Also known as Pholiotina smithii, Conocybe smithii is a small agaric fungus, almost visually identical to its relative Conocybe cyanopus. As the latter, it could eventually be transferred to another genus in the future.
Mildly hallucinogenic, this rather rare mushroom contains psilocybin and an unusual high amount of beaocystin. Giving its bluing reaction to bruising, it is believed to also contain psilocin.
Because it is difficult to tell apart from poisonous species of the Conocybe-Pholiotina genus, it is not a good candidate for entheogenic mushroom hunting.