This is an 1885 eagle obverse die trial from a cancelled die. These were struck in various metals.
"This piece is one of only about half a dozen various pieces struck by the late Russ Logan from the original cancelled die. (Logan was a well known and highly respected student of the minting process.) Three of these (one each in copper, a white metal, and brass) found their way into a collection recently purchased by a friend, and he has consigned them to me. Interestingly, another was struck on a Bust Quarter, which is now plated in Steve Tompkins' new book on the series."
The illustrated examples are in silver, struck on a half dollar planchet, with both sides shown below
and lead - obverse only shown below.
The silver piece is courtesy of Michael Byers and the lead piece was offered as lot 2475 in Bowers and Merena's October 2000 sale.