Yes, it is copper plating, with what seems to be a healthy epoxy clearcoat protectant. I haven't seen any premature wear, but I think its a relative newcomer, and possibly the jury is still out. I'm not afraid to use it, and feel much better about using it than some other available platings.
I have made and sold a couple with no negative feedback (to date []) but someone here made one and if I remember correctly after carrying in his pocket a couple or three weeks he said the finish looked awful.
I have a copper Sierra that I carry on a daily basis and it looks pretty bad! Now, I am a custom home builder that actually gets his hands dirty. My pen is always with me and has been abused for the most part so my results my be on the extreme side.
The Alumilite prickly pear cactus blanks that it is made of, however, looks just as nice as it did the day it was first made![]