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Issue4742 is similar issue:
>>> source = b"# coding=cp1252\n\x94 = '\x94'".decode('cp1252')
>>> compile(source, '<test>', 'exec')
Traceback (most recent call last):
 File "<stdin>", line 1, in <module>
 File "<test>", line 0
SyntaxError: unknown encoding: cp1252
The real error here is masked; just before the exception is set, there
is a pending
SyntaxError: 'charmap' codec can't decode byte 0x9d in position 18:
character maps to <undefined>
It seems that the source internal representation is correct utf-8, but
this is decoded again with the "coding=" cookie.