This is a reverse die trial, in white metal, of Paquet's reverse design used on regular 1861-S production strikes and also on J272A/P321.
For additional information on these, please refer to the article on the 1861 Paquet dollars in the ANA Centennial Anthology.
Only 2 are confirmed and both are ilustrated above. The first, in color, was part of the materials purchased by the Library Company of Philadelphia from Maxwell Whiteman.
It is listed as inventory #40.
Photo courtesy of the Library Company of Philadelphia.
The second is the former Bowers and Merena 11/85 Kosoff piece where this scan was taken.