Get rid of your copy of 'Make millions with pocket change'. Look at coppercoins.com and lincolncentresource.com for accurate info on Lincoln Cent errors.
Its lamination on the coin. Value is minimal however having said that the area is interesting, it almost looks like the top of his head is peeling away.. As for Rickmp remark about the book. I think the book you are referencing is Strike it Rich with Pocket Change. I have had MANY people approach me about coins that indeed they have found in circulation because of that book. I actually have coins that are featured in that book and I also happen to be good friends with the author and he is a very well respected member of the numismatic world.
That is a lamination error. It happens when an impurity in the copper causes part of the planchet to seperate from the rest of the planchet. Some people do collect this type of planchet error. How much its worth depends on who is looking to buy as there are no set prices for these kinds of things, maybe a few bucks to the right person. Richard