1861 Confederate Restrike 50C PCGS MS65 CAC. Civil War Date Half Dollar.  This is the single finest known PCGS graded specimen of this highly desirable Civil War half dollar restrike. 

The reverse is fully struck. Libertys head shoulder, elbow, both knees, foot and shield are flat, in keeping with the history of the mintage. A few flyspecks are seen on the reverse with virtually none on the obverse. Because this coin is restrike over a regular half dollar with the reverse ground down, it is lighter, and the obverse is flattened, as noted above; consequently, the coins grade is determined solely by the condition of the reverse, which in this case is a rare gem. Also of note are the imperfections of the dentils over ER in AMERICA as a result of the die being chipped. The obverse is the seated half dollar designed by Christian Gobrecht. Liberty is seen seated, her body facing right and her head looking over her shoulder facing left. In her left had she holds a staff on which is topped by a Phrygian cap. Her right hand balances a Union Shield inscribed LIBERTY on a wavy diagonal banner. The date is below, and she is surrounded by thirteen stars. Dentils border the coin. The Confederate reverse shows a shield consisting of seven stars and seven stripes. Atop the shield is a pole with a Phrygian cap on it. The shield is set in an open wreath of cotton and wheat tied in bow. The inscription CONFEDERATE STATES OF AMERICA and the denomination HALF DOL. surround the wreath. 

Early in 1861 the Confederacy took over the New Orleans branch mint. Officers had to swear allegiance to the CSA. Dr. M.F. Bonzano remained on his post as a spy for the Union. Dr. B.F. Taylor became the Chief Coiner. After its establishment, the mint kept using Union dies to make half dollars, which for the most part were very similar to the Union coinage. (Note the Union shield on the obverse of the present coin.) In April Confederate Secretary of the Treasury C.G. Memminger requested that designs be submitted for half dollars. 

He approved the Union obverse combined with the CSA coat of arms. A few proofs were made with a cracked Union die. When the Mint was retaken by the Union, Dr. Taylor kept one of the proofs and the reverse CSA die. In 1879 Taylor sold them to a dealer who resold them to J.W. Scott. Scott repolished the die, which had rusted, and struck 500 white metal, probably tin, tokens. (These are B-8003.) They were inscribed 4 ORIGINALS STRUCK BY ORDER OF C.S.A. IN NEW ORLEANS 1861 *******REV. SAME AS U.S. (FROM ORIGINAL DIE:SCOTT) Of note here is that in describing and inscribing the token, Scott made an error and called the obverse the reverse. He then bought 500 1861 half dollars and grinded off the reverses. On these ground down coins, he overstruck the Confederate reverse.