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If you are talking about the think raised rim from the L in LIBERTY to the I in the word IN, then I think this is a small fin.
No I am talking about the raised rim caused by the raised coin edge. The coin edge is raised all around the coin as if its a frame.
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Another thing, Could anybody tell me what is that in Lincolns head. I have thought of placing the coin in acetone to try to remove the back substance but I am afraid I would damage it since I don't know how to use acetone with coins.
Regarding myself I see it as an "S"!
Also the S shape defect on lincolns head, what is that?