Capped Bust Half Dime Identification Guide: LM Varieties, Key Dates, and Values

History: Reviving the Half Dime in 1829

The half dime is the oldest denomination in American federal coinage — the very first coins struck under the Mint Act of 1792 were the legendary 1792 half dismes, reportedly produced from silver supplied by George Washington himself. The denomination continued through the Flowing Hair (1794-1795) and Draped Bust (1796-1805) series, then disappeared entirely. From 1806 to 1828, no half dimes were struck at all: the Mint focused its silver capacity on the dime, quarter, and half dollar, and the five-cent silver piece was simply not a priority.

That changed in 1829. By the late 1820s the Philadelphia Mint had adopted the close-collar steam press technology championed by Mint Director Samuel Moore, which made it practical to strike small, uniform silver planchets at speed. With the production bottleneck solved, the Mint resumed half dime coinage in July 1829 using a reduced version of John Reich's Capped Bust design — the same allegorical Liberty that already appeared on the Capped Bust Dime and the larger silver denominations.

The series ran nine years, every year from 1829 through 1837, with no skipped dates — a refreshing contrast to the gap-filled Capped Bust Dime calendar. In 1837 the Capped Bust design gave way to Christian Gobrecht's new Seated Liberty Half Dime, which would carry the denomination until its abolition in 1873. Like the dime, 1837 is an overlap year: both Capped Bust and the first Seated Liberty (No Stars) half dimes were struck that year.

The Designers: John Reich and William Kneass

The obverse Capped Bust design originated with John Reich (1768-1833), the Bavarian-born Assistant Engraver who created the entire second-generation federal silver family between 1807 and 1817. By 1829, however, Reich had long since resigned, and the half dime's working hubs were prepared under Chief Engraver William Kneass (1781-1840), who reduced Reich's bust for the tiny half dime field and engraved the reverse. Kneass is the same engraver who later modified the Capped Bust Quarter to its Small Size in 1831. Because two hands shaped the series, you will sometimes see the design credited to "Reich/Kneass."

Reich's design philosophy — a sturdier, more classical Liberty than Robert Scot's earlier Draped Bust figure — carried through to the half dime. For the broader context of Reich's design family, see the Capped Bust Half Dollar guide, which traces the original 1807 prototype.

Design: Reich's Capped Bust, Reduced

Understanding every design element is essential for accurate variety attribution and authentication. The half dime is the smallest of the capped-bust silver coins, so the design is densely packed and details are easily lost to wear.

Obverse (Heads Side)

The obverse depicts Liberty facing left, her hair tied up in a soft cloth cap (a "mob cap" or "turban") with a band across the front inscribed LIBERTY. Hair curls flow down her neck behind the cap. Seven six-pointed stars appear to the left and six to the right, totaling thirteen for the original colonies. The date appears in the exergue beneath the bust truncation. The portrait is the same one used on the dime, scaled down for the half dime's smaller field, so the two coins look nearly identical except for size.

Reverse (Tails Side)

The reverse shows a spread eagle with a Union shield on its breast, three arrows in the right talon and an olive branch in the left talon. The eagle's beak holds a scroll inscribed E PLURIBUS UNUM. Around the eagle is the legend UNITED STATES OF AMERICA. The denomination 5 C. appears below the eagle. Note the use of "C." for "cents" — the half dime spells the denomination "5 C." just as the dime uses "10 C." This abbreviated style is a useful diagnostic: any "Capped Bust" five-cent piece marked "HALF DIME" or "5 CENTS" in full is not genuine.

Edge

All Capped Bust Half Dimes have a reeded edge produced by the close collar. Because the series began under close-collar production, there is no "open collar" sub-type to worry about — unlike the Capped Bust Dime, which split into Large Size (open collar) and Small Size (close collar). Every Capped Bust Half Dime is, in effect, a "small size" close-collar coin.

Designer Initials

The Capped Bust Half Dime is unsigned — neither Reich nor Kneass placed an initial on the coin. New collectors sometimes search the field for a designer mark; there is none. The absence of initials is normal for this series.

Composition and Specifications

Knowing the metal content and weight is essential for both authentication and bullion-floor valuation. Half dime specifications were stable across the entire Capped Bust run.

Weight and Fineness

• Weight: 1.35 grams (nominal).
• Diameter: 15.5 mm.
• Composition: 0.8924 silver / 0.1076 copper (89.24% silver — the "standard silver" specification inherited from the 1792 Mint Act).
• Edge: Reeded.

Silver Content

A Capped Bust Half Dime contains approximately 0.0387 troy ounces of pure silver — exactly half the silver content of the contemporary Capped Bust Dime. At a silver spot of $30/oz the bullion floor is only about $1.16. In practice no problem-free Capped Bust Half Dime should ever sell at melt, because the numismatic premium for every date in the series far exceeds the trivial silver value.

Weight as Authentication Tool

Use a jeweler's scale accurate to 0.01 grams. Tolerance for genuine coins is roughly ± 0.05 g. Cast counterfeits often weigh under standard because period casting alloys were less dense, and base-metal struck fakes can be caught by weight combined with specific-gravity testing. The same authentication discipline applies to the broader early federal silver family — for the parallel diagnostic on the larger denomination, see the Capped Bust Dime guide.

Mint Marks: A Philadelphia-Only Series

Every Capped Bust Half Dime was struck at the Philadelphia Mint. There are no branch-mint Capped Bust Half Dimes — the first branch-mint half dime is the 1838-O Seated Liberty Half Dime from New Orleans, which began operations after the close of the Capped Bust series.

What This Means for Identification

No Capped Bust Half Dime carries a mint mark. Any "Capped Bust" half dime offered with an "O," "S," "CC," or "D" mint mark is either a counterfeit or an altered modern fantasy. This is one of the simplest authentication tests in early American silver: if it has a mint mark, it isn't real.

The Implication for Series Difficulty

Because the series is Philadelphia-only and runs only nine consecutive years, a complete date set is one of the most attainable early-silver type runs you can assemble — far easier than a date-and-mint-mark set of Seated Liberty Half Dimes. The only attribution variables are date and die variety (LM-number), which keeps the basic set simple while leaving deep room for specialists.

The LM and Valentine Variety Systems

Like its sister denominations, the Capped Bust Half Dime was struck from hand-prepared dies on which stars, dates, and the denomination were individually positioned. Each die produces distinct micro-diagnostics, and across nine years roughly 90 obverse-reverse die marriages are catalogued. Two reference systems are in use.

Valentine (V) Numbers

The earliest standard reference was Daniel Valentine's 1931 monograph "The United States Half Dimes," which assigned "V" numbers to the die marriages of both the Capped Bust and early Seated series. For nearly seventy years, collectors attributed coins by Valentine number (for example, 1829 V-1).

Logan-McCloskey (LM) Numbers

The modern standard is the Logan-McCloskey numbering system from Russell Logan and John McCloskey's "Federal Half Dimes 1792-1837" (1998), published by the John Reich Collectors Society. LM numbers are the references you will see on PCGS and NGC variety-attributed slabs today — for example, 1829 LM-1, 1835 LM-8. Most catalogs cross-reference the older V numbers alongside LM numbers, so you may see attributions written as "1829 LM-1 (V-1)."

How the Numbers Work and Why They Matter

Each unique obverse-reverse die pairing receives an LM number per date, assigned in approximate order of rarity. Attribution requires matching obverse diagnostics (star position, date placement, die cracks) with reverse diagnostics (the size and position of "5 C.", berry count on the olive branch, denticle alignment). A scarce die marriage of an otherwise common date can be worth several times a common variety of the same year, so serious collectors always attribute before pricing. The same kind of variety depth drives value in the parallel Capped Bust Dime (JR numbers) and Capped Bust Quarter (Browning numbers) series.

Notable LM Varieties

• 1829 LM-1 through LM-13: The first year offers a dozen-plus die marriages, popular with first-year specialists.
• 1835 Large Date / Small Date and Large 5C / Small 5C: Four combinations of date and denomination size, each a distinct sub-variety.
• 1836 Large 5C / Small 5C: Two reverse denomination sizes.
• 1836 3 over inverted 3: A dramatic repunched-date variety where an inverted 3 was first entered, then corrected.
• 1837 Large 5C / Small 5C: The final-year denomination-size split; the Small 5C is the scarcer and more sought-after of the two.

Key Dates and Major Varieties

The Capped Bust Half Dime has no single overwhelming "king" date the way the Capped Bust Dime has its 1822. Instead, the series value is driven by a handful of scarce varieties and by condition rarity. Memorize these — they are where premiums and counterfeits concentrate.

Scarce Dates and Varieties

• 1837 Small 5C: The most desirable regular-issue variety, with the smaller denomination punch on the reverse. F-12 ~$120, XF $400+, MS-63 $2,500+.
• 1836 3 over inverted 3: A popular repunched-date variety. F-12 ~$100, XF $350+.
• 1835 Small Date, Small 5C: The scarcest of the four 1835 date/denomination combinations. F-12 ~$80, XF $300+.
• 1829 (first year): Popular as the reintroduction year; common overall but always in demand. F-12 ~$60, XF $200+.
• Certain LM die marriages: Several individual die marriages across 1829-1837 are R-5 or scarcer and command large premiums regardless of date.

Common Dates

Most dates — 1830, 1831, 1832, 1833, 1834, and the common 1835 and 1837 varieties — are genuinely affordable in circulated grades. A collector can assemble a complete date set without ever encountering a true rarity, which is exactly what makes the series so beginner-friendly compared with most early federal silver.

Condition Rarities

Even among common dates, high-grade examples (MS-64 and above) command large premiums because almost no one set aside half dimes in the 1830s — they were small-change coins that circulated hard for decades. A common-date 1832 worth $40 in F-12 might bring $1,200 in MS-64 and $4,000+ in MS-66. Gem Mint State Capped Bust Half Dimes from any date are scarce, so the series rewards condition-set collectors as much as date-set collectors.

The 1837 Transition to Seated Liberty

1837 is the most historically interesting year of the series because it straddles two designs. Early in 1837 the Mint struck Capped Bust Half Dimes (in both Large 5C and Small 5C reverse varieties); later in the year, Christian Gobrecht's new Seated Liberty Half Dime (the No Stars sub-type) entered production. Both designs are dated 1837, so a collector can own two completely different half dimes of the same year.

Why the Change Happened

Mint Director Robert Patterson wanted a unified, modern look across all silver denominations. Gobrecht's seated figure of Liberty — adapted from sketches by Thomas Sully and Titian Peale — replaced Reich's bust on every silver coin between 1836 and 1840. The half dime and dime led the conversion in 1837; the quarter and half dollar followed in 1838 and 1839. The same transition story plays out across the silver family — see the Seated Liberty Dime guide for the parallel No Stars first year.

Telling the 1837 Types Apart

The two 1837 half dimes are not easily confused once you know the designs: the Capped Bust shows Liberty's bust and cap, while the Seated Liberty shows a full seated figure holding a shield and liberty pole. If you have an 1837 half dime, simply check whether Liberty is a bust (Capped Bust) or a seated figure (Seated Liberty). Within the Capped Bust 1837 issues, then determine Large 5C vs Small 5C on the reverse.

Overdates and Repunched Dates

Because dies were hand-dated and occasionally corrected at the Mint, the Capped Bust Half Dime series includes several repunched and corrected-date varieties. These are among the most collectible diagnostics in the series.

1836 3 over Inverted 3

The most famous date-punch error in the series. An engraver first entered the final 3 of the date upside down, then corrected it by punching a normal 3 over the inverted one. Under magnification, the remnants of the inverted 3 are visible within and below the corrected digit. This is a dramatic and popular variety that commands a clear premium over the normal 1836.

Repunched Dates and Stars

Numerous LM die marriages across 1829-1837 show repunched date digits or repunched stars, where the engraver's first entry was slightly misaligned and re-entered. These are subtler than the 1836 3-over-inverted-3 but are catalogued in the Logan-McCloskey reference and add depth for specialists. Always examine the date and stars under 10x magnification before concluding a coin is a "common" variety.

Date and Denomination Size Varieties

Distinct from true overdates, the Large Date / Small Date and Large 5C / Small 5C distinctions of 1835, 1836, and 1837 reflect different punch sizes used on the dies rather than corrections. They are nonetheless treated as separate collectible varieties and are the most commonly encountered "variety" decisions a Capped Bust Half Dime collector will face.

Grading Capped Bust Half Dimes

Capped Bust Half Dime grading follows the Sheldon 70-point scale, with diagnostic wear points particular to the small design. Accurate grading matters because price-grade curves are steep — the jump from F-12 to VF-20 on a scarce variety can mean a doubling of value.

Key Wear Points

The earliest wear shows on Liberty's hair curls above and behind the ear and on the high points of the cap. Next, the eagle's wing feathers and the lines of the breast shield lose definition. The word LIBERTY on the cap band should be fully readable down to about F-12; in lower grades, individual letters disappear. Because the coin is so small, wear concentrates quickly, and the difference between adjacent grades can hinge on whether one or two letters of LIBERTY remain.

Grade Definitions

• About Good (AG-3): Date legible, outlines of bust and eagle visible. LIBERTY mostly worn off.
• Good (G-4 to G-6): Full date, rim mostly visible. LIBERTY partly readable. Bust outline complete.
• Very Good (VG-8 to VG-10): All major features visible. LIBERTY readable but weak. Most hair detail flat.
• Fine (F-12 to F-15): LIBERTY clear. Hair shows some detail. Eagle wings show feather separation in protected areas.
• Very Fine (VF-20 to VF-35): LIBERTY sharp and bold. Most hair curls distinct. Eagle wings show clear feather separation.
• Extremely Fine (XF-40 to XF-45): Light wear on highest points only. All details sharp. Some mint luster may remain in protected areas.
• About Uncirculated (AU-50 to AU-58): Trace wear on highest points only. Significant mint luster.
• Mint State (MS-60 to MS-70): No wear. Graded by strike quality, surface preservation, and luster.

Strike Quality

Capped Bust Half Dimes can show striking weakness on the obverse stars and on the eagle's wing tips and shield lines. A weakly-struck XF coin may at first glance resemble a worn AU. Always distinguish honest wear from original strike softness — the Logan-McCloskey reference notes typical striking characteristics for many die marriages, which helps determine whether softness is wear or strike.

Authentication and Spotting Counterfeits

Capped Bust Half Dimes are small and relatively low in value, so they are less heavily counterfeited than gold or scarce key-date silver. Still, fakes exist in three categories: contemporary 19th-century circulation counterfeits, mid-20th-century coin-show fakes, and modern struck counterfeits. The scarcer varieties (1837 Small 5C, 1836 3-over-inverted-3) attract the most attention.

Weight and Specific Gravity

Standard weight is 1.35 g ± 0.05 g. Specific gravity for the 89.24% silver alloy is approximately 10.34. Cast lead-tin counterfeits typically test well below that, and base-metal silver-plated fakes are lower still. A precision scale and a specific-gravity test are the most reliable starting tools — especially valuable on a coin this small, where visual diagnostics are harder to read.

Mint Mark Additions

Any Capped Bust Half Dime with a mint mark is fake. Period. The Philadelphia Mint did not strike mint-marked half dimes until the 1838-O Seated Liberty Half Dime. A "Capped Bust" half dime with an "O" mint mark is a contemporary forgery, a modern fantasy strike, or an altered Seated piece.

Surface and Variety Diagnostics

Genuine Capped Bust Half Dimes show crisp close-collar reeding, occasional adjustment marks (faint parallel file marks from planchet weight correction), and die characteristics that match a known LM marriage. Cast counterfeits show pebbly surfaces, soft details, and seam tooling at the rim. Struck modern fakes are often too smooth or have mushy lettering. A coin that does not match any catalogued LM die marriage should be treated with suspicion. The same authentication discipline applies across early federal silver — see the Draped Bust Dollar guide for related counterfeit-detection methods.

Third-Party Grading

For any Capped Bust Half Dime worth more than $200 — and certainly for the 1837 Small 5C, the 1836 3-over-inverted-3, or any Mint State example — third-party authentication through PCGS or NGC is strongly recommended. LM variety attribution is offered as an add-on service and is essential for accurate valuation of scarce die marriages.

Current Market Values and Price Guide

Values below are approximate retail for problem-free, original coins as of 2026. Auction results, cleaned coins, problem coins, and exceptional specimens vary widely. LM variety attribution can multiply these numbers for scarce die marriages.

Common Date Range (Most 1830-1834 and Common 1835-1837 Varieties)

• G-4: $35-$55
• F-12: $50-$75
• VF-20: $90-$140
• XF-40: $180-$300
• AU-50: $350-$550
• MS-63: $900-$1,500
• MS-65: $3,000-$5,000

Better Dates and Varieties

• 1829 (first year): F-12 $60, XF $200, MS-63 $1,400.
• 1835 Small Date, Small 5C: F-12 $80, XF $300, MS-63 $1,800.
• 1836 3 over inverted 3: F-12 $100, XF $350, MS-63 $2,200.
• 1837 Small 5C: F-12 $120, XF $400, MS-63 $2,500.

Condition Rarities and Scarce LM Marriages

• Common date in MS-66: $5,000-$10,000+ depending on eye appeal and strike.
• R-5 or scarcer LM die marriages: Large premiums over common varieties even in circulated grades; consult specialist auction records.

Pricing Resources

For current market data, consult the PCGS Price Guide, NGC Price Guide, and recent auction archives at Heritage Auctions, Stack's Bowers, and Great Collections. The "Greysheet" (Coin Dealer Newsletter) provides wholesale bid/ask pricing updated weekly. For LM-variety-specific pricing, the John Reich Collectors Society's John Reich Journal publishes specialist results not captured in general price guides.

Building a Capped Bust Half Dime Collection

The Capped Bust Half Dime can be collected at many levels of depth and budget. Here are the most popular strategies.

Type Coin (1 Coin)

The simplest approach: a single representative example for a 19th-century silver type set. A VF common date runs roughly $90-$140 — one of the more affordable early-silver type coins available, far cheaper than a Capped Bust Half Dollar type coin.

Date Set (9 Dates)

One example of each year, 1829 through 1837. Because there are no rare dates and no skipped years, an F-VF date set can be assembled for roughly $500-$800 total — making it one of the most attainable complete early-silver runs in all of US numismatics.

Major Variety Set

Add the popular varieties: 1835 Large Date/Small Date and Large 5C/Small 5C, 1836 Small 5C and 3-over-inverted-3, and 1837 Small 5C. This expands the set to roughly 15-18 coins and captures the heart of the series' variety appeal for a moderate budget.

LM Set (Specialist)

A complete LM-by-LM die marriage set is the ultimate specialist collection — roughly 90 die marriages across the series, several R-5 or scarcer. Membership in the John Reich Collectors Society is essential for serious LM collectors. The same depth of specialist collecting exists in the parallel Large Cent series via the Sheldon and Newcomb numbering systems.

Condition Set

Pursue every date in MS-63 or finer. About 9 coins; budget $10,000-$30,000+ depending on grade target. Gem Mint State Capped Bust Half Dimes are scarce in any date.

Cleaning, Toning, and Preservation

Capped Bust Half Dimes are nearly 200 years old. Most have circulated extensively, and many have been cleaned or tampered with at some point. Knowing what to look for protects your investment.

Original Surfaces

An original Capped Bust Half Dime shows soft cartwheel luster (on Mint State pieces), natural toning (gray, gold, or russet from album storage), and unbroken patina across protected areas. Faint adjustment marks under the design are normal striking artifacts. The fields should never look brilliantly bright on a circulated coin — bright fields signal cleaning.

Signs of Cleaning

Look for unnaturally bright fields, concentric hairline scratches (wheel polishing), random hairlines (rag wiping), pitted or "frosty" surfaces (acid dip), and milky residue in protected areas (incomplete rinsing). Cleaned Capped Bust Half Dimes are worth roughly 30-50% of problem-free pricing.

Storage Recommendations

Store Capped Bust Half Dimes in inert holders: PCGS / NGC slabs (for certified coins), Mylar 2x2 flips, or Saflips. Avoid PVC-containing soft flips, which leach acids and damage silver over time. Keep storage cool and dry (under 50% relative humidity). Never clean a Capped Bust Half Dime, no matter how dirty it looks — cleaning destroys value irreversibly. If a coin truly needs conservation, send it to NCS (NGC's conservation service) or PCGS Restoration rather than attempting home methods. The same preservation principles apply to all early federal silver — see the broader Complete Coin Identification Guide for general advice.

Frequently Asked Questions

What is the rarest Capped Bust Half Dime?

Unlike the Capped Bust Dime with its famous 1822, the half dime series has no single overwhelming key date. The most desirable regular issues are the 1837 Small 5C and the 1836 3-over-inverted-3, while several individual LM die marriages (R-5 or scarcer) command the highest premiums among specialists. Condition rarity also drives value: gem Mint State examples of any date are scarce.

Why were no half dimes made between 1805 and 1829?

The Mint suspended half dime production after 1805 to concentrate its limited silver capacity on the dime, quarter, and half dollar. The denomination resumed in 1829 once the close-collar steam press made it practical to strike small uniform planchets at speed.

Are there mint marks on Capped Bust Half Dimes?

No. Every Capped Bust Half Dime was struck at Philadelphia, which used no mint mark. Any Capped Bust Half Dime with a mint mark is fake. The first branch-mint US half dime is the 1838-O Seated Liberty Half Dime.

What is an LM number?

LM numbers identify specific obverse-reverse die marriages, catalogued by Russell Logan and John McCloskey in "Federal Half Dimes 1792-1837" (1998). They replaced the older Valentine (V) numbers as the modern standard. LM attribution can significantly affect value, since some die marriages are far scarcer than common varieties of the same date.

How much is a typical Capped Bust Half Dime worth?

Common-date Capped Bust Half Dimes bring roughly $35-$55 in G-4, $50-$75 in F-12, $180-$300 in XF-40, and $900-$1,500 in MS-63. Scarcer varieties like the 1837 Small 5C run higher, and gem Mint State examples of any date bring strong premiums. Always check the date AND the LM variety before pricing.

Should I clean my Capped Bust Half Dime?

Absolutely not. Cleaning destroys 30-70% of value irreversibly. Even "gentle" methods like distilled water rinses can disturb original surfaces enough to be detectable by graders. If a coin truly needs conservation, send it to NCS or PCGS Restoration — never attempt home cleaning.

How does the Capped Bust Half Dime compare to the Seated Liberty Half Dime?

The Capped Bust Half Dime (1829-1837) is the earlier, shorter series with John Reich's bust design, struck only at Philadelphia. The Seated Liberty Half Dime (1837-1873) is the longer-running successor with Christian Gobrecht's seated figure, struck at several mints with many more dates and varieties. Both are 89.24% silver in their earliest issues. The Capped Bust series is the easier complete date set; the Seated series offers a far deeper date-and-mint-mark scene.