The half dollar, authorized by the Act of April 2, 1792, was not minted until December 1794. The early type of this series have been extensively collectived by di varieties, of which many exist for most dates. Valuations given below are each case for the most common variety; scarcer ones as listed by Overton generally command higher prices.

When the first half dollar was first issued, its weight was 208 grains and its fineness .8924. This standard was not changed until 1837, when the law of January 18, 1837, specified 206 - 1/4 grains, .900 fine. This fineness continued in use until 1965.

Arrows at the date in 1853 indicate the reduction of weight to 192 grains, in conformity with the Act of February 21, 1853. During that year only, rays were added to the field on the reverse side to identify the lighter coins. Arrows remained in 1854 abd 1855.