1812 50C Capped Bust Half Dollar, O-103 NGC MS62 (CAC)

Better date Capped Bust half dollar in a collectible mint state grade. Attractive piece with original golden-brown patina on both sides. Die cracks are found on the reverse. NGC has graded 62 as MS62 with 160 finer. In CAC, there are 6 in MS62 with 38 finer.

This Capped Bust half dollar very well may have been found among those of the famed Economite hoard, discovered in 1878. This hoard was put together by the Harmony Society, a separatist religious organization that had a community in Economy, Pennsylvania. When the hoard was uncovered, there were over 118,000 silver coins--and Capped Bust half dollars totaled 111,356 of them.

Harmony Society building in Pennsylvania, constructed in 1809. The Economite Hoard of silver coins, including 111,356 Capped Bust half dollars, was found on the grounds there.

Numismatic mythology tells us that such coins did not circulate and were used solely as bank reserves, as a backup to the widespread private paper currency of the day. However, the existence of the Economite hoard proves this to be a fabrication. The Harmony Society had woolen and cotton mills, a grain mill, a wine press, a hotel, post office, stores and farms in Pennsylvania. Many Capped Bust half dollars from that stockpile are circulated, proving that the popular series was indeed used in everyday business. There were both uncirculated and circulated examples found within the hoard. Plus the many circulated examples found at coin shows and in collections are additional evidence. NGC Coin Explorer tells us, "The overwhelming majority [of Capped Bust half dollars] saw use in daily commerce, though their high face value (nearly half a day’s pay for many workers) limited that use drastically."