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This is almost certainly what's called a filled die error. That happens when a bit of grease or other crud gets into the tiny recesses of a die where the wording in incused. Given the number of cents struck every year, and the speed of the presses used, these errors happen more often than you might think.

However, with 2 letters missing it might be worth at least a quarter or so.

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Q: What is a 2000 penny worth with missing LI?
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