The 1831 Half Cent with the reverse of the Braided Hair type is clearly a restrike made at a later date. All were struck as Proofs and the mintage was extremely low. Some researchers have suggested that as many as a dozen were made, but that is pure speculation since no mint records exist for early American Proof coins. Today, at least five demonstrably different examples are known and there may be as many as two additional examples. These restrikes were made with the sole purpose of creating rarities for sale to collectors who desired to own an example of the rare 1831-dated Half Cent. Today, they are eagerly sought after as important collectibles. The finest example known is the PCGS PR66RB coin from the Louis Eliasberg collection (now part of Jim McGuigan's fabulous collection of Half Cents).
No Red examples are know of this date. Of the five examples certified by PCGS, three are Brown and two are Red-Brown.