hi greott71, welcome to cointalk! There isn't any way that a steel panchlet would be hanging around for fifty years like that. Lincoln cents struck from 1982-present are zinc with a thin copper plating. The copper part came off, most probably from chemicals. Put a magnet next to it. Steel pennies are magnetic, and zinc ones are not
cookiemonster12 is right. However, that ultra thin layering almost NEVER comes off. Keep the coin- it's only a penny!!!
Also some planchets never make it to the plating process and are minted unplated. They are called Unplated planchets. Quote from Coin World "New in U.S. coinage, unplated planchets became possible in 1982 with the introduction of the copper-plated zinc cent (and briefly in 1943 with the zinc-coated steel cents). The zinc-copper alloy planchets are plated after they are punched from the strip but some planchets miss the plating process. Coins struck on the unplated planchets are grayish-white in color. Beware of cents which have had their plating removed after leaving the Mint. Although beyond the ability of a novice collector to detect, any of the authentication services currently operating should be able to distinguish between a genuine piece and an altered version." These will show a difinite luster as a new coin would have.