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Thanks for the confirmation. It's what I suspected as well. Was this a common school project or something?
I seem to recall there being some sort of science class thingy where a coin is reduced like this but I'm not sure. Thought I'd post it and see if it rings any bells. Thanks for peeking! COME ON SPRING!!!!
Here's a link to the science class thingy (or at least A science class thingy) on shrinking coins and other neat stuff done with electricity. It might or might not explain your penny, but it's interesting regardless.
Bert Hickman's TeslaMania Web Site - Tesla Coils, Lichtenberg Figures, and Quarter Shrinkers!
Hey, not trying to sidetrack, real glad you posted your find. Here's some quick shots. Couldn't find the silver dimes, even wafer thin I probably sold for scrap. Glad you got me to find these, I didn't remember the Indian!