If you're referring to a U.S. penny, it's almost certainly a privately-made novelty item.
There are many companies that use metal punches to add pictures or Words to ordinary coins - state outlines, birthdates, etc - and then sell them as collectibles or promotional items.
Usually the coins come in sets and there is a niche market for complete sets. Individual ones that have been removed from their sets are considered to the altered coins and have no extra value to collectors, however.
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