This is an obverse die trial, in copper, for the 1854 with arrows design. This piece has the entire date and arrows recut over an original 1853 with arrows die. Was the entire date with arrows together as a single punch ?
It appears to be unique and was part of the materials purchased by the Library Company of Philadelphia from Maxwell Whiteman.
It is listed as inventory #16. A listing for one in the 1958 ANA sale by Pollock and Taxay appears to be an error as I couldn't find one among the many splashers in that sale.
Photo courtesy of the Library Company of Philadelphia.