There is quite a variety of these.Most are really quite ugly when up close. The Morgan claims to be .925 silver like it would make a difference at .24 grams.
In reality, yes it is but if you look at the original posting this Cent is 3/16's of an inch. It's a novelty coin made for fun.
Depends on how you define "smallest". By diameter the type 1 gold dollar is the smallest 13 mm 1.67 grams. By weight the type II and III 3 cent silver are the smallest 14 mm .75 grams. The smallest diameter coin the US mint has made was the 1904 Panama 2 1/2 centesimo 10 mm but 1.25 grams.
I've had it for as long as I can remember. I think the 'coin' is plastic, though. Get your own, if you like https://www.ebay.com/itm/Lot-2-NIXO...662466?hash=item4d90d99d42:g:LKYAAOSwnC1ceUn1