Just a badly worn out die exhibiting a ring ridge that has interfered with some of the devices. Not an error, jut a very late die state, and very common on mid to late 80s pennies.
The ring is from Die Deterioration. The coin was struck with old dies. The reason it's not worth anything is that lots of coins are struck with failing dies.
ANA ID: 3203813 - CONECA ID: N-5637 Clean a coin that may be worth collecting? Please DON'T! When in doubt, leave it dirty!!
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