William D. Smith was established in nyc and"utilized worn-down, thick planchet big pennies as his canvases and re-engraved that the whole design of every side (in addition to the border ) with incredible ability," based on Stack's Bowers Galleries.
Smith's Wreath pennies are most often encountered now, however he reworked three kinds of 1793 pennies.
Stack's Bowers rated this one Extremely Fine 40, calling it"one of the most bizarre examples understood, both in terms of stylistic implementation and surface quality.
"All these'Smith Counterfeits' have been ever since W. Elliot Woodward first clarified one in an 1864 market catalogue, long after they were created," that the cataloger writes.
The handsome bit realized $3,120.