1921 wheat penny (no mint mark)

Hello, I found this 1921 wheat penny. On the reverse it is peeling? What does that mean? Thank you for all responses.

 

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That is called a Retained Lamination.
http://www.error-ref.com/retained-lamination/

And some of this to.
http://www.error-ref.com/improper-alloy-mix/

 

Nice lamination error. You can read up on it here:
http://www.error-ref.com/retained-lamination/

 

Is that a good or bad thing?

 

That is a very nice and prominent lamination error. To the best of my knowledge, this is a common error for the Lincoln Wheat Cents of the 1920s.

 

Thank you.

 

It is cool! I have one but it is less noticeable. It took me years to find it.

 

That's a pretty cool error! I have yet to find an error coin, but I'm hopeful with all the roll hunting I'm doing. Did you get it in change or roll hunting?

 

Roll hunting.