1861 Confederate Half Dollar

In the spring of 1861, the Confederate States of America controlled the United States Mint in New Orleans. For a brief window, Confederate officials used the existing dies and equipment to strike coins. They produced exactly four half dollars using a specially designed Confederate reverse die paired with the standard 1861 Seated Liberty obverse. Four coins. That was it. The die cracked, and the Confederacy never minted another coin. Those four original pieces are among the rarest and most historically charged coins in American numismatics, with one selling for $960,000 at Heritage Auctions.

Quick Value Summary

• Item: 1861 Confederate Half Dollar

• Year: 1861

• Category: Coins

• Types and Values:

  • Original strikes (4 known): $500,000 - $960,000
  • J.W. Scott restrikes (500 made, 1879): $5,000 - $15,000
  • Scott medal copies (500 made, 1879): $2,200 - $8,000

• Record Sale: $960,000 (Newman specimen, Heritage Auctions)

• Rarity: Extremely Rare (originals); Rare (restrikes)

The Story

When Louisiana seceded from the Union on January 26, 1861, the New Orleans Mint kept running. It was the only operating branch mint in Confederate territory. The machinery, the dies, the bullion reserves, all of it fell into Confederate hands. For a while, the mint continued striking regular U.S. coins using existing dies. The coins looked identical to their Union counterparts.

But the Confederacy wanted its own coinage. Dr. B.F. Taylor, the Confederate chief coiner, commissioned a new reverse die from a local engraver. The design featured a shield surrounded by a wreath of sugar cane and cotton, with the inscription "Confederate States of America." The obverse was the standard Seated Liberty design already in use.

On an unknown date in early 1861, the mint struck four half dollars using this Confederate reverse die. The die cracked after just four impressions. The Confederacy, already strapped for resources, never replaced it. Within months, the New Orleans Mint shut down entirely as the Union blockade choked off bullion supplies.

The four coins disappeared into private hands. One was kept by Confederate Treasury Secretary C.G. Memminger. Another went to Professor J. Leonard Riddell, who had served as the mint's melter and refiner. E. Alonzo Chase, a New Orleans coin dealer, acquired the cracked die and one of the four originals.

In 1879, New York coin dealer J.W. Scott purchased the original Confederate die from Chase. Scott used it to create 500 restrikes by placing the Confederate reverse die over regular 1861 half dollars, flattening the original reverse and stamping the Confederate design on top. He also struck 500 white metal (tin) copies from the die paired with a smooth planchet. These Scott restrikes and copies are what most collectors encounter today.

How to Identify Each Type

Original Strikes (4 known)

• Obverse: Standard 1861 Seated Liberty half dollar design

• Reverse: Confederate shield with cotton and sugar cane wreath

• Weight and composition: Standard half dollar specifications (12.44 grams, 90% silver)

• Die crack: A crack runs through the reverse die, visible on at least some of the four originals

• Provenance: All four coins have documented ownership histories stretching back to 1861

J.W. Scott Restrikes (500 made, 1879)

• Obverse: A smoothed-over original 1861 half dollar reverse (the eagle design is flattened but sometimes faintly visible)

• Reverse: The Confederate design, struck from the original die

• Key tell: The obverse shows a ghostly impression of the original coin's eagle design beneath the smoothing. These were existing coins restruck, not fresh planchets.

Scott White Metal Copies (500 made, 1879)

• Material: White metal (tin alloy), not silver

• Obverse: Smooth or with Scott's identification text

• Reverse: Confederate design from the original die

• Weight: Noticeably lighter than silver half dollars

Value by Type and Condition

Original Strikes ($500,000 - $960,000)

All four originals are accounted for. They rarely come to market. The Eric P. Newman specimen, graded Proof 63+ by NGC with a green CAC sticker, sold for $960,000 at Heritage Auctions. Another example, the Riddell specimen, is held in a museum collection. Any original strike at auction is a major numismatic event.

Scott Restrikes ($5,000 - $15,000)

Of the 500 produced, many have survived in collectible condition. An MS-63 restrike (NGC) sold for $12,925 at Stack's Bowers in 2013. Lower grades (VF to AU) typically trade in the $5,000 to $8,000 range. These are the most accessible way to own a piece struck from the original Confederate die.

Scott White Metal Copies ($2,200 - $8,000)

The tin copies are less desirable than the silver restrikes but still carry the distinction of being struck from the original die. Values start around $2,200 for well-worn examples and reach $8,000 for sharp, problem-free pieces.

Confederate-Issue Regular Half Dollars

There is an important distinction between the Confederate Half Dollar (struck from the Confederate reverse die) and Confederate-issue regular half dollars. After seizing the New Orleans Mint, the Confederacy continued striking standard 1861 Seated Liberty half dollars using existing U.S. dies. An estimated 962,633 half dollars were struck under Confederate authority, but they are indistinguishable from Union-struck examples. Some have been recovered from shipwrecks like the SS Republic and authenticated through provenance.

Authentication and Fakes

Given the extreme values involved, authentication is critical:

• Original strikes: All four are documented and pedigreed. Any claim of a "fifth original" should be treated with extreme skepticism. PCGS and NGC have extensive records.

• Scott restrikes: Look for the ghostly eagle design beneath the smoothed obverse. The Confederate reverse should show die characteristics consistent with the original die, including the die crack.

• Modern counterfeits: Cast copies and struck counterfeits exist. Weight testing, specific gravity analysis, and professional grading are essential.

• Grading services: PCGS and NGC both recognize and grade all three types. For coins at these values, third-party grading is non-negotiable.

Where to Sell

• Heritage Auctions: The leading venue for high-value numismatic rarities. Their Confederate specialist department handles these regularly.

• Stack's Bowers: Another top-tier auction house with deep expertise in American numismatic rarities.

• Major coin dealers: Firms like Legend Numismatics or David Lawrence Rare Coins handle six-figure transactions.

Expected selling costs: Major auction houses charge 10-20% seller's commission depending on value. NGC or PCGS grading for coins in this range costs $150-$600+ (Walkthrough or Express tier). Insurance and shipping for six-figure coins is handled by specialized armored transport.

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