The straight line coming out of the bottom left corner looks to be a die crack, but I'm not sure what that jagged error feature is that goes through his beard. If it was a post 82 penny I'd say it was maybe zinc peeling, but it looks like yours is pre-82.
You have a lamination peel worth a buck or two. These happen due to improper alloy mix and the metal doesn't bond properly when it's rolled out. They are pretty common.
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