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.