The 1846, a “Braided Hair” Half Cent, is a rare U.S. coin for a few reasons. First, it was minted on a smaller, thinner silver planchet than other half cents before or since, and it shows a smaller bust of Liberty as well. Second, the coin is only dated on its obverse side — the reverse has a Roman numeral III for its denomination. Finally, the 1846 half cent is one of the first U.S. coins (along with some gold pieces that same year) to be dated numerically rather than with “18” followed by roman numerals.
About 163,500 half cents were created in 1846, but relatively few have survived. Numismatic Guaranty Company suggests in its Coin Explorer guide that perhaps only about 1,500 examples are known.
The value of a Braided Hair Half Cent depends heavily on its condition. A circulated 1846 sells for about $1,220, while a coin graded About Uncirculated can fetch $2,100. At the upper end of the condition scale, Uncirculated examples of this rare coin can sell for even more. A coin graded MS-61 netted more than $20,000 in a recent auction.