I am continuing to search through my friend's collection and came across this 1943 D Steel Cent. Not sure why it has the strange coloring. Any thoughts?
Like so many steelies, it was plated to give a "mirror" finish (destroying any numismatic value), then sold in sets at outrageous prices. The plating on the obverse either flaked off or the coin was improperly cleaned prior to the plating process, leaving a contaminated area which didn't allow the plating to adhere properly.
Here's a little more info on the '43 plated cent: http://coins.about.com/od/uscoins/f/chrome_penny.htm