Bust Half Dollar

(1794 – 1839)

The Half Dollar has been a staple of U.S. coinage since the very first days of the United States Mint, playing a crucial role in the nation’s economy and having a long history of circulation and evolution. The first iteration of this coin, known as the Bust Half Dollar, was minted from 1794 to 1839, marking an important chapter in the development of American currency. These early coins have a fascinating history and have undergone several design changes, making them highly collectible and valuable in today’s market.

The Bust Half Dollar was introduced in 1794, shortly after the establishment of the U.S. Mint. These coins featured Lady Liberty on the obverse, depicted wearing a flowing cap, symbolizing the nation’s emergence from the chaos of revolution. The reverse showed a heraldic eagle, representing strength and unity. During the first few decades, the design evolved as engravers worked to refine the images on the coins to better represent the ideals of the country. This period of production saw several minor variations in the designs, leading to a rich variety of coins that collectors highly prize today.

The Bust Half Dollar underwent significant changes in 1807, with the introduction of the Capped Bust design. This design featured a more formal portrait of Liberty, wearing a cap to symbolize freedom, and a more detailed eagle on the reverse. This design would become the hallmark of the coin for several decades, continuing until the end of the Capped Bust series in 1839.

D uring the early years of the Bust Half Dollar’s production, the mint’s operations were still being refined, and the quality of the coins varied. As a result, many of these early coins were used extensively in commerce and saw a lot of wear and tear, making high-quality examples rare and highly valued by collectors. The coins minted in the 1790s and early 1800s are especially sought after due to their low mintage numbers and historical significance, with some early Bust Half Dollars selling for tens of thousands of dollars in good condition.

A s the years passed, the design of the Half Dollar continued to evolve. After 1839, the Seated Liberty Half Dollar replaced the Bust design, ushering in a new era of U.S. coinage. However, the legacy of the Bust Half Dollar continues to hold a significant place in numismatic history. Collectors often seek out early Bust Half Dollars for their unique place in the story of American currency.

Over time, the Bust Half Dollar’s influence continued to echo through later designs, with several U.S. Mint engravers drawing inspiration from its elegance and symbolism. Its relatively long period of production (45 years) and its connection to key moments in U.S. history, from the nation’s founding to its early growth and westward expansion, make it an essential part of any serious coin collection.

The Bust Half Dollar remains one of the most sought-after early American coins. The rarity of well-preserved examples, along with the iconic designs, ensures that this coin continues to captivate collectors and investors alike. Whether you’re a seasoned numismatist or just beginning your collection, owning a piece of U.S. history in the form of a Bust Half Dollar can be a deeply rewarding experience.

Designs of the Bust Half Dollar

Flowing Hair Half Dollar (1794-1795)

Design: The Flowing Hair design was the very first design on the Half Dollar. Lady Liberty is depicted with flowing hair, and the reverse features a small eagle.

Design Issue: The small eagle on the reverse and the flowing hair design were found to be difficult to strike consistently, so the mint decided to modify the design soon after.

Capped Bust Half Dollar (1807–1839)

Obverse: Lady Liberty is shown wearing a cap, hence the name “Capped Bust.” This design was created by John Reich and is a notable evolution from the previous flowing hair design. Liberty is depicted with a cap and the word “Liberty” on a ribbon.

Reverse: The reverse shows a larger eagle than seen on the Flowing Hair Half Dollar. The eagle is more prominent, and the reverse features a large scroll with the words E Pluribus Unum and a shield with an olive branch and arrows in its claws.

Design Adjustments: A major change during the period was the transition to a reduced size from the larger size of the first years.

Sought-After Bust Half Dollars

Flowing Hair Half Dollar (1794-1795)

Value: These are incredibly rare and can fetch up to $10,000 or more in decent condition. Given their limited mintage, finding one is a collector’s dream.

Capped Bust Half Dollars

These coins are more available than the Flowing Hair variety but still hold significant value. Prices for Capped Bust Half Dollars typically range from $200 to several thousand dollars depending on the year and condition.

Early Capped Bust coins from the 1800s, especially 1815 and 1820, are typically more valuable than those minted in the later years (1830s).

Factors Influencing the Value of
Bust Half Dollars

Condition: Although older coins typically show wear, collectors will still pay a premium for coins in better-than-average condition. Even a Poor condition Flowing Hair Half Dollar can command several thousand dollars due to its rarity.

Rarity: Coins from the early 1800s, particularly those minted in low numbers, often fetch higher prices. Low mintage years or coins with significant design or die variations can significantly increase the value.

Demand: These coins remain popular in the coin-collecting community, and as time goes on, they are likely to become even more sought after as fewer examples remain in circulation.

Value of a Bust Half Dollar

The value of these early Bust Half Dollars varies significantly based on their mintage year, condition, and rarity. As these coins are over 200 years old, their value is driven more by their historical significance and rarity than their condition alone. Many collectors are willing to pay top dollar for any example of these coins due to their age and place in U.S. history

Valuation Chart

Historical Context Year-By-Year

1794 – The first year of the Bust Half Dollar. The coin features a portrait of Liberty with flowing hair and is a reflection of early American coinage.
World Fact: The French Revolution begins, dramatically changing the political landscape of Europe.

1795 – The design of the Bust Half Dollar undergoes minor changes, including a larger size and weight.
World Fact: The United States signs a treaty with Native American tribes, establishing peace and land agreements.

1796 – The first year with the Heraldic Eagle design, which would remain prominent for many years. The mintage is significantly low, making this year highly collectible.
World Fact: George Washington is re-elected as President of the United States for a second term.

1797 – The mintage of Bust Half Dollars continues, and coin collectors begin to take notice of these early designs.
World Fact: The XYZ Affair occurs between the United States and France, leading to an undeclared naval war.

1798 – A slight design change for the Bust Half Dollar is introduced, and the mintage is higher. The design is still relatively crude compared to later coins.
World Fact: The Quasi-War with France begins, with tensions escalating in the aftermath of the XYZ Affair.

1799 – This year sees the production of more Bust Half Dollars as the country stabilizes and grows. Coins from this year are still highly valued by collectors.
World Fact: Napoleon Bonaparte rises to prominence in France, setting the stage for his later dominance over Europe.

1800 – The coinage continues as the nation heads into the 19th century. The design of the Bust Half Dollar is refined, with more attention to detail.
World Fact: Thomas Jefferson is elected as the third president of the United States, succeeding John Adams.

1801 – Coin production remains stable, with the Bust Half Dollar becoming a standard in circulation.
World Fact: Napoleon becomes First Consul of France, consolidating power after the French Revolution.

1802 – The U.S. economy continues to expand, and the production of Bust Half Dollars sees increased demand.
World Fact: The U.S. passes the Act of Congress that established the first U.S. Library of Congress.

1803 – The United States purchases the Louisiana Territory from France, expanding its size dramatically and increasing demand for coinage.
World Fact: Lewis and Clark begin their expedition of the western U.S., helping to explore and map the new territories.

1804 – A rare and significant year for Bust Half Dollars, with a limited mintage and a special coinage known for its rarity.
World Fact: The Louisiana Purchase Treaty is finalized, dramatically expanding U.S. territory.

1805 – A transition year in U.S. coinage, as the Bust Half Dollar design continues to evolve.
World Fact: The Barbary Wars begin, marking the start of naval engagements between the U.S. and Barbary States.

1806 – The minted number increases slightly, as the coin becomes a more common fixture in circulation.
World Fact: The U.S. begins negotiations with Spain for territorial claims, continuing westward expansion.

1807 – This year marks the final year of the initial Bust Half Dollar design before minor refinements are made.
World Fact: The Embargo Act of 1807 is passed, stopping trade with Britain and France, leading to an economic downturn.

1808 – A transitional year in U.S. coinage as the design undergoes revisions for the Bust Half Dollar.
World Fact: James Madison becomes the fourth president of the U.S., taking office amid increasing tensions with Britain.

1809 – The Bust Half Dollar continues to evolve, becoming an important fixture in the nation’s economy.
World Fact: The U.S. declares war on Great Britain, marking the start of the War of 1812.

1810 – As the nation deals with the War of 1812, the Mint’s production continues, though there are delays in many coin types.
World Fact: The War of 1812 rages on, with significant battles and naval engagements taking place between the U.S. and Britain.

1811 – A continued focus on minting Bust Half Dollars as the Mint works to supply coins for the growing U.S. economy.
World Fact: The Battle of Tippecanoe takes place, as U.S. forces fight Native American resistance in the west.

1812 – This year marks the height of the War of 1812, though coin production continues to move forward.
World Fact: The British burn Washington, D.C., and the Star-Spangled Banner is composed during the defense of Fort McHenry.

1813 – While the War of 1812 continues, the U.S. Mint struggles to meet demand for coinage. The Bust Half Dollar remains a vital part of the economy.
World Fact: Napoleon is defeated in Europe, signaling the end of his dominance in the region.

1814 – Despite the war, coinage is still minted, including Bust Half Dollars. The economy begins to recover from the war’s effects.
World Fact: The Treaty of Ghent is signed, ending the War of 1812 between the U.S. and Great Britain.

1815 – Post-war recovery begins, and the U.S. Mint starts minting larger numbers of Bust Half Dollars to meet demand.
World Fact: The Battle of New Orleans occurs, although the war had already ended.

1816 – A new design of the Bust Half Dollar is introduced, continuing the trend of refinement in American coinage.
World Fact: The U.S. starts to move into an era of industrialization, with factories beginning to replace earlier forms of manual labor.

1817 – The economy is stable, and coin production increases as the U.S. enters a period of relative peace and growth.
World Fact: The first steam-powered vessels begin operation, revolutionizing travel.

1818 – The Bust Half Dollar continues to be produced, with more examples entering circulation during a period of increasing economic stability post-War of 1812.
World Fact: The United States begins to shift towards industrialization, marking a significant change in the economy.

1819 – Mintage remains consistent for the Bust Half Dollar, and the Mint faces increased demand for circulating coinage.
World Fact: The Panic of 1819 occurs, the first major financial crisis in the U.S., causing a severe depression.

1820 – The Bust Half Dollar remains a popular coin, though production numbers are adjusted based on economic needs.
World Fact: The Missouri Compromise is signed, admitting Missouri as a slave state and Maine as a free state, aiming to balance the power in Congress.

1821 – A steady year for coin production as the economy begins to recover from the Panic of 1819. The Bust Half Dollar remains in circulation.
World Fact: Mexico gains independence from Spain, and tensions rise along the U.S.-Mexico border.

1822 – The U.S. Mint’s production of Bust Half Dollars continues, though mintages fluctuate due to economic conditions.
World Fact: The Monroe Doctrine is declared, warning European powers against further colonization in the Americas.

1823 – This year sees a smaller number of Bust Half Dollars produced, as demand for silver coins decreases slightly.
World Fact: The U.S. formally establishes diplomatic relations with the Kingdom of Greece.

1824 – The economy continues its steady recovery, and Bust Half Dollars remain in circulation. Mint production begins to slightly rise.
World Fact: The first successful American steam-powered passenger train begins operation in New Jersey.

1825 – The U.S. Mint faces pressure to produce more silver coinage, and the Bust Half Dollar continues to meet the demands of a growing population.
World Fact: The Erie Canal opens, dramatically improving transportation and commerce in the U.S.

1826 – The Bust Half Dollar’s mintage increases slightly, with more coins minted to meet demand during an expanding U.S. economy.
World Fact: John Adams and Thomas Jefferson, both former U.S. Presidents, die on the same day, July 4th, marking the 50th anniversary of the Declaration of Independence.

1827 – Production of Bust Half Dollars remains steady, as the country enters a period of economic growth.
World Fact: The first railroad tunnel in the U.S. is completed, showcasing advancements in transportation technology.

1828 – With steady production, the Bust Half Dollar is still a staple of U.S. coinage, circulating widely in daily transactions.
World Fact: Andrew Jackson is elected as the seventh President of the United States, beginning his controversial presidency.

1829 – Mintage continues at a steady pace, as the economy flourishes under Jackson’s presidency.
World Fact: The first national debt is paid off by the U.S. government, marking a significant achievement in fiscal policy.

1830 – The Bust Half Dollar is part of a larger trend of increasing coin production during a period of relative stability.
World Fact: The Indian Removal Act is passed, leading to the forced relocation of Native American tribes to western territories.

1831 – Bust Half Dollars remain in circulation, though their role is overshadowed by other coin denominations in widespread use.
World Fact: The first steamship to successfully travel the Atlantic Ocean makes its maiden voyage.

1832 – Mintage continues, though by now the country is transitioning to newer coin designs.
World Fact: The nullification crisis occurs, where South Carolina attempts to nullify federal tariffs, testing the strength of federal authority.

1833 – The last of the early production of Bust Half Dollars continues, as newer coin designs are in development.
World Fact: The abolitionist movement gains momentum as more states pass laws to free enslaved individuals.

1834 – This is the final year of production for the Bust Half Dollar. A new design takes its place, marking the end of an era in U.S. coinage.
World Fact: The U.S. Mint begins the production of the Seated Liberty coinage, signaling the beginning of a new chapter in coin design.

Final Thoughts

Bust Half Dollars are among the most coveted and revered coins in the world of U.S. numismatics. With their distinctive designs, rich history, and limited availability, they embody a sense of early American coinage that no other series quite matches. These coins are steeped in the formative years of the United States, making them a highly desirable addition to any collection. The age, rarity, and historical significance of Bust Half Dollars only add to their allure — each one a tangible connection to the country’s birth and growth.

Now, I’ll be upfront: finding a Bust Half Dollar in excellent condition can be a serious challenge. Coins in high grade are rare, and when they do pop up, they’re often accompanied by a hefty price tag. But here’s the thing: even coins in lower grades still pack a punch in terms of value. They’re part of that fascinating, early chapter of U.S. coinage, and that alone makes them worthy of a place in your collection. A worn-down Bust Half Dollar may have seen decades — if not centuries — of history unfold, and owning one feels like holding onto a bit of the past.

When you add a Bust Half Dollar to your collection, you’re not just adding a coin — you’re adding a piece of American history. These coins were in circulation during some of the country’s most pivotal moments, from the formation of the nation to its expansion westward and its early economic growth. The fact that these coins have survived in any form is a testament to their enduring legacy. Whether it’s a 1796 or an 1834 — owning one is more than just having a coin in your collection. It’s like owning a time capsule, an artifact that ties you directly to the founding of the United States.

So, whether you’re a seasoned numismatist or just starting out, keep your eyes peeled for these treasures. They don’t come around often, but when they do, you’ll be holding a piece of history in your hands.