In 1807 the Capped Bust obverse was introduced. Liberty now faces left, wearing a cap secured at the base with a ribbon or band inscribed LIBERTY, with tresses falling to her shoulder. Her low neckline is draped in a cloth or a gown and is secured by a brooch on her shoulder. Seven stars are to the left and six are to the right. The date is below. The reverse depicts an eagle perched on an olive branch and holding three arrows, with E PLURIBUS UNUM above on a scroll and UNITED STATES OF AMERICA 50C surrounding. The edge displayed the lettering FIFTY CENTS OR HALF A DOLLAR.

Although there are a number of scarce varieties in the 1807-1836 range, most are readily obtainable. Specimens of most issues are typically encountered in grades from Fine to Extremely Fine, with some of the earlier dates in the range, 1807 through 1820, sometimes seen in Good to Very Good preservation. AU pieces are not difficult to find, especially of dates in the late 1820s and 1830s. Many of these pieces were held by, and traded between banks (as no silver dollars were struck for circulation between 1803 and 1840) so many survived with relatively light wear.