That's referred to as a "BIE" die break. It was relatively common on Cents, especially during the '50s. There used to even be collector's clubs for these, but they've fallen from popularity over the years. There are still collectors though, and you can usually get a buck or two for them on Ebay. Given the damage to your coin though, there likely would be no premium.
Sorry about all the questions my dad gave me a jar of his old wheat pennies to go through to see if anything good was in there
