1836 50C Capped Bust PCGS XF40 Lettered Edge

Key Features:

• Obverse:
  • The obverse features Lady Liberty facing left, wearing a cap (or Phrygian cap), known as the “Liberty cap,” with the word “LIBERTY” inscribed on the band above her forehead. Her bust is draped in flowing robes, giving the series its “Capped Bust” name.
  • Thirteen stars encircle Liberty, representing the original 13 colonies, with the date “1836” at the bottom.
• Reverse:
  • The reverse depicts a heraldic eagle with outstretched wings, clutching arrows and an olive branch, symbolizing war and peace, respectively.
  • Above the eagle is the motto “E PLURIBUS UNUM” (Out of Many, One), which is featured on a banner. Surrounding the eagle are the words “UNITED STATES OF AMERICA” and the denomination “50 C.” (50 cents).
  • The lettered edge of the coin, which was characteristic of these early half dollars, features the inscription “FIFTY CENTS OR HALF A DOLLAR.”
• Composition: 89.24% silver, 10.76% copper.
• Diameter: 32.5 mm.
• Weight: 13.48 grams.

Grade:

• PCGS XF40 (Extra Fine 40):
  • A coin graded XF40 exhibits light wear on the highest points of the design but retains sharp detail. For the Capped Bust half dollar, wear will typically be seen on Lady Liberty’s hair and cap on the obverse and on the eagle’s feathers and wingtips on the reverse.
  • At XF40, this coin still has a considerable amount of detail remaining and some mint luster might be present in the protected areas of the coin.

Historical Context:

• The Capped Bust Half Dollar was introduced in 1807 and underwent various design changes over its production run. By 1836, the lettered edge variety was nearing the end of its production, as the mint transitioned to the reeded edge in 1837.
• These coins circulated heavily in early America and were often used in everyday commerce. As a result, finding Capped Bust halves in higher grades, like XF40, can be a challenge, making this coin highly collectible.
• The 1836 Capped Bust Half Dollar was minted during a time of significant growth and expansion in the United States, just before the country experienced financial upheaval with the Panic of 1837.

Mintage & Rarity:

• The total mintage of 1836 half dollars was approximately 6,545,000, but many of these coins circulated widely, leading to considerable wear. This makes well-preserved examples like this XF40 graded coin more desirable to collectors.
• The lettered edge variety was only produced until 1837, after which the mint switched to a reeded edge. The 1836 lettered edge variety is common in lower grades but becomes more scarce in XF or higher grades.

Market Appeal:

• Capped Bust half dollars are highly sought after due to their historical significance, beautiful design, and collectible varieties. The lettered edge on these coins adds an extra level of interest for collectors of early U.S. coinage.
• The XF40 grade represents a coin that has seen light circulation but retains most of its detail, making it attractive for collectors who want a piece of history in solid condition without paying the higher premiums of mint state or AU examples.

Conclusion:

The 1836 50C Capped Bust Half Dollar PCGS XF40 Lettered Edge is a significant and beautiful example of early American coinage. Its XF40 grade ensures that it retains a strong level of detail, while the lettered edge variety adds an extra level of historical intrigue. As a well-preserved piece from an important period in U.S. history, it is an attractive choice for collectors and investors interested in 19th-century silver coinage.