It is 100% copper.
The first Indian head cent was issued in 1856. A U.S. cent dated 1821 is a LIBERTY HEAD large cent. Most show heavy wear and are valued at $15.00-$40.00 for average circulated coins.
It was still commonly called a penny but was also referred by its formal name as a cent. Today, collectors call the cents made prior to the flying eagle cent in 1856 as "large cents" as they were about the size of a half dollar as opposed to the small cents that circulate today.
Large cent is equivalent to rectangle
You don't have a large cent because the last large cent was made in 1857. Any US cent dated 1863 should be an Indian Head cent. What you might have is a privately made token or something of that sort because it is not a US mint product if it is a large cent or not an Indian Head Cent.
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Crack.
There were three different types of Large Cents minted that year: a Flowing Hair Large Cent, Chain Reverse; a Flowing Hair Large Cent, Wreath Reverse; and, a Liberty Cap Large Cent. What coin do have?
The United States first minted the large cent in 1793.
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eBay
This is a Coronet Large Cent. In decent condition $40 to $50...In excellent condition $1000 to $1500