Zinc rot? Looks like it took a bath and the zinc reacted and bubbled up or somethin. Or its just dirty.
this is pretty much normal for a cent coin made after 1982. they are made out of zinc with a super thin copper plating and a number of things can cause the coins to get blisters on them. the zinc core can start to corrode and push the copper plating up and sometimes the planchets are defective to begin with because the copper plating didn't stick to the zinc core very good. another thing that causes them to do this is exposure to the outside environment. If anyone looks thru very many bank rolls of cent coins these are easy to find.