Coin

50 Cents / ½ Dollar "Capped Bust Half Dollar" (1812) — United States

United States • 1812 • KM#37, PCGS#6086-6088, 6090-6097, etc.

50 Cents / ½ Dollar "Capped Bust Half Dollar" (1812) — United States

Overview

A silver 50 Cents standard circulation coin of the United States, known as the 'Capped Bust Half Dollar'. Minted in 1812 with a mintage of 1,628,059 pieces. Features the bust of Liberty facing left on the obverse and an American Bald Eagle on the reverse.

Specifications

Country
United States
Year
1812
Composition
Silver (.8924) (.1076 copper)
Weight
13.48 g
Diameter
32.5 mm
Thickness
1.7 mm
Mint
United States Mint of Philadelphia
Shape
Round
Technique
Milled
References
KM#37, PCGS#6086-6088, 6090-6097, etc.
Issuer
United States

Design details

Obverse

The bust of Liberty, facing left wearing a cap, which is referred to as a Phrygian or Freedom Cap, a symbol of the American Revolutionary War. Liberty's hair is curling and flowing gently downwards and a small part of her dress can be seen just below the neck. There are seven stars in front and six additional stars behind, representing the original thirteen states in the Union. The headband carries the inscription LIBERTY, and the date, slightly curved, is seen beneath the portrait. Script: Latin Lettering: 1808 Engraver: John Reich

Reverse

An American Bald Eagle, with wings spread and a bundle of arrows and an olive branch in its claws. A scroll above the eagle includes the motto E PLURIBUS UNUM, and nearly fully around is the country name. The denomination, which is expressed as 50 C., is below the eagle. Script: Latin Lettering: UNITED STATES OF AMERICA E PLURIBUS UNUM 50 C. Translation: United States of America Out of Many, One 50 Cents Engraver: John Reich

Collector insights

  • Design heritage: John Reich is credited as the designer for the Standard circulation coins series. Designer attribution helps distinguish this issue from later restrikes or unofficial copies that reuse only the motif.
  • Struck at: United States Mint of Philadelphia. Confirm the mintmark on your example before comparing prices — same-year issues from different mints often trade at very different levels.
  • Mintage vs. survival: A moderate mintage of 1,628,059. Grade rarity is usually the driver of value here — mid-grade circulated pieces are common, but original-surface uncirculated coins can command a strong premium.
  • Precious metal content: Silver (.8924) (.1076 copper) — bullion value provides a price floor, and many circulated examples were melted during the 1979–1980 and post-2010 silver spikes, reducing the surviving population.
  • Catalogue reference: Listed as KM#37, PCGS#6086-6088, 6090-6097, etc.. Use this reference code when cross-checking auction archives, dealer inventories, and standard printed catalogues.

Curator Insights

Historical context

The 1812 Capped Bust Half Dollar was produced by the Philadelphia Mint during the onset of the War of 1812, a period of significant economic and geopolitical strain for the young United States. Despite the conflict with Great Britain, the half dollar served as the primary instrument for large commercial transactions and bank reserves due to the discontinuation of the silver dollar in 1804. This year represented a period of steady production for the denomination to meet domestic demand for high-value silver coinage.

Design heritage

Designed by John Reich, a German-born engraver, the obverse features Liberty in a Phrygian cap adorned with a band inscribed with the word LIBERTY. The reverse depicts a heraldic eagle with a shield, clutching an olive branch and arrows to symbolize a preference for peace but a readiness for war. Reich's work introduced a more mature and robust depiction of Liberty compared to previous draped bust designs, reflecting contemporary neoclassical tastes.

Varieties and technical notes

Collectors of this series frequently study die marriages defined by the Overton reference system, which identifies specific variations in star placement and letter alignment. The 1812 issue is known for several notable die states, including the 'Small 8' and 'Large 8' date varieties. Because the edge was lettered rather than reeded during this era, collectors should inspect the edge inscription 'FIFTY CENTS OR HALF A DOLLAR' for clarity and potential doubling.

Survival and modern availability

Although the mintage exceeded 1.6 million pieces, a significant portion of these coins were heavily circulated or melted for their silver content during periods of fluctuating bullion prices. Many surviving examples show evidence of cleaning or adjustment marks from the minting process, which was common for the era. Higher-grade specimens are increasingly scarce, as the majority of extant coins are found in Good to Very Fine condition due to decades of active use in the American economy.

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