What's your thoughts? To me it looks like a small rim cud on the reverse of an IHC. 

It looks like it may be a huge rim nick, but I hope not.

Are you talking about the rim???

What does the edge look like on that area? Post a picture of that too

Seems cudlike

It looks like a cud, but I would have to examine the edge and the obverse to determine that it isn't a rim ding.

Honestly I couldn't tell if it was a nick on the rim or a small rim cud

I'm not sure with out the coin in hand. Cud or PMD. I go with cud with out holing it. Good luck.

Looks like it happened after minting to me. I am no expert, but I am going with post mint damage. 

Some of the metal is displaced, so I think it is a large rim nick