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Only 95% copper, with 5% zinc.That is a 1969 copper penny minted in Denver.
Not very specific, but Jostens makes class rings and other school related jewelry. So it appears to be a pendant awarded for some ISU intramural event.

That is a 1969 copper penny minted in Denver.
Red so not Illinois (Orange) and it is manufactured by Jostens.ChatGPT answer
Has "INTRAMURALS" on the red letter I on front and "WARD" on the back.
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I purchased that auction.A Google search shows 3 of these were auctioned off recently. Did you buy them or did a bunch of these just hit the market for some reason?
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For 2 dollars why the hell not.I purchased that auction.