I’ll have to take it out and look. I’ve had it for 15 years and this is the first time I noticed it was there. If not for this thread it would probably go unnoticed for another 15. From the line on the rim I would say it’s not raised.
The line above the F suggests that it is recessed. The one between the ES looks almost like it is raised.
1987 Kennedy Half Dollar. Only issued in Mint and Souvenir sets (i.e. not for circulation). Of all of the Kennedy Halfs, 1970-D, 1987-P, D and 2002 and beyond were the only Kennedy's not issued for circulation. Sorry for the poor picture.