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Are you building your early U.S. silver coinage set? If so, you’re probably curious about the 1797 half dollar value and what it would be like to own this rare coin. The 1797 half dollar is the crowning glory of any Draped Bust collection. The United States Mint struck fewer than 4,000 of these coins, and today, fewer than 200 survivors are known to exist.
Beyond its historically low mintage, the 1797 half dollar was the last to feature the Small Eagle design, making it even more desirable to collectors.
This guide will take you through everything you need to know about the 1797 Draped Bust half dollar, from its fascinating history and distinctive features, to grading tips and high-value minting errors and varieties that can significantly enhance your coin’s value.
So, without further ado, let’s jump in and find out: How much is a 1797 half dollar today?
1797 Half Dollar Value Chart |
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| Mint Mark | Good | Fine | Extremely Fine | Uncirculated |
| 1797-No Mint Mark Half Dollar Value | $52,500 | $68,500 | $250,000 | $1,500,000 |
History of the 1797 Half Dollar
The 1797 half dollar is part of the fascinating Draped Bust series, which the United States Mint produced from 1795 to the 1850s. However, the half dollar itself was only minted in 1796 to 1797, with a combined mintage of only 3,918 coins. This exceptionally low mintage resulted from the Mint prioritizing the production of silver dollars and other smaller silver coins. In fact, between 1798 through to 1800, the Mint did not produce any half dollars.
The Draped Bust designed replaced the short-lived Flowing Hair design, which had only been minted in 1794 as the country’s first silver dollar. Henry Willian de Saussure, Director of the Mint at the time, is believed to have been instrumental in replacing the Flowing Hair design with the Draped Bust design. There was also growing public criticism of the Flowing Hair design, which contributed to its swift replacement.
Artist Gilbert Stuart is believed to have created the Draped Bust design while Philadelphia socialite, Ann Wiling Bingham may have served as the model. After Stuart submitted several drafts, President George Washington and Secretary of State Thomas Jefferson approved the final design, paving way for production.
Minting of the Draped Bust coinage began in late 1795, starting with silver dollars, followed by half dollars, quarters and dimes. During this time, Henry de Saussure resigned and was succeeded by former bureaucrat, Elias Boudinot. Boudinot ordered a return to minting silver coin in an 89.2% fineness, correcting the 90% fineness Mint workers had resorted to using in earlier silver coinage.
A decline in silver bullion supplies led to a drastic reduction in the production of Draped Bust coinage. The silver supplies were so low that the Mint struck less than 4,000 silver half dollars between 1796 and 1797, making this the lowest half dollar mintage in the entire series. The Mint did not break down the mintage figures but what is certain is that both the 1796 and 1797 half dollars are the stars of any Draped Bust set.
Due to its low mintage, the 1797 Draped Bust half dollar is extremely scarce in all grade and Mint State examples are genuinely rare. According to the Professional Coin Grading Service (PCGS), there are possibly less than 200 surviving examples of the 1797 half dollar and only two known Mint State specimen: one graded MS66 and the other in the range of MS65/MS66.
Features of the 1797 Half Dollar
Understanding the features of the 1797 half dollar will help with grading, authenticating your silver coins and identifying Draped Bust half-dollars worth money.
Obverse of the 1797 Half Dollar
On the front side, the 1797 half dollar features a right-facing Liberty with a few strands of her hair held with a ribbon while the rest of the hair blows in the wind. Her busty portrait is adorned in elegant drapey clothing.
The word LIBERTY is arched boldly above her head while the date, 1797, is displayed below. On 1797 half dollars, there are 15 stars on the obverse, 8 on the left and 7 on the right. This is a change from the 16 stars found on the 1796 half dollars.
Reverse of the 1797 Half Dollar
The reverse shows a small eagle with its wings spread wide open. The eagle is perched on a billow of clouds and is flanked by a laurel of leaves tied in a bow at the bottom.
Just below the ribbon or bow is the fraction, 1/2, indicating half a dollar. The words UNITED STATES OF AMERICA are etched in a curve all around the circumference.
The edge is lettered with the words FIFTY CENTS OR HALF DOLLAR, indicating the coin’s denomination.
Other Features of the 1797 Half Dollar
Additional features of the 1797 half dollar include:
- Diameter: 32.50 millimeters
- Weight: 13.48 grams
- Edge: Lettered: FIFTY CENTS OR HALF A DOLLAR
- Metal composition: 90% Silver, 10% Copper
- ASW: 0.3866oz
- Fineness: 0.892
1797 Half Dollar Value Guides
The 1797 half dollars were minted at the Philadelphia Mint, the only existing mint at the time. An estimated 3,918 examples were produced but some were a carry-over from 1796.
All in all, the 1797 half dollars recorded one of the lowest mintages in the entire Draped Bust series. In addition, the coin was the last to feature the Small Eagle design, making it even more historically significant and highly sought-after.
Very few circulated examples exist and those that do are heavily worn and difficult to grade. Mint State specimens are equally rare, with only two known examples in the MS64/65 range. All these factors add to the mystery and attractiveness of the 1797 half dollar.
Here’s a breakdown of the values:
Circulated examples: So scarce are these coins that even lower grade examples will fetch a fortune. For example, one graded Good will sell for as much as $52,500, an Extremely Fine (XF) example will command about $125,000 while an About Uncirculated (AU58) will bring in up to $250,000.
Mint State example: These are genuinely rare and will command premium prices as well, even in lower grades. For example, an MS60 will sell for up to $285,000 and an MS63 for as much as $425,000. The rare MS65 commands prices as high as $1,500,000 or more.
Auction record: In 2023, Heritage Auctions sold an MS65+ for a record-shattering $1,560,000, making this the most expensive 1797 half dollar to date.
Also Read: Top 11 Most Valuable Half Dollar Coins in Circulation
1797 Half Dollar Grading
Grading old coins such as the 1797 half dollars can be challenging because most of the surviving examples are heavily worn and often ungradable. That said, in general, grading Draped Bust halves involves assessing the coin’s level of wear and visibility of details.
Here is a brief guide to help you along:
Good (G4-G6)
The coin shows heavy wear with the rims merged into the fields. Liberty’s profile shows little to no outline while the date, stars, and inscriptions are faint. On the reverse, the eagle’s feathers are flattened and outline is very weak, almost missing.
Fine (F12-F15)
Coin details are moderately worn but are slightly more visible than lower grades. The rim is lightly merged into the surface but the outline is visible. There’s a faint outline around Liberty’s bust and some lines to define her hair strands. The stars, date and inscriptions are visible and easily readable. The eagle on the reverse shows stronger details on the feathers while only some of the laurel leaves are visible.
Extremely Fine (X40-X45)
The coin shows only light wear but most of the details are highly visible. Liberty’s hair strands are sharp although light wear is noticeable on the hair around her forehead. All the stars are visible and the date and inscriptions are crisp. The eagle’s wings and laurel leaves show strong details. Some original luster might be present on the non-high-contact points.
Uncirculated (MS60-MS70)
The coin shows no signs of wear, except for minor contact marks. Liberty’s hair and bust show full, sharp details while the eagle’s wings and laurel wreath are crisp. The full mint luster is intact with the coin showing a brilliant, shiny, flawless surface.
Rare 1797 Half Dollar Errors List
Minting errors can increase the value of your coin by anything from a few dollars to hundreds and even thousands of dollars. When collecting the 1797 half dollar, there are major minting errors and die varieties to pay attention to, as they can be worth a premium.
Here’s what to watch for:
Overton Grading System
Before we learn more about the 1797 50C Overton 101 variety, let’s first talk about the Overton grading system. This system was developed by numismatist Al C. Overtone to classify early U.S. half dollars based on the die pairing used to strike these coins.
The grading numbers start from 101 and increase upward. Die pairings with a notable crack or wear is categorized as a sub-variety such as 0-101a etc.
1. 1797 50C Overton 101 Variety
The Overton 101 (O-101) variety of the 1797 shows sharp details as new dies were used to strike these coins. With this die pairing, you’ll notice the date on the obverse is large and evenly spaced and 15 stars flank Liberty’s portrait. The reverse features the small eagle design.
2. 1797 50C Overton 101a
The O-101a sub variety is a late die state so the dies show moderate wear and cracks on the obverse and reverse. This variety however features the same design as the O-101.
3. 1797 50C Overton 102
The O-102 variety features a more compact date but more importantly it shows 16 instead of 15 stars, likely an engraving error.
The reverse design remains the same with the small eagle and ½ symbol representing the coin’s denomination.
The O-102 variety is less common than the O-101 variety and is therefore a highly sought-after die pairing.
4. 1797 Half Dollar Off-Center Strike Error
A distinct error that comes up in the 1797 half dollar series is the off-center strike. This error occurs when the die and planchet are misaligned, resulting in the design being struck further away from the center.
The greater the misalignment, the more appealing the error and the more valuable it tends to be. For example, a 40% off-center strike will generally be more valuable than a 20% off-center strike.
An off-center strike error can add $100-$200 to the value of your 1797 half dollar.
5. 1797 Half Dollar Die Crack Error
Another common error in the series is the die crack, seen mostly in late die states. Die cracks are formed when the die cracks and leaves gaps and metal flows in to fill these gaps, creating raised lines on the coin’s surface.
As the die continues to strike, it’ll leave an impression of the raised lines on the coin’s surface, also known as, die cracks.
The value of a die crack error mostly depends on its size and eye-appeal. Larger die crack errors with a unique appearance will generally command high prices.
A die crack error will boost your coin’s value by $20- $100 depending on its size and uniqueness.
Where to Sell Your 1797 Half Dollar?
Now that you know the value of your coins, do you know where to sell those coins online easily? Don’t worry, I’ve compiled a list of these sites, including their introduction, pros, and cons.
Check out now: Best Places To Sell Coins Online (Pros & Cons)
FAQS
Why is the 1797 half dollar so rare?
Production of silver coinage, including the half dollar fell drastically between 1975 and 1800 due to low sliver bullion supplies. For this reason, the Mint only struck about 3,918 1797 half dollars, one of the lowest mintages in the entire Draped Bust series. Over the years, many wore out, and some were lost or melted, leaving very few surviving examples today.
What makes the 1797 half dollar special?
Aside from the historically low mintage, some varieties of the 1797 half dollar have 15 stars while others have 16 stars on the obverse. This was also the last year the Small Eagle design was used before it was replaced by the heraldic eagle.
How can I check if my 1797 half dollar is real?
Inspect the main features such as the weight (13.48 grams), diameter (32.50 millimeters) and edge letters (FIFTY CENTS OR HALD A DOLLAR). You can also perform the magnet test using a strong magnet—if the coin sticks, it is not silver but you should also confirm it is not some other non-magnetic metal. The coins should be 90% Silver, 10% Copper.
The post 1797 Half Dollar Coin Value: How Much Is It Worth Today? appeared first on CoinValueChecker.com.
