JWAG: Stainless is not a coating but a through and through condition of the metal. They stir chromium in with the molten steel I think. So grinding some off shouldn't expose anything to rust more than the original surface. There are different qualities of stainless, all susceptible to rust at some point, less as you approach "surgical stainless".
OCICBW
Stainless steel is a mixture of things but it has a high nickel content in addition to chrome.
The most common grades are 304 and 316.
316 is used on marine applications because it has a higher molybdinum content and is more corrosion resistant.
When bolts and screws are formed they can become slightly more magnetic from the forming process.
If you want to sand the head of the screws or bolts that is easy to do.
Just use a fine grid sanding pad. It is very common.