By Charles Morgan and Hubert Walker for CoinWeek Notes …..
The Draped Bust Small Eagle Half Dollar was minted for just two years, as was the Flowing Hair type that preceded it. No halves were minted from 1798 through 1800, and when the series resumed in 1801, the design was changed again. The obverse retained the Draped Bust design, but the reverse featured the Heraldic Eagle introduced on the Draped Bust Dime and Dollar in 1798 and the Draped Bust Half Dime in 1800.
The eagle on the reverse was drawn from the Great Seal of the United States and engraved by Chief Engraver Robert Scot from an impression by artist John Eckstein.
Early mintages of the new half dollar type were higher than the last year of the Small Eagle reverse but not excessively so; the total number of coins minted in 1801 and 1802 was approximately 30,000 pieces each year. The mintage jumped to around 200,000 coins in 1803 and 1805. In 1806, the Philadelphia Mint struck 840,000 pieces.
No 1804-dated half dollars were produced, but the existence of an 1805/4 Draped Bust Half Dollar indicates that 1804-dated dies were prepared. United States Mint records indicate that over 155,000 half dollars were produced in 1804 using 1803-dated dies.
Many Draped Bust Half Dollars survive, making this series attractive to intermediate and advanced collectors. The Draped Bust Heraldic Eagle Half Dollar is considered one of the few early U.S. coin types for which a complete date series can be easily assembled. The availability of higher-grade circulated coins–and many uncirculated examples for most dates–is owed to the fact that the half dollar, being a considerable amount of money in the early 19th century, was struck primarily for banking purposes. When the coin-collecting hobby began to bloom in the 1850s, many of these coins were readily available.
How Much Are Draped Bust, Heraldic Eagle Half Dollars Worth?
Prices of Draped Bust Heraldic Eagle Half Dollars are modest at low grades, advancing as the grades approach Extra Fine and finer. Coins in this series are generally expensive in Mint State, especially examples with good eye appeal and CAC approval.
Reflecting lower mintage totals, 1801 and 1802 coins are more expensive at all grades and very expensive at About Uncirculated and finer. The 1806 Knob 6 No Stem variety is rare and unknown in grades finer than XF40. The last two examples to sell at auction brought $84,000 and $105,750.
No Proofs are known.
Exclusive Coverage on CoinWeek
Charles Morgan Talks About the Draped Bust Half Dollar
In the videos above, CoinWeek Editor Charles Morgan talks about the 1802 Overton-101 and 1803 Overton-103 Draped Bust Heraldic Eagle Half Dollars.
Counterfeit Detection
Jack Young and the “Dark Side” Facebook group investigate a “family” of fake 1806 half dollars and provide important tips to help you avoid fake coins online.
Greg Reynolds on the Important Coins
- Key Date Coins: 1801 Draped Bust Half Dollars – Heraldic Eagle
- Draped Bust 1807 Half Dollars, With Mention of a Gem-Quality Coin ‘In the News’!
- The Fabulous Eric Newman Collection, Part 8: Draped Bust Heraldic Eagle Half Dollars
U.S. coin expert and CoinWeek contributor Greg Reynolds writes about some of the important individual specimens of the Draped Bust Heraldic Eagle Half Dollar that have come to public auction in recent years.
Design
Obverse:
The obverse prominently displays Liberty in the center of the coin, her long flowing hair swept backward down her neck and tied at the back with a ribbon. Folded drapery is placed across her bust and shoulder. Thirteen six-pointed stars (seven to the left and six to the right), the word LIBERTY at the top, and the date at the bottom form a circle inside the denticulated rim.
Reverse:
The reverse features a left-facing Heraldic Eagle, wings outstretched with the tips extending nearly to the denticulated or beaded border. A shield covers most of its body, and the eagle holds in its beak a loop of a ribbon that displays the motto E PLURIBUS UNUM, positioned in front of the right wing and back of the left. The eagle’s sinister claw (viewer’s right) clutches several arrows, and the dexter claw (viewer’s left) holds an olive branch. The legend UNITED STATES OF AMERICA nearly circles inside the rim, the words separated by the eagle’s wingtips and tail. Above the eagle are 13 small six-pointed stars in two arcs, six at the top and five below, with an additional star on each side of the eagle’s head. Above the stars, below the words STATES OF, is an arc of clouds. The denomination no longer appears on the reverse as it did on the previous type. All coins were produced in Philadelphia and have no mintmark.
Edge:
The edge of the Draped Bust Heraldic Eagle Half Dollar is lettered with the inscription FIFTY CENTS OR HALF A DOLLAR, each word separated by a circle, rectangle, or star ornament.
Varieties
The Guide Book (Red Book) lists 12 varieties; some are scarce or rare. The most popularly collected are the 1803 Large 3 and Small 3; the 1805/4 overdate mentioned above–the first recorded use of an overdate on half dollar coinage, by the way; the 1806/5; the 1806/9 (considered an Inverted 6 rather than a 9); the 1806 E/A (STATES over STATAS); and the 1806 No Stem and With Stem (referring to the presence or absence of the end of the olive branch in the eagle’s left claw), Large Stars and Small Stars, and Knob 6 and Point 6 (referring to the shape of the top extension of the digit 6) in various combinations. Other varieties with minor differences in device placement or size are also known.
Coin Specifications
| Draped Bust Half Dollar, Heraldic Eagle | |
| Years of Issue: | 1801-07 |
| Mintage: | High: 839,576 (1806, all varieties); Low: 29,890 (1802) |
| Alloy: | 89.24% silver and 10.76% copper |
| Weight: | ±13.48 g |
| Diameter: | ±32.50 mm |
| Edge: | Lettered: FIFTY CENTS OR HALF A DOLLAR (words separated by circle, rectangle, or star ornaments) |
| OBV Designer: | Robert Scot and John Eckstein |
| REV Designer: | Robert Scot and John Eckstein |
| Quality: | Business Strike |
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Additional References
Bowers, Q. David. The Experts Guide to Collecting & Investing in Rare Coins. Whitman Publishing.
–. A Guide Book of United States Type Coins. Whitman Publishing.
Breen, Walter. Walter Breen’s Encyclopedia of U.S. Coins. Doubleday.
Guth, Ron and Jeff Garrett. United States Coinage: A Study by Type. Whitman Publishing.
Parsley, Donald L. United States Early Half Dollar Die Varieties, 1794-1836. Donald L. Parsley.
Taxay, Don. The U.S. Mint and Coinage. Arco Publishing.
Yeoman, R.S. and Kenneth Bressett (editor). The Official Red Book: A Guide Book of United States Coins. Whitman Publishing.
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