Correct me if I'm wrong please but the steel Lincoln Cents had a zinc coating put on them. Pretty sure the black color is that zinc having reacted with something environmental making it turn black.
I have several zinc world coins that are now black with age.
Steel, untreated(not stainless) will turn black, think of bar stock pieces. This has lost all the zinc coating, but because of circulating hasn't fully rusted, or the rust has been worn off.
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