What to Look for in Half Dollars

Half dollars represent a significant denomination in United States coinage, holding both historical interest and potential monetary value for collectors and casual observers alike. These coins have circulated for centuries, reflecting changing eras and artistic styles. Many people examine half dollars with an interest in their past or the possibility of uncovering a rare or valuable piece. The allure often lies in discovering a coin that transcends its face value, whether due to its age, composition, or unique characteristics. Understanding what makes certain half dollars stand out can transform a simple observation into an engaging pursuit.

Identifying Features and Value Indicators

A half dollar’s composition is a primary determinant of its intrinsic value, particularly its silver content. Half dollars minted before 1965, including the 1964 Kennedy half dollar, contain 90% silver, making their melt value often exceed their face value. Those produced between 1965 and 1970 contain 40% silver. Coins minted from 1971 onward are typically copper-nickel clad, containing no silver, and generally hold only their face value unless they are special collector editions or uncirculated specimens. Examining the coin’s edge can sometimes reveal the silver layer on earlier issues, appearing as a solid silver band, while clad coins show a distinct copper stripe.

Mint marks indicate where a coin was produced, often located on the reverse side above the denomination or below the eagle. Common mint marks include “D” for Denver, “S” for San Francisco, and “P” for Philadelphia. The presence or absence of a mint mark, and its location, can denote a rarer mintage or specific production run, influencing a coin’s scarcity and desirability among collectors. For example, some proof coins bear an “S” mint mark.

The date stamped on a half dollar is another important factor, as it directly correlates with its mintage year and potential silver content. Specific dates are known as “key dates” due to their significantly lower mintage figures, making them more difficult to find and thus more valuable. These low mintage years can include coins produced during wartime or economic shifts, which often resulted in fewer coins being struck. Identifying these dates requires familiarity with mintage records for each series.

Beyond composition and date, certain half dollars exhibit errors or varieties that significantly enhance their value. Errors are anomalies that occur during the minting process, such as double dies, which show a doubled image, or off-center strikes, where the design is not perfectly centered. Varieties, on the other hand, are intentional changes to the die that result in minor design differences, such as overdates where one date is struck over another, or repunched mint marks. These unique characteristics are highly sought after by collectors due to their rarity, often commanding substantial premiums.

Specific Half Dollar Series to Examine

The Walking Liberty half dollar (1916-1947) features Liberty striding towards the sunrise on the obverse and an eagle on a mountain crag on the reverse. When assessing these coins, examine the high points of Liberty’s outstretched hand and the details of her gown, as these areas are typically the first to show wear. The clarity of the eagle’s feathers and the branch it grasps on the reverse also provide indicators of the coin’s preservation level.

Franklin half dollars (1948-1963) showcase Benjamin Franklin on the obverse and the Liberty Bell with a small eagle on the reverse. A notable feature to inspect on these coins is the bell’s cracks and the details of the lettering “E PLURIBUS UNUM” above it. Collectors often look for the “Bugs Bunny” variety, where Franklin’s teeth appear prominently due to a die crack or clash, creating a humorous facial expression.

The Kennedy half dollar series began in 1964 and continues to the present day, with varying compositions throughout its production. The 1964 issue is particularly notable as it is the only year of this series to contain 90% silver. An interesting variety in the 1964 Kennedy half dollar is the “accented hair” variant, characterized by more pronounced hair lines above Kennedy’s ear, which can command higher prices due to its rarity.

Earlier series, such as Seated Liberty (1839-1891) and Barber half dollars (1892-1915), are significant historical pieces. These coins are considerably rarer and almost always of substantial value due to their age and historical significance. Their designs often feature intricate details that are prone to wear, making well-preserved examples particularly valuable.

Assessing Coin Condition

A coin’s physical condition substantially determines its market value, sometimes more than its rarity. Even a rare half dollar with significant wear or damage will command a much lower price than a well-preserved example of the same coin. Understanding the general state of preservation helps in estimating its potential worth. Collectors use a standardized grading system to describe a coin’s condition, which directly influences its desirability.

Here are basic terms used in coin grading:
Uncirculated (BU): No signs of wear from circulation, retaining original mint luster.
About Uncirculated (AU): Only a trace of wear on the highest points of the design.
Extremely Fine (EF/XF): Light wear on high points, but all major details remain sharp.
Very Fine (VF): Moderate wear, with some details still clear.
Fine (F): Significant wear, but the overall design remains discernible.
Good (G): Heavily worn, with only the major design elements visible.

When examining a half dollar for wear, focus on the highest points of its design, which are the first areas to show abrasion from handling. For instance, on a Walking Liberty half dollar, check the folds of Liberty’s gown and the details of her hair. On a Franklin half dollar, observe the bell lines and Franklin’s hair. The sharpness of the coin’s lettering and the rim also provide clues about its overall condition.

Beyond general wear, certain types of damage can severely reduce a coin’s value. Cleaning a coin, often done with abrasive materials, can strip away its original surface and luster, leaving behind hairline scratches that are detrimental to its appeal. Other forms of damage, such as deep scratches, dents, holes, or bent surfaces, permanently alter the coin’s integrity and significantly diminish its collectibility and monetary worth.