From the looks of the rest of the coin, it is a die chip where the "peg" that should have been the hole in the 4 finally broke off.
It looks like a circulation hit. Not a die chip. Just damage IMHO. I call it circulation smooshiness.
I find it very interesting that some of original shape of the 4 is still visible, even the triangle inside the 4. There is also no damage to any area around the date.
I vote broken die post. There seem to be others on HA and PCGS in various states. If it's on the die, there's more out there.