diff --git a/box/box_list.py b/box/box_list.py
index 048b014..00ca185 100644
--- a/box/box_list.py
+++ b/box/box_list.py
@@ -40,16 +40,17 @@ def __new__(cls, *args, **kwargs):
         # This is required for pickling to work correctly
         obj.box_options = {"box_class": box.Box}
         obj.box_options.update(kwargs)
-        obj.box_org_ref = 0
+        obj.box_org_ref = None
         return obj
 
     def __init__(self, iterable: Optional[Iterable] = None, box_class: Type[box.Box] = box.Box, **box_options):
         self.box_options = box_options
         self.box_options["box_class"] = box_class
-        self.box_org_ref = id(iterable) if iterable else 0
+        self.box_org_ref = iterable
         if iterable:
             for x in iterable:
                 self.append(x)
+        self.box_org_ref = None
         if box_options.get("frozen_box"):
 
             def frozen(*args, **kwargs):
@@ -101,7 +102,7 @@ def _convert(self, p_object):
         elif isinstance(p_object, box.Box):
             p_object._box_config.update(self.box_options)
         if isinstance(p_object, list) and not self._is_intact_type(p_object):
-            p_object = self.__class__(p_object, **self.box_options)
+            p_object = self if p_object is self or p_object is self.box_org_ref else self.__class__(p_object, **self.box_options)
         elif isinstance(p_object, BoxList):
             p_object.box_options.update(self.box_options)
         return p_object
diff --git a/test/test_box_list.py b/test/test_box_list.py
index 536520f..c59245e 100644
--- a/test/test_box_list.py
+++ b/test/test_box_list.py
@@ -228,10 +228,8 @@ def test_no_recursion_errors(self):
         a.list_of_dicts.append([{"example2": 2}])
         assert a["list_of_dicts"][1] == [{"example2": 2}]
 
-    def test_no_circular_references(self):
-        if sys.version_info >= (3, 12) and sys.platform == "win32":
-            pytest.skip("Windows fatal exception: stack overflow on github actions")
+    def test_circular_references(self):
         circular_list = []
         circular_list.append(circular_list)
-        with pytest.raises(RecursionError):
-            BoxList(circular_list)
+        circular_box = BoxList(circular_list)
+        assert circular_box[0] == circular_box