You are partly right, but...just because it attracts a magnet...does,not mean it is,nt "copper"...see pic of "copper" 2 pence piece...looks like copper,if left out in the rain..it goes green,..but it still attracts a magnet...how come,you may ask....well, its made of cupro-nickel....with these percentages... 97% copper, 2.5% zinc and 0.5% tin....therefore, this Inro...could well be made of copper,