This is a private striking, possibly by Joseph J. Mickley, from dies sold by the mint as scrap in the early 1860s. According to Heritage, it combines the obverse from the 1808 BD-2 die with the diagnostic low date and 1 centered over two denticles with the reverse of the 1804 BD-7 that has a leaf pointing toward the left serif of the I in AMERICA but still separate, the lowest arrow even with the right upright of the N in UNITED, and the bottom of star 12 pointing to the right side of the B in PLURIBUS. Both dies are heavily rusted.
Examples are known as follows:
Silver with reeded edge J39/P6170. This is unconfirmed as all the listings from the 1800s do not describe the edge in their descriptions.
Silver with plain edge J40/P6175. About a half dozen are believed to exist including one in the Durham Museum.
Photo courtesy of Heritage.