There is likely no such thing as an 1831 circulation strike half cent, though a somewhat worn piece in the Missouri Cabinet was assigned a grade of AU-55 by PCGS. Instead, there are three varieties of Proofs that collectors can choose among to own an example of this date. Original 1831 half cents, struck in Proof finish in 1831, are extreme rarities. The 1831 half cents with the reverse type of 1840 were coined much later, perhaps as late as the 1870s, and are also extremely rare. Just five are known. Most date collectors end up acquiring an example like this, if they ever find one at all. The 1831 First Restrikes use a reverse from 1836 and were likely coined in the late 1850s, when interest in United States copper coins first began to blossom.

The example to the left was sold by Stack's Bowers Galleries in the August 2023 Global Showcase Auction, where it realized $49,800.