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The only steel U.S. cents were dated 1943, and were made from that metal to save copper for use in ammunition.

Your coin is probably plated, which means it's worth only one cent. Two other slight possibilities are:

(A) someone dipped it in acid, revealing the underlying zinc core; zinc has a silvery color. Again, one cent.

(B) it was never coated with copper at the Mint. This is a major error worth $75 - $100.

The only way to be sure would be to have it examined in person.

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Q: What is the value of a 1989 US steel penny?
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