The famous 1827 restrike quarter in silver made by the mint for sale to collectors. Mint officials realized early on that there was money to be made by restriking various rarities.
These were struck from the regular obverse combined with the reverse of 1819 Browning 2. Note the heavily rusted state of the dies especially by the 25C on the reverse.
Somewhere near 15 examples are known. Mint Director Henry Linderman had 2 in his personal collection and was likely responsible for their striking. Virgil Brand owned at least 5 and Col Green at least 4. It is unclear if there is any overlap between these.
Photo courtesy of Superior.
These were believed to have been struck along with their copper counterparts J48/P49 in the 1870s. They were unknown prior to the mid-1870s.
Judd and Pollock only list the copper "off-metal" examples.
These restrikes are not to be confused with the two silver examples overstruck on early bust quarters, the Eliasberg and James A. Stack coins which were struck much earlier. These have much sharper strikes, sharper than any originals or any of the later restrikes. I believe these to be restrikes made in the 1830s to test a close collar or steam press whereas Karl Moulton believes that they actually represent the first 1827 quarters. These are now listed as J48A. The Eliasberg example is illustrated below courtesy of Andy Lustig.
Notice the lack of rust and better striking quality on this piece as opposed to the one at the top of this page.