At one point or another, I’m sure many of you have had a Kennedy half dollar jingling in your pocket. In fact, those can still be found in circulation today from time to time. However, there is one big difference between the Kennedy half dollars we see today and the half dollars that were placed into circulation more than 100 years ago.
Are you familiar with Barber, Walking Liberty or Franklin half dollars? These are the more common faces of the iconic 90% half dollars that have graced American coinage throughout history. Why are these particular coins so popular? Well, most collectors and investors include thesesilver half dollars in their collection or investment portfolio because these coins, issued by the United States Mint in 1964 and earlier, were composed of 90% silver. After the Coinage Act of 1965, the composition of half dollars dropped from 90% silver to 40% silver.
In 1971, the composition of the half dollar changed once again when the U.S. began minting coins composed of 75% copper and 25% nickel which removed any remaining silver content. Today, half dollars produced for general circulation are still made with copper and nickel.
While 90% silver half dollars are no longer produced by the U.S. Mint, many still exist and are highly sought after by coin buyers. In fact, 90% silver halves are some of the most popular silver coin investments in the market today.
Factors, such as condition, rarity, year, and mint location can all have a dramatic impact on the value and marketability of certain coins. In this piece, we identify which half dollars can trade at a significant premium, and which sell based on their underlying silver content to help you make an informed decision when you buy and sell silver half dollars.
Bust Silver Half Dollars: 1794 – 1839
The Bust Half dollars are truly an important of American History as these were some of the first coins produced by the US Mint. Bust half dollars consist of three different design types (Flowing Hair, Draped, Capped), which were minted consecutively between 1794 and 1839.
Flowing Hair U.S. half dollars were the first of the three design types produced for only a very short period of time from 1794–1795, followed by the Draped Bust half dollars (1796–1807), and lastly, Capped Bust half dollars (1807–1839).
It’s no surprise the Flowing Hair half dollars, which also happen to be the lowest minted as these were only produced for two years, trade at the highest values. In fact, Flowing Hair half dollar coins can sell for thousands of dollars, but finding them in high-end condition can be extremely difficult due to their age and availability. Yet, these continue to be a collector favorite.
Two years after the Flowing Hair half dollar was placed into circulation, the first U.S. Minted half dollar was redesigned to what is now known as the Draped Bust half dollar. Designed by Robert Scot, who was the first Chief Engraver of the U.S. Mint, was inspired by the work of portraitist Gilbert Stuart and his portrayal of Liberty. There were two different designs of the Draped Bust half dollar one of which has considerably more value than the other.
We could dedicate an entire article to the nuances of the Bust Half Dollars. Suffice it to say, of the two different reverse designs, the one with a small eagle is considered one of the rarest silver types within American numismatics. This particular coin design has an extremely limited mintage and was produced for only two years (1796 – 1797) with coin values ranging from $10,000 – $125,000!
Moving on from the rarest Bust half dollar to the most attainable for collectors is the Capped Bust half dollar. In circulated condition, values can range from $50 – $200, if not more. Prices for this coin tend to increase at the almost uncirculated (AU) grade, with certified uncirculated examples trading at north of $1,000.
When considering adding a certified Bust half dollar to your coin collection, there are factors to consider that will impact not only the price you’ll pay but also the value you ultimately receive when it comes time to sell. The same factors can apply to any coin and so they are good points to remember.
Date and Mintmark
When it comes to collecting any coin, the date and mintmark are a key factor to consider. Each mint produced different quantities of coins and each year had a different production number. For example, 300,000 Flowing Hair Bust half dollars were produced while only 3,918 Draped Bust with small eagle reverse were produced.
Grade
Condition is key with it comes to these coins. And often times, one tier difference can mean thousands of dollars lost or gained. If you’re in the market to add a valuable bust half dollar to your collection, we recommend that you focus on those that have been certified by top third-party grading service (TPGS) companies such as NGC or PCGS. They tend to be more consistent in their grading practices and are accepted as the industry standard.
Seated Liberty Half Dollars: 1839 – 1891
Seated Liberty half dollars were minted after the Capped Bust half dollar and before the Barber half dollar, which puts the date range from 1839 to 1891. The coin includes a historic image of Lady Liberty seated on a rock adorned with a flowing dress and holding a shield with her right hand and a liberty pole with a Phrygian cap perched atop with her left. Several varieties of the coin exist, including with drapery, arrows and rays and without.
While not as valuable as Capped Bust half dollars, values in circulated condition typically range between $25 – $100 but can reach into the hundreds of dollars if you have a low mintage coin or if in certified uncirculated condition. As we noted above, coins certified by NGC or PCGS tend to be the most popular among collectors and have the highest resale.
Speaking of a high resale, the highest price realized for a Seated Liberty half dollar is $517,000 for the 1853-o half dollar without arrows or rays. Only four are known to exist. Unfortunately, these rarely come to market, with the last having sold at auction in 2017.
Barber Silver Half Dollars: 1892 – 1915
Barber half dollarswere designed by Charles E. Barber and were produced from 1892–1915. Most of the Barber half dollars were produced in relatively large quantities and tend to be in fairly worn condition. Even though these coins were circulated for many years a few key date or lower mintage coins exist, which can sell at a fairly significant premium.
Of note, most of the half dollars produced in 1897 and earlier were produced in lower quantities, as well as the 1904-S, 1913-P, 1914-P, and 1915-P half dollars. Outside of proof coins, the most valuable of the Barber half dollars is an 1892-o. The micro variety “O,” which has a small size mint mark, sells at a higher price point than the standard size “O.”
As previously mentioned, most Barber half dollars were heavily circulated, so even common date coins in higher-end condition, such as in Very Fine condition or better will still sell at a premium.
Walking Liberty Silver Half Dollars: 1916 – 1947
The U.S. Mint produced Walking Liberty half dollars between 1916 and 1947. These coins were designed by Adolph Weinman and were so popular that the image eventually was revitalized on modern-issued 1 oz American silver eagles. Most Walking Liberty half dollars are common date coins, but a handful of these coins can be quite valuable, especially in high-end or certified condition.
Some of the most popular and sought after dates for the Walking Liberty Halves are from 1916, 1919 and 1921. In particular, the 1921-P and 1921-D tend to trade at the highest values. Those produced in limited quantities are consideredrare or scarce datesand can sell for hundreds of dollars, if not more, if in high-end condition. However, these dates and values are more of the exception rather than the rule.
Assembling a complete collection of circulated condition Walking Liberty coinsis relatively easy to do and can be done on a fairly modest budget. Considering the iconic image of Walking Liberty, which was used as the inspiration of the American silver eagle, and the popularity of these coins, can make for a great long-term investment.
Franklin Silver Half Dollars: 1948-1963
Franklin Half Dollars, designed by John Sinnock with the assistance of Gilroy Roberts, depicts a side profile of Benjamin Franklin on the front and the Liberty Bell on the reverse. They were minted between 1948 and 1963, making this one of the shortest runs of coins. However, quite a few coins were produced during this relatively short time period of time.
In fact, a total of 460 million coins were produced over this 16-year time frame, averaging nearly 29 million coins per year. Considering the large mintage, these coins are quite common, and those in average circulated condition or with moderate wear sell for their underlying silver value.
A common term used for these coins is “junk silver“, however, because they were produced prior to 1965, they are all 90% silver coins. This eliminates the need for checking the date of Franklin half dollars to determine if it’s a silver coin or not. Another rule of thumb when looking at 90% silver half dollars and figuring out how that relates to an ounce of silver, remember that roughly 3 silver half dollars is about one troy ounce.
Some Benjamin Franklin half dollar coins, most notably the proof version issued from 1950 – 1953 and a few dates in high-end condition, such as the 1949-S and 1952-S, can have numismatic value in addition to the value of their bullion, so collectors cansell certain coinsat a higher price.
1964 Kennedy Silver Half Dollars: (currently issued)
Following President John F Kennedy’s assassination on November 22, 1963, Congress quickly moved to authorize the issuance of the Kennedy half dollar. Designed by Gilroy Roberts, the coins depict a side profile image of President Kennedy on the front or obverse and an image of a heraldic eagle grasping an olive branch on the reverse.
The 1964 Kennedy silver halves are quite common, with 433 million coins minted between the Philadelphia and Denver mints and have a value that closely tracks the spot price of silver based on their actual silver weight of .3616. It’s important to note that only the John F Kennedy 1964 half dollars are composed of 90% silver, so be sure to check the dates on these coins to ensure that you’re buying or selling silver coins as opposed to nickel-copper coins.
Another popular version of the 1964 Kennedy half dollar is the proof version, produced by the Philadelphia Mint. A total of 3.95 million of these coins were produced as part of a proof set. There are two versions of the 1964 proof Kennedy half dollar. The standard version, which is the most common, has the same obverse as the standard or business strike half dollar. A second version, referred to as an “accented hair,” has an additional strand of hair above the ear and is estimated to account for 1% – 3% of the overall mintage.
Remember, 1964 was the last year that 90% silver half dollars were issued for general circulation purposes. Many of these coins were hoarded by investors and collectors following the passage of the Coinage Act of 1965, which devalued the coins from 90% silver to 40% silver. Kennedy half dollars continued to be composed of 40% silver until 1970.
The short amount of time spent in circulation means the condition of these coins tends to be much better than the previously listed half dollars. Despite the high production of these coins, their condition and underlying silver content still make them worthy investments.
Fans of JFK may be interested in the 50th anniversary gold and silver coins and sets produced by the U.S. Mint in 2014. The silver four-coin set includes Philadelphia and Denver-issued coins with different finishes. The proof gold Kennedy half dollar was sold individually and contains 3/4 of an ounce of fine gold.
In Summary
If you’re considering investing in or selling silver half dollars, the experiencedsilver coin dealersat Atlanta Gold & Coin Buyers can help.Fill out our online formtoday orgive us a callto get an appointment scheduled.
Happy Treasure Hunting!
