From Penny Arcade Magnet: What is it?

[hammerrob]

I got this off the TDBank Penny Arcade magnet ... it's the exact size of a US cent, and it's obviously magnetic. Clearly, it weighs a lot less than a cent. I figure if anyone knows what it is someone here will:

[highroller4321]

It is a magician coin.

[stonewallrabbitry]

A dime fits inside of it making it look like a dime on one side and a penny on the other, I found one in a bank roll

[hammerrob]

I see, a dime does fit inside it ... I guess there must be a trick where you make a dime 'disappear'. I knew someone here would know what it was!

[Morsecode]

I found one on the Arcade magnet, too.

And now for my dumb question: why does it stick to a magnet? I assumed these were milled from actual cents...?

[Gobirds66]

I found one of these while sorting about two years ago. I took it to my LCS and he scratched his head. He thought it was prepped to be a two headed (or tailed) coin but he said it looked too clean to be milled out.....so he was a little confused. He is a pretty old guy and been in the business since the 50's so I figured he would have known what it was....but he was not 100% sure. He did say that it was some sort of novelty and not a Mint Error since it was magnetic. I kept it, just because I could. Now I know. I should have posted it on here years ago....