This was designed by Peter Getz. The piece is also listed as Baker 33 by collectors of Washingtoniana.
It is unclear what its true purpose was as it was struck several years later than his two half dollars designs P5001 and P5005.
It was overstruck on a Spanish or Mexican eight reales coin and is unique. It is ex Drunheller, Kelly, 62 ANA, 1975 Kagin sale, Bowers and Merena 9/89, Stacks 4/96.
This kind of item is generally not collected as a pattern but is instead collected by colonial and Washingtoniana specialists.
Photo is a scan from the Bower and Merena September 1989 sale.