Kind of looks like it could be. Here is a link to CoinFacts showing some higher grade examples https://www.pcgs.com/coinfacts/coin/1861-o-50c-w-15-csa-issue-speared-olive/572148
You're not alone there. It's a new one on me, as well. Aha! So this is one of the CSA issues, then? Cool. But tell me what the markers for this supposed "speared olive" are? What am I supposed to be looking at? Is there something going on with the top cluster of olives?
OK, since Coinfacts was sparse on details, I Googled around and found this much in an old Heritage description, at least:
I’m trying to learn myself. I picked up this cull half because it appeared to have one of the 3 die markers that it was made by the CSA. One is the die lines between the eagle’s tail and the upper olive. The other two are a thin die crack along the left side of the 6 in the date and a die crack from liberty’s nose to the rim.
I knew in general that there were such markers on 1861-O halves, but never the specific details of what those markers actually are. So I learned a little here. Wondered about that stuff back when I owned this coin.
Since no one appears to have said specifically, Yes, all of the first three coins are speared olive coins and therefor made by the Confederacy. Lordmarcovan's coin does not appear to be a speared olive, nor is it a divided date (vertical die crack between the 86). But there are four other Confederate varieties so it could still be one of those. There are also 6 LA varieties and 2 US varieties as possibilities, and the US varieties are actually scarcer than the CSA. But not as popular.