Note the silver edge, so what I have here is a copper-clad fake, right? Why does it have such an aged appearance? And what is the silver metal underneath?
That may not be copper. You can find out by taking a toothpick and lightly run it over a chosen area of the coin. You might see that the end of the pick has the same copper color on it. Grit, grime, age, and environment have a lot to do with it. The metal beneath could be lead, base, cast iron, or other metals used during the time. it could be a copper overlay although I doubt it! My opinion only. Thanks for sharing.
The vast majority of them that show up ”in the wild” are copies. A local dealer had me come in to authenticate one. It was a copy. I have had one chance to buy a genuine example. It was very low grade, and I had no interest. The price was $3,000, but it was 25+ years ago.