This is an obverse trial, in lead, of the 1879 Morgan dollar from a cancelled die. According to Pollock, this is believed to have been struck from a Carson City die. A second lead striking along with a different cancelled die of this date were offered in Stacks 1/04 sales and reoffered as lot 9395 in StacksBowers 8/12 ANA sale.
Pollock lists an example in the American Numismatic Society whose genuineness has been questioned. This should also be compared to the John Pinches dies used on P5125.
An example muled with an "Odd Fellows" medal reverse and illustrated below was offered in Craig A. Whitford's 11/2002 sale leading to the possibility that these are modern strikings from a cancelled mint die struck outside the mint.
Photos courtesy of Craig A. Whitford Numismatic Auctions.