Ron Guth: Proof 1831 Half Cents are found in three different versions:
1831 Original - right side of second S in STATES lines up with the tip of the leaf beneath (this same die was used later to produce 1832 Half Cents of the Cohne 1 variety).
1831 Reverse of 1836 - left side of second S in STATES lines up with the tip of the leaf beneath (this same die was used earlier to strike 1836 Original Half Cents); eventually this die becomes heavily cracked.
1831 Reverse of 1840 - reverse style of the 1840-1857 Braided Hair Half Cents
Considerable controversy exists over the status of the 1831 Originals. Were they all struck as Proofs or were some struck for circulation? The existence of numerous circulated examples suggests that some could have been struck for circulation, but they could just as easily have been Proofs that somehow entered circulation.
Matthew A. Stickney Collection - Henry Chapman 6/1907:1742 ($40) - S.H. Chapman - Allison W. Jackman Collection - Henry Chapman 6/1918:885 - Wayte Raymond - Howard Rounds Newcomb (valued by Newcomb at $32.50), sold privately in 1935 - B. Max Mehl, sold privately in 1935 - "Colonel" Edward Howland Robinson "E. H. R." Green Collection (appraised by F. C. C. Boyd for the Green Estate at $15.00 on 8/9/1937) sold in 4/1943 for $30.01 - Partnership of Eric P. Newman & Burdette G. Johnson (St. Louis Coin & Stamp) - Burdette G. Johnson - Mary Hedgecock Sheffield - Doris E. Nelson - Toby and Doris E. (Nelson) Szymanski (the "TAD" collection) - Stack's 3/1975:848 ($2,700) - Paramount FPL #12, Winter 1976 (reportedly advertised with an assembled 1831 proof set from the Col. Green collection) - Paramount “Auction '79” 7/1979:151 - R. Tettenhorst Collection - Eric P. Newman Numismatic Education Society - Missouri Cabinet (Mocab 31.1.3) - Goldbergs 1/2014:120, $155,250