1847 Large Cent 7 Over Small 7

Congrats on the great find. It certainly looks as if it is an overdate. Hopefully an EAC person can give you an accurate attribution. The RedBook is not known for accurately describing certain varieties but, they do like to hype up common coins/varieties thus driving up or inflating prices on readily available material. As for the crud, on a piece in this condition and price point, I would leave it as it is (unless you will enjoy it more cleaned up) b/c removing the grim is not going to make it anymore desireable or valuable.

It looks like an N-2. Here is the description from the Grellman book:

"OBVERSE: Date repunched, clearest over top of 7. The so-called "Large 7 over Small 7" variety. The repunching is visible under the peak of the 1 an dover the tops of the 4 & 7, and weakly on the 8 on early strikes. The 7 is strongly punched into the die and appears unusually fat. Lump in field below star 13. Several points and short lines down to right from main curl over inner curl. Thin line down through center of R. Earliest also has fine lines to left from dentils at star13. The lines from the dentils fade and disappear, the ones at the inner curl become weak, and the lump under star 13 fades but remains visible. The repunching at the top of the 7 remains clear.

REVERSE: Earliest has fine polishing lines down to right from leaf just below C in CENT, plus others at same angle from left top of T in UNITED through adjacent I. These lines fade and disappear rather early. Cracks develop, first at MER and later at ED. Often seen with Strike Doubling on right side of reverse.

RARITY 3"

Quoted from The Die Varieties of United States Large Cents 1840-1857 by John R. Grellman, Jr.