After 1797 no half dollars were struck until 1801, when the Draped Bust obverse was employed with the Heraldic Eagle reverse. Half dollars of this new type were minted through 1807. As is the case with quarter dollars, those pieces toward the end of the series are nearly always seen poorly struck; this is especially true of Draped Bust halves dated 1807.

Part way through the latter year a new design was created, the Capped Bust type, said to have been the work of John Reich. Capped Bust half dollars were produced continuously through 1836, with the exception of the year 1816. At the time silver dollars were not being produced for general circulation. Therefore, it fell to the half dollar denomination to become the workhorse coin for everyday commerce. Accordingly, production was typically over a million each year, a large quantity for the time. The Capped Bust series contains many interesting variations, especially overdates. Most of these are available in higher circulated grades such as EF and AU for prices in the general range of $100 to $300 or so.

In 1836 the half dollar design was modified to a smaller size with reeded edge, with the denomination expressed on the reverse as 50 CENTS. With a design change in 1838 (the denomination inscription was changed to read HALF DOL.) the general style was used through mid-1839. A major rarity of this era is the 1838 New Orleans issue (1838-O), of which it has been said that just 20 were struck, a statement which may indeed be true, as fewer than that number can be traced today.

Budget Recommendations: Like large cents, early half dollars furnish a fertile field for collecting, and there are many possibilities. Forming a type set is a popular way to go, especially if you want to acquire the early issues. For 1807-1836 issues I highly recommend forming a date set in F-12 grade. You will enjoy having many coins for a relatively small amount of money, and you will delight in owning so many interesting varieties, including numerous overdates.

Recommendations for the Connoisseur: For the 1794-1795 Flowing Hair halves, I like VF-20 to EF-45. AU-50 to MS-63 coins are good values but are hard to find and are expensive. Half dollars of 1796-1797 are very rare, and I will leave it up to you to consult current prices to determine which grades you want. For 1801-1807 halves I like EF-40 to AU-50; there are many good values here, but be sure to pick sharply struck coins (virtually impossible for the year 1807, however). Forming a date set of 1807-1836 Capped Bust halves is highly recommended as a fascinating numismatic endeavor. Pick a grade range such as EF-40 to AU-50 if you want to get a lot of coins for the money. If you can afford it, collect MS-60 to MS-63, cherrypicking all the way. These coins are very beautiful and are quite undervalued, in my opinion.

Elite Recommendations: MS-60 or better is a reasonable goal for the 1794-1807 issues. You can add pieces in even higher grades as they become available, which for some issues will not be often, if at all. For 1807-1836 issues build a set in MS-64 or finer grade, selecting each coin for its aesthetic quality. You may not be able to find the rare 1815 in this grade, however.