Exasperated with oxidation speed in fine old penny (10)
I believe the answer is:
frustrated
'exasperated' is the definition.
(exasperated means very frustrated)
'oxidation speed in fine old penny' is the wordplay.
'oxidation' becomes 'rust' (rust is a kind of oxidation).
'speed' becomes 'rate' (the speed at which something happens).
'in' is an insertion indicator.
'fine' becomes 'f' (abbreviation e.g. condition of old coins, books).
'old penny' becomes 'd' (abbreviation for the pre-decimal penny).
'rust'+'rate'='rustrate'
'f'+'d'='fd'
'rustrate' going inside 'fd' is 'FRUSTRATED'.
'with' is the link.
(Other definitions for frustrated that I've seen before include "Prevented from progressing" , "Disheartened" , "Foiled" , "Having a sense of discouragement and dissatisfaction" , "Thwarted" .)