on a 1986 penny that the 6 in the date looks doubled, but its an illusion caused by the sunken die. The reverse dies seem to be more troubled than the obverse dies for these years. Especially 1985 for both P and D.
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