It's a novelty item. Called a counterstamp coin. Done after it left the US Mint. Not a Mint Error of any kind. Click to enlarge picture.
If it looks silver then it was most likely plated and not struck on a Dime Planchet.. Collectors somehow lose or loose these things back into circulation.
Strange to see a 1975 cent called a bicentennial penny. Although, I suppose it was the last cent of the second century, so that's valid. Perhaps they used 1975 so it could be stamped in time for a 1976 distribution - maybe they couldn't wait for the 1976 before stamping it. Things that make you go hmm...
By the way.. FYI If you think your Cent was struck on a Dime Planchet it would be the same size, weight and thickness of a dime.. Think about it carefully
It’s a novelty coin. They produced millions of them for the bicentennial. It was altered after it left the mint and it’s a cent that has been plated if it’s silver colored. Photos would have been nice.
Philosophy of paddyman, "If it is not from dirt, it has no worth." Sadly, in your case he is absolutely correct. As usual, B-H-B...
Certainly it would be the same weight, but, since the cent collar is slightly larger, wouldn't it be just a tiny bit thinner than a dime and weakly struck?
Cool! But why does the pressure of being struck not push the planchet out to the cent collar? The copper nickel outer part is hard, but the pure copper inner layer seems soft enough to squeeze. The proof is in your picture, but not the explanation.