Looks like a bee sting. Probably if you looked in the center of that area, you will see a gray spot on the center. If so, that maybe a split of the plating allowing oxygen into the zinc layer, and it is reacting by raising. The zincolns do that:
I'm guessing that is a Struck Through Grease issue on that area. If grease fills the die, able looks bald. If the die was polished away, they a lot of stuff would be missing:
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