It is a die chip. Die chips were common on the 50's wheat cents as they overused the dies past normal retirement. You can find all kinds of things that are common because of die wear during these years. Cracks/chips/breaks/excessive die wear and on and on.
I actually just ate one with lunch... Yum! Very cool! Now I want one! I'm in the mood to search all of my LWCs for this now. See ya in about 3 hours CCF
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