What Is a Half Dollar Coin and Why Is It So Rare?
Learn about the U.S. half dollar coin, from its origins and evolving designs to its current role as a collectible, rarely found in circulation.
The half dollar coin represents a denomination of United States currency, valued at 50 cents, or one half of a U.S. dollar. It functions as a circulating coin, though its presence in everyday transactions has significantly diminished over time. This coin has undergone numerous design and compositional changes throughout its history, reflecting various periods of American numismatics.
Identifying a Half Dollar Coin
A half dollar coin possesses distinct physical characteristics. It is the largest circulating coin in the United States, measuring approximately 1.205 inches (30.61 millimeters) in diameter and 0.085 inches (2.16 mm) in thickness. This size makes it noticeably larger than a quarter.
The weight of a half dollar varies depending on its metallic composition. For instance, the 1964 Kennedy Half Dollar, made of 90% silver, weighs 12.50 grams. Later versions, from 1965 to 1970, with 40% silver content, weigh 11.50 grams, while those minted from 1971 to the present, composed of copper-nickel clad, weigh 11.34 grams. All half dollars feature a reeded edge.
The most commonly encountered design today is the Kennedy Half Dollar, which features the profile of President John F. Kennedy on its obverse (heads side) and the Presidential Seal on its reverse (tails side). This design has been in use since 1964. The Presidential Seal depicts an eagle holding an olive branch and arrows, surrounded by 50 stars.
Evolution of the Half Dollar
The United States Mint began producing half dollars in 1794, with the earliest design known as the Flowing Hair half dollar. This initial coin featured a depiction of Lady Liberty with flowing hair on the obverse and an eagle on the reverse, and was minted in 1794 and 1795. Following this, the Draped Bust half dollar, designed by Robert Scot, was in circulation from 1796 to 1807, showcasing a more refined image of Liberty and an eagle, which initially was small and later became a heraldic eagle.
The Capped Bust half dollar, introduced in 1807, featured Lady Liberty wearing a cap, symbolizing freedom, and saw a design change in 1836, transitioning from a lettered edge to a reeded edge. This was followed by the Seated Liberty half dollar, minted from 1839 to 1891, which depicted Liberty seated, holding a shield and a cap on a pole. The Barber half dollar, named after its designer Charles E. Barber, was produced from 1892 to 1915, presenting Liberty wearing a Phrygian cap and laurel wreath.
The Walking Liberty half dollar was minted from 1916 to 1947, portraying Lady Liberty walking towards a rising sun. This design, highly regarded for its artistry, was replaced by the Franklin half dollar in 1948, which featured Benjamin Franklin on the obverse and the Liberty Bell on the reverse, minted until 1963. The introduction of the Kennedy half dollar in 1964, honoring the assassinated President John F. Kennedy, marked a notable shift in design, which remains current.
Changes in the half dollar’s metallic composition primarily occurred due to the rising price of silver. Initially, half dollars were composed of 90% silver and 10% copper. However, the Coinage Act of 1965 reduced the silver content of the half dollar to 40% from 1965 to 1970. By 1971, silver was entirely removed from the half dollar, and its composition shifted to a copper-nickel clad.
Modern Half Dollar Coins
Today, half dollar coins are rarely encountered in everyday transactions, despite remaining legal tender in the United States. This reduced circulation began to be noticeable by the end of the 1970s, as businesses and the public gradually lost interest in using them. Factors contributing to their infrequent use include public preference for smaller denominations and the lack of accommodation for half dollars in many vending machines.
Although not commonly found in change, half dollars are still produced by the U.S. Mint. Since 2002, the Mint has primarily produced them for annual coin sets and other numismatic products, rather than for general circulation. The Federal Reserve retains the option to order them for circulation as needed.
Modern half dollars serve specific purposes, often appealing to collectors due to their historical significance and varied designs. They are frequently purchased directly from the U.S. Mint for collecting. They are also available from most American banks and credit unions for those who specifically request them for novelty purposes, as gifts, or for special occasions.