This is an obverse die trial of the famous 1804 restrike cent struck in white metal. This is actually an altered 1803 die used on Sheldon 261. It is believed to have been done by or for Joseph Mickley from dies sold as scrap.
As a die trial, only a single example is confirmed ex Parsons (H. Chapman 1914), Shinkle (Morgenthau 4/32).
Photo is a scan from Bowers and Merena's 3/97 sale from a J28/P6055.