Have you studied, with stacks of Morgans and/or Peace Dollars (P$) in hand, the VAM system? 1st..... EVERY Morgan or P$ is a VAM, every single one.
It's the faint ghostly letters.. look above GOD WE Try holding the Cent at an angle in different lighting. You might see it better.
I saw those but, in the case that the planchet was going under less stress than being within a collar, it expanded and therefore left some distortion to the periphery's. The date also shows some die deterioration, along with the rev. memorial.