1967Silver double reverse penny

Hi I received this In an auction Lott, would it be a novelty item or could it be an error coin?

I would say hand crafted, novelty, "magic coin".
There are threads in here about them, in the past.

Agreed, hand crafted. The answer to how it was done is in the third picture.

Look close to the edge - there is a slight gap.
So someone with engineering skills drilled out most of the obverse with the portrait.
Just enough to leave the rim intact, and just deep enough to not go through to the reverse.
Then a second coin had just the edge removed, and the obverse sliced off.
That thin slice was then glued into the hollow of the first coin.

...and then silver plated the whole thing.