My initial thought was rust, which I won't rule out. However, the reflective properties of the copper like substance do make me think that there could be something else going on. Weight shows at 2.8 grams.
It is rust. The planchet is steel and was plated with zinc. The zinc has peeled off and now the steel is rusting. Common for this year when they are circulated. Thus when this happens a lot of these get cleaned and re-plated/reprocessed which ruins the collecting value for these. But that is what has happened to your coin. There were just a few that year that were copper.
I'll have to take a closer look under magnification and see if Burdette's book has info on a possible experimental plating of this kind. Chances are slim, I admit, but I feel like being stubborn today haha!
This is true but San Fransisco and Denver I believe had a small amount of participation with the trials. So it was my thought that the possibility of one of their mint marks making it onto a possible trial piece, however not likely, could happen. I of course am not going to bet the farm on this coin or that theory though lol!
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