1862

Mintage for 1862 reached 1,492,000 half dimes at Philadelphia. The Civil War was in full force. Silver coin hoarding had become widespread by the middle of the year, and by autumn 1862, silver coins of all denominations had essentially disappeared from circulation across the Union. The Mint continued producing half dimes, but the coins vanished into private hoards as fast as they entered the economy. Fractional currency notes and privately issued Civil War tokens filled the void in daily commerce.

Despite the high production, the 1862 is moderately scarce in higher grades because many of the coins produced that year were pulled from circulation early and set aside during the hoarding crisis. Paradoxically, this has resulted in better-than-expected survival in Uncirculated condition, since coins that were hoarded in 1862 and 1863 often came out of storage years later in essentially mint condition.