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What is this?

Hi all, I'm new here and need some expertise to find out what this is in the"O" on my recently purchased morgan. I looked in the Red Book, but can't find anything to explain it. Notice that there is also a die-break leading to the bottom of the "O", but does not go through it, an then passes out the other side. There is also a planchet error at the top reverse. Three errors on the reverse, Hellooooooo!

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