Capped Bust Half Dime Value Guide (1829–1837)

The Capped Bust Half Dime series (1829–1837) represents a pivotal yet concise chapter in United States numismatics. After a 24-year hiatus following the Draped Bust type's cessation in 1805, the Philadelphia Mint resumed production of the five-cent silver denomination with William Kneass's new design. This brief nine-year series marked the first application of "close collar" technology at the U.S. Mint, standardizing the coins' diameter at 15.5mm and introducing a machine-reeded edge—a significant technological advancement over the open-collar, lettered-edge methods of earlier eras.

For modern collectors, the series offers both accessibility and complexity. As a "type set," a single example in Extra Fine condition can be acquired for under $250. Yet for variety specialists, the series presents 13 distinct Red Book varieties and numerous die marriages, with the 1837 Small 5C commanding premiums exceeding $12,000 in Gem condition. The market rewards astute attribution: distinguishing between Large and Small date digits, Large and Small denomination sizes, and dramatic errors like the 1836 "3 over Inverted 3."

All coins in this series were struck at the Philadelphia Mint; thus, no mint marks appear. The 89.24% silver composition provides a modest intrinsic value floor (approximately $1.16 in melt value at $30/oz silver), though collector premiums far exceed metal content for most examples. With total mintage exceeding 13 million pieces yet condition census populations in Gem grades rarely exceeding single digits, the series exemplifies the numismatic principle that survival, not mintage, determines true rarity.

Capped Bust Half Dime Identification Guide

Identifying your Capped Bust Half Dime begins with confirming the date (1829–1837) and understanding that all examples were struck at the Philadelphia Mint, so no mint mark is present. The obverse features Liberty facing left, wearing a soft cap with the word "LIBERTY" inscribed on a headband. Thirteen stars surround Liberty, with the date below the bust. The reverse displays a small eagle perched on a branch, holding an olive branch and arrows, encircled by a wreath and the inscription "UNITED STATES OF AMERICA."

Composition & Edge Identification

All Capped Bust Half Dimes share the same composition: 89.24% silver, 10.76% copper. The edge is reeded (grooved), produced by the close collar striking process. Unlike later half dimes, there is no composition variation throughout the series, making identification straightforward. The coin weighs approximately 1.35 grams and measures 15.5mm in diameter.

Close-up of reeded edge on Capped Bust Half Dime, produced by close collar technology

Date & Variety Attribution

The most critical identification challenge is variety attribution, particularly for 1835, 1836, and 1837. The denomination "5 C." on the reverse comes in two sizes:

• Large 5C: The "C" is tall, open, and visibly larger compared to the leaves in the wreath
• Small 5C: The "C" is diminutive, compact, and often appears slightly distant from the "5"

For 1835, the date also comes in two sizes:

• Large Date: Taller digits, with the top of the "5" nearly touching Liberty's bust
• Small Date: Notably smaller "8," with a clear gap between the top of the "5" and Liberty's bust

Side-by-side comparison of Large 5C (left) and Small 5C (right) denominations

Strike Weakness: The "Kneass Flatness"

A defining characteristic of this series is the weak strike commonly encountered, even on uncirculated examples. William Kneass's dies, combined with the new close collar technology, often failed to fully render:

• Hair curls above Liberty's ear
• The centers of the obverse stars
• Feathers on the eagle's breast and shield

This weakness is not wear—it's a striking characteristic. When examining a coin, look for "cartwheel" luster in protected areas (between stars and in fields) to distinguish a weakly struck mint state coin from a circulated one. Professional grading services account for this, but raw coins are frequently misattributed.

Capped Bust Half Dime Value Chart (1829-1837)

The following table provides year-by-year values for the Capped Bust Half Dime series. Values are based on PCGS CoinFacts, APMEX Price Guide, and recent auction results as of January 2026. Note that variety attribution significantly affects value, particularly for 1835, 1836, and 1837.

Most Valuable Capped Bust Half Dimes

The ceiling for values in the Capped Bust Half Dime series is defined by "Condition Census" examples (the finest known) and the exceedingly rare Proof strikings. While business strikes generally cap out around $3,000–$5,000 in Gem condition, the top tier commands six-figure prices. The following ranking reflects auction records from major numismatic auction houses, with source verification for each record sale.

Proof Capped Bust Half Dimes

While excluded from the main inventory table to prevent skewing averages, Proofs are an integral part of the series' history and represent the pinnacle of value for the type.

Status: Before 1858, Proofs were not sold to the public. They were "Diplomatic" or "Presentation" strikes, made with polished dies and polished planchets for VIPs or museum exchanges.

Survivorship: Estimates suggest fewer than 30-50 proofs exist for the entire series. The 1829 and 1831 Proofs are the most celebrated, with the 1829 Proof being particularly significant as a "foundation rarity" marking the design's first year.

Identification: Proofs are distinguished by "squared" rims (sharp edges), mirror-like fields, and frosted devices. However, early "Proof-like" (PL) business strikes can mimic this look. Authentication by PCGS or NGC is mandatory for any coin claimed to be a Proof.

Capped Bust Half Dime Key Varieties & Errors

For the Capped Bust Half Dime series, attribution of varieties is the primary method for discovering "sleeper" value. The market rewards the ability to distinguish between common and scarce die marriages, particularly for the years 1835, 1836, and 1837. Proper variety identification can mean the difference between a $150 coin and a $12,000 coin.

1837: The "Small 5C" Key Date

This is the most financially significant attribution in the entire series. The Small 5C variety is approximately three times rarer than the Large 5C, and the price differential reflects this scarcity at every grade level.

1837 Large 5C (left) vs. Small 5C (right): Note the difference in the height and openness of the "C"

Attribution (Reverse): Focus on the "5 C." denomination at the bottom of the reverse.

• Large 5C: The "C" is tall, open, and visibly larger in scale compared to the leaves in the wreath. The "5" and "C" appear balanced in size.
• Small 5C: The "C" is diminutive, compact, and often appears slightly distant from the "5". The overall denomination looks more condensed.

Market Premium: In VF20, the Small 5C trades for approximately $285 versus $160 for the Large 5C. In MS60, the spread explodes to approximately $2,200 versus $650. In Gem (MS65), the Small 5C commands $12,500+ compared to $6,250 for the Large 5C.

1835: The Four-Way Split

1835 features four distinct combinations of Date and Denomination sizes. While prices are often grouped in generic listings, the Small Date, Large 5C is a genuine condition rarity that commands substantial premiums in high grades.

1835 Large Date (left) vs. Small Date (right): The Small Date has shorter digits and more space above

Date Diagnostics:

• Large Date: The "1" and "8" are taller. The top of the "5" in the date nearly touches the bust of Liberty. Digits appear bold and occupy more vertical space.
• Small Date: The "8" is notably smaller. There is a clear gap between the top of the "5" in the date and Liberty's bust. Digits appear more compact.

Denomination Diagnostics:

• Large 5C: Tall, open "C" (same as 1837 Large 5C diagnostic)
• Small 5C: Compact "C" (same as 1837 Small 5C diagnostic)

The Four Varieties:

1. Large Date, Large 5C — Most common variety, baseline pricing
2. Large Date, Small 5C — Better variety, modest premium in Gem ($4,000 vs. $3,100)
3. Small Date, Large 5C — CONDITION RARITY. Values in MS65: $6,500 vs. $3,100 for common varieties
4. Small Date, Small 5C — Common variety, baseline pricing

Cherry-Picking Opportunity: Because the date/denomination differences are subtle to the untrained eye, 1835 offers the best opportunity for "cherry-picking"—finding the rare Small Date/Large 5C variety in a generic 1835 holder or raw collection. For attribution guidance, consult NGC's 1835 diagnostic page.

1836: 3 Over Inverted 3

A dramatic blunder where the date punch was initially entered upside down and then corrected. This is one of the most liquid coins in the series because it is included in the "Red Book" major variety set.

1836 3/Inverted 3: Note the "knob" protruding from the bottom loop of the "3" (indicated by arrow)

Diagnostics: Inspect the lower loop of the "3" in the date. You will see a distinct "knob" or secondary curve protruding from the bottom of the loop, which is the top of the inverted 3. Artifacts may also appear in the upper loop of the "3". This variety is visible to the naked eye under moderate magnification (5-10x).

Market Premium: Consistently trades at approximately 2× the value of standard 1836 examples in circulated grades ($120 vs. $70 in VG). In Gem (MS65), the premium expands dramatically to $6,500+.

Liquidity: The "Inverted 3" is one of the most liquid coins in the series. Dealers actively seek this variety for their inventory, and it appears regularly in major auctions. For recent sales data, see GreatCollections' 1836 3/Inverted 3 archive.

1830/29 Overdate

While recognized by specialists, this overdate is often subtle and less market-active than the 1836 error. However, it represents an interesting historical artifact of the Mint's die preparation practices.

Diagnostics: Look for traces of the "2" from 1829 underneath the "3" of 1830, and portions of the "9" under the "0". This variety requires strong magnification (10x or higher) to attribute confidently.

Market Premium: In lower grades, it often trades as a standard 1830 unless certified with the variety attribution. In AU/MS, it carries a moderate premium (10-20% above standard 1830 values).

Capped Bust Half Dime Grading & Authentication Guide

Successfully collecting Capped Bust Half Dimes requires understanding three critical factors that distinguish this series: strike weakness ("Kneass Flatness"), contemporary counterfeits, and the importance of original surfaces. These factors can dramatically affect both attribution and value.

Strike Quality & "Kneass Flatness"

The single most critical factor in grading Capped Bust Half Dimes is distinguishing between wear and weak strike. William Kneass's dies, combined with the new close collar technology, often failed to bring up the central details—a phenomenon collectors call "Kneass Flatness."

Typical "Kneass Flatness": Flat stars (left) vs. full strike (right), both in mint state

The Flatness: It is common for the following features to be completely flat or weakly defined, even on uncirculated coins:

• Hair curls above Liberty's ear
• Centers of the obverse stars
• Feathers on the eagle's breast and around the shield
• Leaf details in the wreath

The Test: Look for "cartwheel" luster in the protected areas (between stars, in the fields around Liberty's profile). If a coin has flat stars but blazing luster with no breaks in the flow, it is a Weakly Struck Mint State coin, not a circulated one.

Conversely, if the luster is broken, interrupted, or absent in the high points (even if the stars appear "full"), the coin has seen circulation. Grading services (PCGS/NGC) account for this phenomenon, but raw coins are often misgraded by sellers as "VF" when they are actually "AU" with a weak strike, or conversely, "AU" when they are "MS" with extreme weakness.

Authenticity & Counterfeits

The Capped Bust Half Dime series is plagued by Contemporary Counterfeits ("Davignon Varieties") produced in the 1830s-1850s to circulate as money. While collectible in their own right, these must not be mistaken for genuine silver issues.

Impossible Dates: Beware of Capped Bust Half Dimes dated 1826 or 1828. The series did not begin until 1829. Any Capped Bust Half Dime with these dates is a contemporary counterfeit, typically struck in German silver (a copper-nickel alloy) or base metal. These pieces have numismatic interest and trade in the $50-$100 range, but they are not genuine U.S. Mint products.

Visual Cues for Counterfeits:

• Crude lettering: Letters may appear uneven in height or spacing
• "Mushy" details: Cast counterfeits lack the crispness of struck originals
• Incorrect die pairings: "Muled" obverses/reverses that don't match known die marriages
• Wrong metal composition: Non-magnetic but not silver (German silver has a distinctive "tinny" sound when dropped)
• Incorrect weight: Genuine coins weigh ~1.35 grams; counterfeits are often lighter or heavier

Genuine 1829 (left) vs. contemporary counterfeit dated "1828" (right): Note crude lettering

For detailed information on contemporary counterfeits, see the Contemporary Counterfeit Capped Bust Half Collectors Club resource page.

Eye Appeal & Toning

The 89.24% silver alloy is reactive to atmospheric conditions, and toning significantly affects both eye appeal and value.

Market Reality: Dark, "terminal" toning (black/charcoal with little color variation) is common on Capped Bust Half Dimes and significantly discounts the value, often pushing a coin to the bottom of the price range or below. Coins with this toning may be designated "Environmental Damage" or simply trade at substantial discounts.

The Premium: Coins with "original skin" (light gray patina with gold or blue peripheral toning) or colorful "target toning" (concentric rings of blue, gold, and violet) command premiums of 20-30% or more above the table values. This is particularly true in the AU58 to MS64 range, where eye appeal often determines whether a coin trades at the low or high end of the price range.

Toning spectrum: Original gray patina (left), attractive target toning (center), terminal dark toning (right)

Dipped Coins: Avoid "dipped" (brilliant white) coins that look washed out. These have typically been chemically cleaned to remove toning, and the process often removes the original surface as well. While not always designated as "Details" grade by services, dipped coins trade at discounts and rarely appreciate. As CoinWeek's 1829 collector guide notes, "original surfaces, even when dark, are preferable to harsh cleaning."

Storage & Preservation

Proper storage is essential to prevent value-destroying toning and environmental damage:

• Use inert holders: Store in PCGS/NGC slabs or inert plastic flips (avoid PVC-containing flips)
• Avoid handling: Always hold coins by the edges; finger oils accelerate toning
• Control environment: Store in low-humidity conditions (40-50% relative humidity ideal)
• Avoid sulfur sources: Keep away from rubber bands, paper envelopes with sulfur-based adhesives, and wool

Capped Bust Half Dime Market Analysis by Date

Each year in the Capped Bust Half Dime series has distinct market characteristics driven by mintage, survival rates, strike quality, and collector demand. Understanding these nuances helps collectors target undervalued dates and avoid overpriced examples.

1829: The "First Year" Premium

Market Context: As the inaugural year of the Capped Bust series, the 1829 half dime benefits from dual demand: date collectors assembling complete sets and type collectors seeking the "first of type." This dual appeal creates consistent demand across all grade levels.

Survival: Mintage was 1.23 million. A surprisingly high number of high-grade examples survive compared to later dates like 1832. This is attributed to the public saving the "new" coin as a novelty in 1829—a common pattern for first-year issues. As detailed in CoinWeek's 1829 collector guide, the 1829 has better availability in MS63-MS65 than other common dates.

Valuation Nuance: While the price guide lists an MS63 at approximately $1,079, auction records show high volatility based on eye appeal. An eye-appealing MS64 with original surfaces can fetch $1,500, while a dark, dipped example may struggle to reach $900.

Pedigrees: Famous collections like the Eric P. Newman and Eugene H. Gardner sets contained spectacular 1829s, which set the "Condition Census" bar high. A Gardner MS67 sold for over $8,000.

1830 & 1831: The "High Volume" Baseline

Market Context: These years represent the baseline for the series. Mintages were consistent at 1.24M, and both dates are readily available in all grades from Good through MS64.

Strike Note: 1830 is particularly prone to "shuddering" of dies, leading to machine doubling or "shelf doubling" which does not add value but can be confused for a repunched variety. True doubled dies are extremely rare in this series.

1831 Sleeper: Market data from PCGS auction prices suggests 1831 is harder to find in true Gem (MS65) than 1829 or 1830. Collectors seeking a Gem 1831 may face stiff competition for the few that appear at auction, with prices occasionally spiking above $3,500 for exceptional examples.

1832: The "Sub-Million" Anomaly

Market Context: With a mintage of 965,000, this is the first date to drop below the 1 million mark. Yet surprisingly, the market has not fully priced in this lower mintage for circulated grades (G-XF).

Pricing Efficiency: The prices remain tethered to the 1829-1831 baseline ($70-$145 in G-VF). This makes 1832 a potential "value play" for collectors in XF/AU grades, where scarcity is real but pricing is generic. As noted on APMEX's 1832 page, "the 1832 is undervalued relative to its true rarity in the AU50-58 range."

High Grade Performance: In MS65, the 1832 commands the same $3,100 as other common dates, but the population is notably smaller. An MS67 or MS68 1832 (such as the $93,000 MS68+ example) represents a true condition rarity.

1833 & 1834: The "Workhorse" Years

Market Context: Mintages rebounded to 1.37M and 1.48M respectively. These are the dates most commonly found in dealer "junk" boxes or low-grade type sets. In circulated grades, they represent the most affordable entry point into the series.

Strike Variation: 1833 is notorious for uneven striking pressure. It is common to find an 1833 where the date is bold but "E PLURIBUS UNUM" on the reverse is fading or incomplete. This is a die state issue, not a variety, and does not significantly affect value.

Variety Note: 1834 has a "3 over Inverted 3" variety listed in some references, but it is far less dramatic and less valuable than the celebrated 1836 counterpart. Most 1834 overdate claims are actually die clashing or doubling, not true overdates.

1835: The Variety Hunter's Paradise

Market Context: The highest mintage year at 2.76M and the most complex. The four varieties (Large/Small Date × Large/Small 5C) create opportunities for savvy collectors.

Values: The Small Date, Large 5C is the standout. In MS65, it is valued at $6,500 versus $3,100 for the common varieties—more than double. Yet in circulated grades, the premium is modest ($80-$160 vs. $70-$145).

Cherry-Picking: Because the date/denomination differences are subtle to the untrained eye, 1835 offers the best opportunity for "cherry-picking"—finding the rare Small Date/Large 5C variety in a generic 1835 holder or at a coin show. For diagnostic help, see NGC's 1835 attribution guide.

1836: The Error Year

Market Context: Dominated by the 3 over Inverted 3 variety, which is one of the most visible and dramatic errors in early U.S. coinage.

Liquidity: The "Inverted 3" is one of the most liquid coins in the series because it is included in the "Red Book" major variety set. Dealers are always looking for this specific error, and it appears regularly in major auctions. For sale history, see GreatCollections' 1836 3/Inverted 3 archive.

Standard Issue: The normal 1836 (both Large and Small 5C) is common with a 1.9M total mintage and serves as an affordable alternative to the expensive 1837. In circulated grades, it's priced identically to 1829-1834 common dates.

1837: The Transitional Key

Market Context: The final year of the Capped Bust design. Mintage plummeted to 871,000 as the Mint prepared for the Seated Liberty dies, making this the lowest-mintage year of the series.

The "Small 5C" Factor: The rarity of the Small 5C cannot be overstated. With a price tag of $12,500+ in Gem condition and $175-$300 even in worn grades, it is the financial heavyweight of the business strikes. The Large 5C variety, while still scarce, is far more obtainable.

Buying Advice: Never buy an 1837 without confirming the variety. As PCGS CoinFacts notes, "the Small 5C is approximately three times rarer than the Large 5C and commands exponential premiums at every grade level." A "Large 5C" sold as a generic 1837 is fair market practice; a "Small 5C" sold as generic is either a seller's error or a buyer's windfall.

Capped Bust Half Dime Collecting Strategies

The Capped Bust Half Dime series appeals to a diverse range of collectors, from budget-conscious type collectors to advanced specialists pursuing registry sets. Here are three proven collecting strategies, with realistic budget estimates and specific acquisition advice.

The "Type" Collector: One Coin, Maximum Impact

Goal: Acquire a single example of the Capped Bust Half Dime design to represent the type in a larger collection (e.g., a "Type Set" of all U.S. denominations).

Strategy: Target an 1831, 1833, or 1835 (Common Variety) in AU58 grade.

Why? AU58 coins often have better eye appeal than MS60/61 coins due to the series' propensity for weak strikes and contact marks. An AU58 will display nearly full luster with only light friction on the highest points, and it costs significantly less than a Mint State example ($450-$580 vs. $600-$1,600 for MS60-64).

What to Look For:

• Light gray or gold toning (avoid dark, terminal toning)
• Original surfaces (no signs of dipping or harsh cleaning)
• Reasonable strike for the grade (some stars may be weak, which is acceptable)

Budget:$400-$600 for a certified AU58 with good eye appeal.

Where to Buy: Search completed listings on GreatCollections or PCGS auction archives to establish fair market value before purchasing.

The "Date" Collector: A Complete Nine-Year Run

Goal: Assemble one coin from each year (1829–1837), capturing the full chronological span of the series.

Strategy: Focus on VF30 to XF45 grades. This grade range offers consistent pricing, strong eye appeal, and the ability to complete the set without breaking the bank.

Why? The series is very consistent in price in this grade range ($150-$300 per coin for common dates). The entire set can be assembled for under $3,000, offering a tangible slice of history without extreme rarity premiums. The hurdle is the 1837; buying a Large 5C keeps the set affordable.

Budget Breakdown (VF30-XF45 grades):

• 1829: $220-$280
• 1830: $215-$250
• 1831: $215-$250
• 1832: $220-$280
• 1833: $230-$280
• 1834: $220-$280
• 1835 (any variety): $220-$280
• 1836 (standard): $230-$300
• 1837 Large 5C: $240-$350

Total Budget:$2,000-$2,550 for a complete nine-year set in VF-XF.

Advanced Option: If budget allows, upgrade the 1837 to the Small 5C variety (add $200-$400 in XF45), creating a set with the true key date.

The "Variety" Specialist: Red Book Completion

Goal: Acquire all 13 Red Book varieties, including the four 1835 combinations, both 1836 types (standard and 3/Inverted 3), and both 1837 denominations.

Strategy: This requires deep pockets for the 1837 Small 5C and 1836 Inverted 3, which are the financial gatekeepers. Most specialists pursue this in AU58 to MS63 grades to balance completion with cost.

Opportunity: Focus on finding 1835 Small Date/Large 5C examples in raw collections, at coin shows, or in unattributed slabs. This variety is often overlooked and can be acquired at common-variety prices ($70-$145 in circulated grades) if the seller hasn't properly attributed it. In MS65, the premium is substantial ($6,500 vs. $3,100).

Budget Estimate (AU58-MS63 range):

• Common dates (8 coins): $450-$650 each = $3,600-$5,200
• 1835 varieties (4 coins):
  • Large Date/Large 5C: $450
  • Large Date/Small 5C: $500
  • Small Date/Large 5C: $700-$1,200 (condition rarity)
  • Small Date/Small 5C: $450
• 1836 3/Inverted 3: $800-$2,000 (depending on grade and strike)
• 1837 Small 5C: $2,200-$5,000 (MS60-63 range)

Total Budget:$8,700-$15,000 for the complete Red Book variety set in AU-MS63.

Capped Bust Half Dime FAQs

Methodology & Sources

This guide is based on comprehensive analysis of auction records, dealer pricing, third-party grading service data, and numismatic research current as of January 2026. All values represent fair market ranges based on actual transaction data, not theoretical "book" prices.

Valuation Sources

• Auction Records:
  • PCGS Auction Prices Realized — Comprehensive database of certified coin sales
  • GreatCollections Auction Archives — Recent sales data with images
  • Heritage Auctions and Stack's Bowers (cited individually in Most Valuable section)
• Population Data & Research:
  • PCGS CoinFacts — Mintage figures, variety attributions, census data
  • NGC Coin Explorer — Population reports, variety diagnostics
  • CAC Grading: Capped Bust Half Dimes Analysis — Market analysis and condition census
• Price Guides:
  • APMEX Coin Values — Retail pricing and market trends
  • Red Book (CPG) valuations (cited in source document)
• Mintage Data:
  • Coin Mintages: Capped Bust Half Dimes — Verified against U.S. Mint records
• Educational Resources:
  • CoinWeek: 1829 Capped Bust Half Dime Collector's Guide
  • Contemporary Counterfeit Capped Bust Half Collectors Club

Market Disclaimer

Coin values fluctuate based on precious metal spot prices (silver), market conditions, and individual coin quality. The "Kneass Flatness" striking characteristic is common throughout the series and affects grading interpretation. Values presented represent fair market ranges for problem-free coins with typical strike quality for the date. Coins with exceptional strikes, original surfaces, or attractive toning may command premiums of 20-50% above these values. Conversely, cleaned, damaged, or environmentally compromised coins trade at substantial discounts.

Attribution Standards

Variety attributions follow the classification systems used by PCGS and NGC, which are derived from the Logan-McCloskey (LM) reference work on early half dimes. When purchasing varieties (especially 1835 and 1837), always verify attribution through professional grading services or reference diagnostics from PCGS CoinFacts or NGC Coin Explorer.