The 1831 Capped Bust half dollar was struck in 89.24% fine silver at the Philadelphia Mint, which until 1838 was the only U.S. Mint facility. The obverse depicts Liberty wearing a cap inscribed liberty, and the reverse features an eagle perched on an olive branch and grasping three arrows. The olive branch symbolizes desire for peace, while the arrows symbolize America`s readiness to defend itself, if necessary. The 1831 half dollar was issued over 175 years ago.