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Welcome to the forum. I've not heard of a "whizzed" steel cent, but it sounds like some post-mint damage. If that's the case, it's worth less than a normal steel cent.
-Sean
Search started in Sep 2011. 913,650 cents searched as of 9/24/13.
The steel cents were made from rolls of zinc plated steel. The blanks were punched out exposing the raw steel sides before being struck. Any steel cent that looks a little too glossy and has zinc coated sides has been re-plated. Most dressed up steel cents have been replated.
Whizzing a steel cent would probably damage the zinc, and I am not sure it is done, but such whizzed coins have a false surface detectible upon viewing.
They should not be glossy like a reprocessed cent. They should be slightly dull and not rough looking.
Richard S. Cooper Some have asked about my images I use, and I'm glad to say I've completed a DVD of these. Ask if you are interested. Newer members like these.
I agree that I have never seen a whizzed srell penny. Maybe it's just me but ever reprocessed cent I have seen always has some imperfections on it (why reprocess a unc one) and has that chromed look.
Rog
Whizzing usually leaves visible swirl marks, sometimes not to the naked eye, but they will show up under magnification. Never seen a whizzed steel, but I'm sure they're out there!
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