for a while I thought it was a S-261 and was pretty excited. for those that dont spend all their time on large cents - S-261 has the same reverse as this coin but the obverse die is the one that was used to make the 1804 restrike. the alteration is pretty good and not too far off what they came up with for the 1804 restrike. id have been pretty interested in trying to buy it if it was a S-261.
man...i cant believe that one got past them. they missed the easy tell for 1804 cents. thats pretty embarrassing for the premier third party grading company. the first thing to do with 1804s is to flip them to check the die alignment. a real 1804 has the O in Of opposite the 0 in 1804. its a unique die misalignment and something most counterfeiters miss. this trick will catch every altered date 1804 cent. for less than the cost of buying back this coin PCGS could send some of their graders to take my class at the
ANA summer seminar. I would be happy to teach them a couple tricks for identifying this kind of work.