Capped Bust Half Dimes by Date: XF to AU Grades

Capped Bust Half Dimes were minted for just nine years, 1829 to 1837, and this series is the easiest pre-‘Civil War’ type of U.S. coins to complete. These coins are cute, are not difficult to acquire in several grade ranges (‘conditions’), and are scarce yet not rare. For collectors who are seeking coins that have nearly as much detail as uncirculated coins and are clearly inexpensive in the context of classic U.S. coins, building a set of Extremely Fine (‘XF’) to Almost Uncirculated (AU) grade Capped Half dimes would be an excellent project. Indeed, it would not cost much to complete this set. 

For an introduction to half dimes in general, please see my introduction to types of half dimes and my discussion regarding collecting circulated half dimes by design type.  

Another discussion in this series relates to collecting choice to gem quality, uncirculated Capped Bust half dimes ‘by date.’ Capped Bust half dimes that grade below Very Fine-30 are usually not certified, and are thus ‘raw,’ uncertified and not encapsulated.

The Population of CAC Capped Bust Half Dimes

Usually, it is not cost effective for dealers to submit Almost Good-03 to VF-25 grade Capped Bust half dimes to PCGS or NGC because certification fees, plus shipping, would amount to a substantial percentage of the value of each respective coin. Moreover, the art of interpreting raw coins needs to be taught ‘in person,’ and many collectors will learn via experience. Extensive guidance regarding raw coins is not provided here, as the current focus is on collecting PCGS or NGC certified coins. 

All coins mentioned in this discussion have been PCGS or NGC graded and later approved by CAC. Public sales of certified XF-40 to AU-58 Capped Bust half dime are cited to provide general indications of the costs of collecting such coins. 

Of all dates in the series of Capped Bust half dimes, CAC has approved only thirty-two at the XF-40 level. How many PCGS and NGC graded XF-40 Capped Bust half dimes have ever been submitted to CAC?

Price Values of XF Graded Capped Bust Half Dimes

Capped Bust Half dimes in XF-40 to XF-45 grades may be priced anywhere from $145 to $300, depending upon technical factors, eye appeal, surface quality and the business practices of the respective seller. Some dealers inventory these for many months, while others are geared to sell them in a rapid manner. 

Two coins struck from the same pair of dies with the same level of wear may both have been certified as grading XF-40, yet be characterized by vastly different surface characteristics. One may be full of contact marks and the other may have hardly any contact marks. Further, one XF-40 grade coin may have pleasant blue and russet toning and another may have awkward black and yellow-spotted brown toning. Of course, there are variations in surface quality for coins of all grades, less so for circulated coins that are certified. An immediate point is that there is much more to the quality of a coin than its certified grade, even if there has been near-unanimous agreement regarding a particular certified grade for a specific coin. 

A naturally attractive Extremely Fine (‘XF’)-40 grade 1835 half dime may be worth much more, in some settings, than an awfully toned or very apparently dipped XF-40 grade 1835 half dime. Collectors who are very puzzled about surface quality and surface characteristics in general may wish to start by acquiring some Good to Very Fine grade Capped Bust coins before assembling a set of Extremely Fine or higher grade coins. 

From a logical perspective, market prices for XF to AU grade Capped Bust half dimes are low. These are silver coins from the 1830s, and XF grade coins generally exhibit a great deal of detail and AU grade coins are just slightly worn.

Leading Auction House Prices of XF to AU Capped Bust Half Dimes

In the archives of the leading auctions firms, a very small number of CAC approved, XF-40 to AU-58 grade Capped Bust half dimes are listed. Additional coins trade privately. 

In January 2020, Heritage auctioned a CAC approved AU-55 grade 1929 half dime for $720. This is an unusually high price realized, as the November 2020 CPG-CAC retail price estimate for this coin was $325 and the February 2020 CPG-CAC retail price estimate was $299. 

In September 2019, GreatCollections sold a CAC approved XF-45 grade 1829 for $192.38, a fair price. In October 2018, Heritage sold a CAC approved AU-58 1830 for $336, a price around the current border between the wholesale and retail price ranges. In September 2019, GreatCollections sold a CAC approved AU-53 grade 1830 for $307.01, a retail price. 

In August 2019, Heritage sold a CAC approved AU-50 grade 1831 for $186. While this is a wholesale price, the November 2020 CPG-CAC retail estimate of $286 is too high. An expected retail price may would be in the range from $220 to $260. In August 2019, the CPG-CAC retail estimate was $260. 

In April 2019, Heritage sold a CAC approved AU-55 grade 1831 for $288, an amount probably around the wholesale-retail border. In July 2020, GreatCollections sold a different CAC approved AU-55 grade 1831 half dime for $343.12, obviously a retail price, though perhaps an exceptionally appealing coin. I like the published pictures of it and I wish I had seen this coin in actuality. 

On February 10, 2019, the firm called GreatCollections sold a CAC approved XF-40 1832 half dime for $153. On September 29, 2019, GreatCollections sold a CAC approved XF-45 grade 1832 for $194.37, 

In September 2019, GreatCollections sold a CAC approved XF-45 grade 1833 for $148.28. In January 2020, Heritage sold a CAC AU-58 1833 for $324, another price around the wholesale-retail border as auction results tend to be. In my view, the XF-45 grade 1833 for $148.28 was likely to have been a much better value, though I would not draw a firm conclusion without seeing the coins. Among coins that I personally like, I would rather have two CAC XF-45 grade Capped Bust half dimes than one CAC AU-58 half dime, assuming that the dates are of equivalent scarcity, more or less 

GreatCollections sold the exact same, CAC approved, PCGS graded XF-45 1834 half dime for $180 on September 29, 2019 and for $198 on December 15, 2019. CAC has approved more than forty 1834 half dimes in the XF to AU grade range, though these are not publicly offered very often. 

Large Date and Small Date Capped Bust Half Dimes

The 1835 ‘Large Date’ and the 1835 ‘Small Date’ are often collected as two distinct dates of the same year. The numerals on the ‘Large Date’ coins are noticeably larger. Indeed, they are much larger. 

For Capped Bust half dimes dating from 1835 to 1837, there are ‘Large 5 C.’ and ‘Small 5 C.’ varieties. An indicator of the denomination, ‘5 C.,’ is part of the reverse (back) design. Collectors who have spent time studying half dimes find that the ‘Large 5 C.’ and ‘Small 5 C.’ varieties are readily apparent without magnification. 

Building a CAC-only set with all these ‘Large 5 C.’ and ‘Small 5 C.’ varieties would be difficult. Regarding all grades, CAC has approved just twenty-seven 1835 ‘Large Date – Small 5 C.’ half dimes and merely eighteen 1837 ‘Small 5 C.’ half dimes, as of December 11, 2020. 

By tradition, varieties relating to the size of the numerals or letters on the reverse are considered to be less important than varieties relating to the obverse. The numerals of the year on a coin fall more in line with the conceptual definition of a ‘date’ than do numerals relating to the denomination, which tend to appear as part of the reverse design on U.S. coins when present at all. Three Dollar Gold pieces are exceptions, as the numerals of the ‘year’ are on the reverse. 

I suggest ignoring the ‘Large 5 C. ‘ and ‘Small 5 C. ‘ varieties with the idea that these can be focused upon after a set ‘by date’ is completed if the respective collector finds them to be important to him or her. Ultimately, collectors, not guides, decide which coins to pursue. 

In September 2020, GreatCollections sold a CAC approved AU-55 grade 1836 ‘Small 5 C.’ half dime for $398.11. In August 2019, Heritage sold a CAC approved AU-53 grade 1837 ‘Small 5 C.’ coin for $234. 

The 1834 and 1836 “3 over inverted 3” varieties are curious. They are minor varieties, however, which require much magnification and analysis to interpret. These should really be only of interest to collectors who are assembling sets by die pairing. They are not additional dates of the years 1834 and 1836, respectively. 

The collector who is really interested in the nuances of Capped Bust half dimes may later seek representatives of minor varieties. Most collectors will ‘move on’ after completing a set of Capped Bust half dimes ‘by date’ and seek to complete sets of other series.

Greg has carefully examined thousands of truly rare and conditionally rare classic U.S. coins, including a majority of the most famous rarities. He is also an expert in British coins. He is available for private consultations.