Many memorial cents of the early zinc period have this 'ring' - it is caused by Die Deterioration...basically wear and tear on the die.
1974 cents do have two different designs. Compare a few using a loupe and you will find two different date styles.
http://www.thecentproject.com/sort1974.php
1974 cents do have two different designs. Compare a few using a loupe and you will find two different date styles.
http://www.thecentproject.com/sort1974.php



















