The 1836 Capped Bust Half Dollar marks the final year of production for this design with a lettered edge. Minted in Philadelphia, it features the classic Liberty portrait facing left on the obverse, designed by John Reich. The reverse depicts an American Bald Eagle with a shield on its chest, also designed by Reich. This design element differentiates Capped Bust Half Dollars from the earlier Draped Bust Half Dollars.

One key identifier for the 1836 coin is the edge inscription, reading "FIFTY CENTS OR HALF A DOLLAR." This lettering was replaced by reeded edges on subsequent half dollar mintages starting in 1837. The coin itself is composed of .892 fine silver, making it a desirable collectible for its silver content alone. At the time of minting, it would have been a significant denomination, worth half a US dollar.

Today, the value of an 1836 Capped Bust Half Dollar hinges on its condition. Coins that have been circulated and show wear can range from $70 to $1,040 depending on the level of detail remaining. However, uncirculated specimens in pristine condition can be much more valuable, reaching upwards of $23,000 for exceptional examples. These high-grade coins are particularly sought after by collectors due to their rarity and historical significance.

If you have an 1836 Capped Bust Half Dollar, it's important to have it professionally graded by a reputable coin grading service like NGC or PCGS to determine its exact condition and potential value. This will ensure you get an accurate assessment before considering selling or adding it to your collection.