1840 Large Cent

It's still a nice coin, but if the gouge is a deal breaker just toss it up on ebay and see what it brings. I've heard of putting it on the window sill to retone it.

Try to find some paper that hasn't been treated to get rid of the sulfur.
Cardboard may do it. Or a manila envelope.
Wrap the coin in it AND put it on a windowsill IN DIRECT SUNLIGHT.
Check it twice a month changing the paper each time.
The heat and sulfur should do the trick.

Thank you all for your opinions.

The reason I picked up this coin, was because I liked the
looks of the coin, except for the bright hit.

I have a Half Cent I have been working with for over a year.
I put it in a manila envelope or put it on a piece of oak,
and leave it out on the picnic table on the really hot days.

It has gone from a bad orange tone .. to a more normal look.

I may have to add this coin to the process.

Nice Large Date 1840 N-6 R.1.
Too bad about the recent hit. It's still a nice coin. My only advice is to leave it on a sunny windowsill for about a month and hope the hit tones a bit. I'll say VF-20 net graded to F-12 for the hit.
1840 N-6 R.1 20/12.