1954 S Wheat Cent, Random Die Chips?

Correct. Die chips. The dies were over used on the 50's wheat cents. All kind of strange events happened during that time. Note on the reverse on the areas between the devices and the rim of the coin, you can see strong die flow on that area. That tells me the die was in the LDS die state when your coin was struck. Is the coin shiny (I mean more than normal) If so the coin may have been plated gold in color. It seems to gold looking to be original, but lighting can affect images. If it really is copper colored, then it looks like an un circulated coin. The reverse doesn't show a DDR. The obverse doesn't look like a DDO. The mintmark I can't really see for sure if it is a RPM or not. So a closer view of that area would be nice to tell if your coin is a variety coin, or not.



A view of about this close of the mintmark area would be able to see if there is a RPM.