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Your eyes are sharper than mine. I took a smaller magnet to it... and its only the rim that is magnetic... the coin itself is not magnetic... so at sometime someone has plated this and attached a very fine band around it. Seems like a lot of work for a penny... maybe its was made as some sort of sou...
I've just dug through my 45 year old piggy bank and come across a 1964 Canadian penny that is magnetic, (like a nickle), and the same color as a nickle. It's stamped as a penny... but the edge is a slightly larger and rounded. Has anyone ever heard of anything like this?