You didn't include the name of the issuing country but based on the description it's almost certainly a Bermudan "hog penny". The Bermudan dollar is linked 1-to-1 with the American dollar so your coin, if you found it in change, is only worth 1 cent.
No US 1976 Lincoln cent or any other year is made from silver.
Face value only.
Not much. Modified coins have no collector value.
Please be more specific, describe the error in a new question.
They didn't make any special penny that year like with the dollar, so it is only worth its face value, $.01.
There's no way to give a specific answer without knowing the coin's denomination, but anything from 1976 is still worth face value (except for the penny, which is worth about 2 cents for its copper content).
A 1976 penny, specifically a Lincoln Memorial penny, is typically worth only its face value of one cent if it's in circulated condition. However, if it's uncirculated or in excellent condition, it could be worth a few cents to a dollar. Special varieties, like the 1976-S proof penny, can be worth more to collectors. Overall, the value largely depends on the coin's condition and any unique characteristics it may have.
Only dollars, half dollars an quarters dated 1776-1976 are "Bicentennial" coins. Dimes, nickels and cents are face value.
It's the same size as a US cent with a picture of a wild hog, the date, and the words ONE CENT. Please see the link below for an image.
They are worth about 6 or 7 dollars the last time I checked. I have a bunch of them. Quarters are worth about 15 dollars. I once had a penny with a nickel stamped on it, I sold it for $80.
The US did not make bicentennial pennies like they did with the quarter, half dollar, and dollar coin.
The U.S. Mint never issued such a coin. In all likelihood you have a privately-issued commemorative piece. Most of these small items sell for at most a couple of dollars, and the market is fairly limited these days. What you have is a normal 1976 penny that somebody has plated with either silver, nickel, or zinc. Now a novelty item it has no collector value.