Okay, I found this 1837 at the local WBG shop. I was wondering what the general opinion would be, thanks.
Not enough info to tell....at 50 bucks it's a good find; at 500 bucks it isn't. Somewhere in between? Maybe.
I have to wonder what process would completely wear away the reverse rim while leaving the shield almost as-struck. Something really funky going on here.
I had the same question in my mind's eye. Here is a basic grading chart showing examples: http://coinauctionshelp.com/capped_bust_reeded_edge_grading.html#.WIYymbm208A
The reeded edge bust halves from 1836--1839 had a different bust design than the lettered edge coins. This one looks right.
I guess it looks genuine. Value is a different thing. I have no clue because I don't know the market for these pieces.
I don't usually buy capped bust because the the ones I normally see are almost worn smooth, but this one had enough detail left I couldn't pass it up for $50. Thanks to all for your comments, I appreciate it.