The intense lighting of the right side of the letters and deep shadow on the left distort the images.
The coin strikes me as having been "reprocessed" (replated), and on such coins "doubling" is often visible because of it.
The picture appears to show a repunched MM.... the lighting may be deceptive though.... look forward to some better pictures...
Thank you... I realize that is probably the best you can do, but sorry, it is not clear enough to make an identification.
I have a similar looking coin that looks just like yours, color and all, except that it's a 1944 but it's not steel. It doesn't look like copper either, could it be all zinc?
I have a similar coin, color and all, except that it's a 1944. However, it's not steel. Could it be all zinc? There are no signs of copper.
If it is 1944 and looks like steel...check it with a magnet (or did you already?).... if it is not magnetic, but looks like steel, it may be plated.... there has been a lot of that... since a real 1944 steel is worth a lot of money. Likely plated copper...
He already said it's not steel, so naturally it wouldn't stick to a magnet. It could be Molybdenum. Molybdenum isn't magnetic.
Several comments to late, I was going to suggest the magnet too. Wonderful find, can I see pictures of it. My M in America is off, but with a camera phone best pics I can do. It could be just wear.