Just extreme die wear on the die that struck that coin 100+ years ago. Since then it has been seeing a lot of coin wear. Not a premium coin, just another Wheat cent. A new collector would like it as an older coin. It would be a hole filler until you get a better example for an album. Seeing your coin reminded me another reason the 'L' maybe missing. Note the wider rim? These were seen on the 1909-1919 cents. On these cents with the wider rims it created a different wear pattern on the die. Most times the die wears towards the rim. But on some of the cents during this time show die wear on the insides of the devices, rather than the outsides of the facing the rims:






So this wear pattern because of the wide rims may have caused the wear pattern seen on your coin. While there is no premium for this, you coin called to mind that this may be the reason that only on this decade that this issue was seen on the coin where the 'L' was totally missing.






So this wear pattern because of the wide rims may have caused the wear pattern seen on your coin. While there is no premium for this, you coin called to mind that this may be the reason that only on this decade that this issue was seen on the coin where the 'L' was totally missing.

























