What Are Half Dollars and Why Are Some Worth More?
Understand U.S. half dollar coins. Discover what distinguishes certain issues, making them hold value far beyond their initial fifty-cent denomination.
The half dollar is a denomination of U.S. currency. It holds a face value of 50 cents. Historically, half dollars were a common part of everyday transactions. While still considered legal tender, their presence in general circulation has become uncommon in recent decades.
Understanding the Half Dollar
The half dollar is presently the largest circulating coin minted in the United States in terms of both size and weight. It measures 1.205 inches (30.61 millimeters) in diameter and weighs 11.340 grams. Modern half dollars, those produced from 1971 onward, are composed of a copper-nickel clad, meaning a core of pure copper is bonded between outer layers of 75% copper and 25% nickel.
Though still minted annually, half dollars are not typically found in change from retail purchases. The U.S. Mint primarily produces them for collectors and annual coin sets. However, individuals can often acquire rolls of half dollars by requesting them from local banks or credit unions, maintaining their status as legal tender despite diminished daily use.
Notable Half Dollar Series
The half dollar has featured a variety of designs throughout its long history. The first half dollar was minted in 1794, initially composed of 90% silver. Early designs included the Flowing Hair and Draped Bust, followed by the Capped Bust and Seated Liberty series, which depicted allegorical figures of Liberty.
A significant design change occurred with the introduction of the Barber Half Dollar in 1892, preceding the Walking Liberty Half Dollar, which was minted from 1916 to 1947. The Walking Liberty design features a striding figure of Liberty draped in the American flag. Following this, the Franklin Half Dollar, showcasing Benjamin Franklin, was produced from 1948 to 1963.
The Kennedy Half Dollar, first issued in 1964, was created to honor President John F. Kennedy. The 1964 Kennedy half dollar maintained the 90% silver composition of its predecessors. However, due to rising silver prices, its composition changed to 40% silver from 1965 to 1970, and then to the copper-nickel clad composition from 1971 to the present, marking a complete transition away from silver for circulating issues.
Value Beyond Face Value
Many half dollars are worth more than their 50-cent face value, primarily due to factors appealing to coin collectors. One significant determinant of a coin’s value is its condition, with uncirculated coins generally commanding higher prices than those that have seen extensive use. Professional grading services assess coins on a scale, with higher grades indicating better preservation.
Rarity also plays a substantial role, often influenced by mintage figures. Lower mintage numbers for a particular year or mint mark can increase a coin’s scarcity and, consequently, its value. Additionally, half dollars minted before 1965 contain 90% silver, while those from 1965 to 1970 contain 40% silver, giving them an intrinsic metal value that can exceed their face value based on market silver prices.
Minting errors or specific die varieties can also significantly enhance a coin’s worth to collectors. These unique characteristics make certain coins sought after. Resources like coin dealers, numismatic guides, and online databases provide information for individuals interested in assessing the potential value of specific half dollars.