It looks like a large die chip. That area on the die broke and fell off. The pressure of the strike forced the metal of the planchet into the cavity left in the die. Any coins stuck after the die develops a chip like this will have the same anomaly.
It makes it look like Roosevelt's head has been severed and the spine is showing. (Sorry, I'm getting into a Halloween mood.)
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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