Ron Guth: The 1837 Capped Bust Half Dime was the last year of the type. Later in the year, the new Seated Liberty design was introduced, not only on the Half Dimes, but on the Dimes as well -- then in 1838 on the Quarter Dollars, in 1839 on the Half Dollars, and finally in 1840 on the Silver Dollars (but never on any gold coins).
The entire mintage of 1837 Half Dimes is comprised on Small 5C and Large 5C varieties. Based on the PCGS Population Report data, the Large 5C variety is more than three times as plentiful as the Small 5C. In Mint State, the Large 5C is seen most often in MS63, followed closely by MS62 and MS64. The top grade is MS66, where a single PCGS MS66+ has been graded.
On both sides, the border consists of very fine dentils, which soften the overall appearance. Most examples show a soft, satiny luster. Occasionally, the dentils on the left side of the obverse will be weakly struck, and less frequently, the eagle will appear weak in the central part of the reverse.
William Walser Collection - Bowers & Merena 7/2002:107, $4,370 - D. Brent Pogue Collection - Stack’s/Bowers & Sotheby’s 5/2015:1033, $22,325