This is one of the most famous coins ever made in the United States. It is a presentation piece made from backdated copy dies circa 1834 for inclusion in proof sets of that year as gifts for the heads of nations in southeast asia. The famous King of Siam proof set is still intact and is shown below. Photo courtesy of Superior.
These proof sets included a newly made 1804 eagle J33 as well that Judd included in his book but left out this coin which is of similar fabric.
8 examples are known which is double the number of eagle coins. Are some of these later strikings ?
The story of the 1804 dollar has been written and rewritten throughout numismatic history and is beyond the scope of this website. Interested parties should read Dave Bowers "The Rare Silver Dollars of 1804" which is the most recent book on the subject.
The illustrated example is the Watters, V. Brand (journal #86957), A. Brand, Child-B/M 8/99, Pogue example and is the finest known grading PCGS68 although the strike is a bit weak. It is believed to have been part of a proof set presented to the Sultan of Muscat.
Image courtesy of Bowers and Merena.