Yes sir. That is PMD. Happens often on copper cents because copper is so soft and displaces when it is hit.
Here is another example that showed up in one of my rolls of Morgan’s. This date was hit in such a way that it looks like it is dated 1903. Problem is that would be just this side of impossible. All the 1903 Morgan’s were stored in bank vaults and released to collectors at a much later date. Almost all 1903 Morgan’s are uncirculated. A date that has been hit over its life can present itself in some very odd ways.
