The following is excerpted courtesy of American Numismatic Rarities. The full article can be found on their website.
"American Numismatic Rarities of Wolfeboro, New Hampshire is please to announce the new discovery of a significant rarity within the half cent and pattern series, a 1795 Cohen-5a half cent struck on a cut down copper die trial for a 1794 half dollar. The copper half dollar die trial was struck from the Overton-105 die marriage, then cut-down for use as a planchet. Only one complete 1794 half dollar die trial in copper (Judd-17) is known, permanently a part of the National Numismatic Collection at the Smithsonian Institution. All 1794 half dollar die trials in copper in private hands are actually known as undertypes on 1795 half cents. This piece brings the total of such pieces known to 5."
"The coin was discovered by Christopher Young of Chesapeake Bay Rare Coins, Spencer, New York, and brought to ANR Director of Numismatic Research John Kraljevich for attribution of the undertype. Working together, Young and Kraljevich discerned that the discovery was over a 1794 Overton-105 die trial. 1795 half cents are known struck over spoiled error large cents and, most commonly, Talbot, Allum, and Lee tokens, but the clear presence of the eagle’s head and wing in the obverse field of the half cent quickly eliminated both of those options. “Enough evidence of the undertype remains to allow for positive attribution, making this only the second half cent known to be struck over a 1794 O-105 die trial,” Kraljevich said. “A coin like this really bridges the gap between a rare half cent and a rare pattern, and it should bring hope to other would be discoverers that new things really are out there waiting to be found.”
Photo courtesy of American Numismatic Rarities.