Not very knowledgeable on such matters but I looked at my other 1974 and was not like that at all. Is this just a common worth nothing or something more? I have pic of both 1974s and R on one seems like it was smashed and it rolled into the U but I'm fairly confident that wasn't done after it was minted.
As above, the R took a 'hit' or contact mark. They're also called bag marks, because in any bag of coins, new or used, there will be hitting, smashing, contact with other coins (or anything if it's been in circulation) which leads to those marks.
