Ron Guth:
Production of 1854 Half Dimes was high, but not nearly to the extent of the previous year. The arrowheads were retained in 1854 to allow for quick identification of the old and new versions.
Because of the large mintage, the 1854 Half Dime is easy to obtain in most grades, including Mint State. By far, the most common Mint State grade is MS64, followed by MS63. Gems are relatively common, but superb examples are very scarce to rare. Only a single PCGS MS67 has been recorded, with none finer.
Fully struck 1854 Half Dimes are rarely seen, as most have weak denticles ranging from slightly soft to very weak.