A. W. Browning

No. 2
Obverse: Date about equally spaced, large 0. The stars are larger than in [Browning] 1. The two lower stars at left almost touch. The lower left star and curl are about three times as far apart as opposite star and drapery; upper left star and bottom of L are further apart than opposite star and top of Y, which is close to Y.
Reverse: In the value, 25 C., top of 5 is merged into eagle's tail, extending over first and touching second feather, the only reverse with 5 touching eagle's tail; C is close to eagle's tail, which is rather short and blunt; in the wing at right, foot of A rests on end of third feather.
Obverse die cracked in two places; from left edge across to hair, through two upper points of third from lower star; also through top of date and touching bottom of bust midway between 7 and lower right star, where it turns downward and extends to lower right edge. Reverse die cracked in two places; from upper left edge through top of first T in STATES, to eagle's wing at left; also from upper right edge through O in OF to second cloud from right.
This variety is rarer than No. 1, or No. 1-A.
Large date, large stars, first two almost touching.
Five berries, short branch.
Browning-2; Clapp-2; Duphorne-19; Breen-3890; Haseltine-2.
Rarity-3.
Obverse doubtless left over from 1805 without final digit; 1 lacking left foot, large 0.
Die States:
I. Perfect. Rare.
II. Crack, rim to drapery midway between 7 and last star. Reverse cracks, rim to O to cloud and from wing through bases of ST.
III. Crack, rim to third star to hair. First crack of state II extends leftward through top of date. Reverse crack, rim to T of UNITED into field, approaching wing.
IV. Reverse cracks meet in eagle's head. Most Uncirculated examples seen to date are in this state, or state III, where illustrations permit of certainty. Some of these may be named: NN 57:596, Kreisberg-Schulman 5/66:1943, Speir Estate:6 (III or IV?). Miles:882, Bergen:21.
Specimens are known with minor double striking. One showing it on reverse was ex Philip G. Straus Estate, NN 53:708, Bergen:22, State IV. One with double profile was ex a British collection, NN 54:304, Herbert Tobias, State IV, Uncirculated. The so-called "new variety" in WGC:30 (later Kern:1933), AU, "small stars, very thin leaves and date," sounds like close double striking of the same kind.
The mint report of 220,643 includes 80,300 delivered at the beginning of the year, doubtless from 1806-dated dies, as were part of the remainder.
Numerical Condition Census (RWM, Sr. [circa 1992]): 60, 60, 55+, 55, 50+, 50 (2).