Looks like a doubled date or clash marks from the TES of STATES on the reverse. Is there a mint mark on the reverse? If you could add a full reverse picture, that would help identify the VAM. You can check out this website. It will help identify the VAM number. http://www.vamworld.com/Morgan+VAMs+By+Date
Check out 1888-P VAM 4 (Hot 50). Scroll down to the full size obverse picture. This looks like what you have for the date die crack with the chip. This is not a doubled die or clash, as I thought above. Also, the reverse of yous also has the die crack through the TAT in States and the line from the wing up to the N in IN. I can't tell from your photos if the reverse lettering is doubled. If it is, this is a good bet. http://www.vamworld.com/1888-P+VAM-4