I can't seem to find anything like this and I don't really know what to think of it. I found this 1988 in in circulation and the reverse says "AMER1CA" as well as some lines under "ONE". Pretty neat find, I was just hoping to find out anything at all about it.
I think those are "plating blisters", where the copper plating on the cent bubbles up from the zinc core. Others here know more, and should chime in soon. Welcome to CoinTalk!
As above but more importantly, you must ask yourself, how could a 1 possibly get there. It can't. The dies are inspected before they go into production and this type of thing would never be allowed to happen. But then again, look at all the varieties that came out in 2009, someone was asleep at the wheel when those happened or someone gave the order to let it happen to garner more interest in that special year or it would have been too expensive to recall all of those faulty dies.
