This is a fantasy piece made by using the regular 1870 two cent reverse die combined with the Standard silver quarter reverse used on J888-J893/P987-P993 and others. I believe the two cent reverse has the missing serif in the "D" in "United" which is believed to be a die used to create restrikes of various 2 cent pieces in the 1870s.
It was struck on a combined silver and copper planchet said to be native Michigan ore in Judd. The silver appears as streaks in the primarily copper planchet. These planchets were used almost entirely on 2 cent patterns which is probably why it is listed as a 2 cent piece as opposed to a quarter.
There is only one known ex Johnson (Nov 1898), Hall, Brand, Olsen, Farouk, Kreisberg-Schulman 2/60, Federal Brand 10/61 & 1/62, J.E. Drew, Simpson collection and it is illustrated above.
The pedigree is as noted from the Dr Hall collection notebook on the Newman Numismatic Portal and is shown below.
Photo courtesy of Saul Teichman.