What appears to be a sunken portion of the coin is not a die chip. Die chips are raised, not sunken. Please post full, large and sharp photos of the coin's obverse and reverse--right side up. Thanks.
Depends on how it was put on the surface of the coin with an eye dropper. (Not the usual dipping, but added to the coin directly. That would pool on the fields and not affect the top of the 'Y'. That was what I seeing on this coin.
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