This penny says 1917. But must be a misprint. On the reverse is the Lincoln memorial. How did that happen?
No. You can clearly see where the top of the 7 used to be on your pic. As @paddyman98 said, it was hit. Copper is a soft metal and is susceptible to deformation.
Additionally, the 1's used in the 1970s did not have serfs. See the difference in font between the first 1 and the so called 'second 1'?