This 1934-P Peace Dollar appears to be a VAM 1-A ("Semi-circular Die Scratch Obverse"). However, what's up with the "N" and "G" in "IN GOD"? Is this post-mint damage, or the result of a damaged die, or something else?
I always thought those circular scratches were from a counting machine, but, if this is a raised die scratch,as you say, then I can only conclude this to be pmd. Would definitely study this coin for 5-10 mins under 16x to see if there are more clues anywhere else on the coin.