That's what it looks like to me, The extra metal on the bottom of the E of cent is of interest though
I don't believe that's extra metal, just displaced metal from the hit. The bottom bar of the E is the same length as the bottom bar of the E in ONE.
Hmm I saw that spot on the E, I was thinking PMD. Perhaps its something else though. I do think something looks weird about the left wheat stalk (might just be from the grease filled die >,<?). Also here's a picture of the obverse just for the heck of it