08/14/2026
A fantastic find I made a few days ago! Absolutely thrilled with this one! It is a contemporary counterfeit 1832 capped bust half dollar. This one was made on a 50% silver/50% copper planchet, rather than a 90% silver planchet. The diameter and weight are correct for an original, but a few key details give this away as a period counterfeit.
The New Orleans mint smelter J. L. Riddell warned of the high prevalence of circulating counterfeit Capped Bust half dollars in an 1845 notice to the public. New Orleans authorities reported the seizure of 87 different varieties of counterfeit half dollars, showing just how many passed as real with the general public. Keith R. Davignon, author of "Contemporary Counterfeit Bust Half Dollars" notes that some of the 1832-dated counterfeits have a strong connection to the Philadelphia Mint. Counterfeit working dies were prepared with “hubs and numeral punches that all match those used in the U.S. Mint.” This has lead to the theory that someone at the Mint was part of the ring, or the actual counterfeiter himself.
Note the inconsistencies in the spacing and clarity of the letters, as well as the "0" in "50 C", which appears to have been put in sideways on the first strike. Many of the details, including the shield and feathers, are carefully hand tooled and then intentionally worn down to make the piece appear as though it has circulated for quite some time.
This is 1 of 22 known varieties made by this counterfeiter. Most of the 22 varieties are fairly rare (based on current survival documentation). This variety has about 5 examples known. The last slide shows another of the five examples of my counterfeit for comparison.
This piece was likely struck in the late 1830s during the economic crisis known as the Panic of 1837, which was a severe financial depression that lasted until the mid 1840s, leading to a scarcity of gold/silver coins in the US, as well as a sky high unemployment rate. To further fuel the ripe environment for counterfeiters, in 1832, the US reduced the penalty for counterfeiting currency from a capital punishment (death by hanging) to a felony with prison and/or a fine instead.
