Obviously a fake. Doesn't look anything like a real cent. The style and positioning of the lettering is all wrong (the O's and C's in ONE CENT are way too round, and USA is a completely different font), and the fact that it is magnetic is a dead giveaway.
The hollowed out side makes me think it could have been either some kind of Magicians coin, or possibly decoration for something. Either way, the coin itself was not ever a product of the US mint.
its part of a Magicians coin, it has been hollowed out on a mill. The other half probably looked like a dime (or another tails of a cent) and it fit inside that one
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