The following is at first glance a 1912 hub trial in copper. The following description is from Stacks-Bowers 3/12 sale.
Weight: 208.1 grains, Diameter 26.1 millimeters. Possibly a hub trial, possibly made outside the Mint. Produced in copper with light brown surface and traces of bright orange-red. This identical item was offered in Bowers and Ruddy's Rare Coin Review #39 from July 1981, with the following description: "Incuse impression of a regular Liberty type nickel obverse, on a roundish, irregular, thick copper flan. Reverse blank. Presumably some kind of hub trial. Unlisted in Judd, and we have never seen another. Impossible to grade, this is more or less as made, though much toned up and tarnished. Much of the obverse hair detail was not brought up when made. Curious and interesting item, and as noted, unlisted.
When examined and offered in our Pennsylvania Cabinet Collection in 1997, Q. David Bowers stated that he had not examined the piece earlier when offered in 1981, and at the 1997 offering tends to believe this piece was made outside the Mint. This item is offered as a curiosity.
From our (Bowers and Merena's) Pennsylvania Cabinet sale, November 1997, lot 1385; earlier our (Bowers and Ruddy's) Rare Coin Review #39 circa 1981..
It is more likely a squeezing of a coin into a softened copper planchet. We are hoping for more study of this piece before its possible inclusion in the next edition of Judd.
Photo courtesy of Stacks-Bowers.