The 1971 Kennedy Half Dollar is a key modern issue that represents a major transition in American coinage. First struck in 1964 after the tragic assassination of President John F. Kennedy, the half dollar was originally made of 90% silver. But rising precious metal prices in the late 1960s led to a composition change in 1971, when silver was removed from circulating coins.
The 1971 half is common in absolute terms but scarce in the highest Mint State and Proof grades. Certain rare varieties and errors are also coveted by specialists. This guide will dive into the 1971 Kennedy half dollar in-depth – its history, values, variations, and collecting tips – so you can build a high-grade set of this modern classic.
A Brief History of the Kennedy Half Dollar
The story of the Kennedy half dollar begins in late 1963, when the beloved young president was assassinated in Dallas. His successor Lyndon Johnson expedited the approval of a new half dollar design honoring JFK, which replaced the long-running Franklin type midway through 1964.
Mint Engraver Gilroy Roberts designed the coin‘s obverse, adapting his 1961 presidential medal portrait of Kennedy. The reverse features the presidential seal by Assistant Engraver Frank Gasparro. First-year production from the Philadelphia and Denver Mints exceeded 430 million pieces.
Kennedy halves were originally struck in the standard 90% silver composition. But as precious metal prices rose in the late 1960s, widespread hoarding of silver coinage threatened to create a circulation shortage. To discourage this, Congress authorized a new clad composition in 1965 for the dime and quarter.
The half dollar continued to be struck in 40% silver from 1965 through 1970 since it saw little circulation. Annual proof sets with a 40% silver half were also made for collectors through 1969. Finally in 1971, the switch was made to a copper-nickel clad composition consisting of outer layers of 75% copper and 25% nickel, bonded to a pure copper core.
1971 Half Dollar Specifications
- Weight: 11.50 grams
- Diameter: 30.6 millimeters
- Thickness: 2.15 millimeters
- Edge: Reeded
- Composition: 75% copper, 25% nickel clad
- Mints: Philadelphia (no mintmark), Denver (D), San Francisco (S)
1971 Half Dollar Mintage Figures
| Mint | Mintage |
|---|---|
| 1971 (P) | 155,164,000 |
| 1971-D | 302,097,424 |
| 1971-S Proof | 3,220,733 |
The Philadelphia and Denver Mints produced clad half dollars for circulation in 1971, with Denver striking by far the highest number at over 302 million pieces. San Francisco made 3.2 million Proof coins for collectors, with the 1971-S representing the first clad half dollar in Proof format.
1971 Half Dollar Value Chart
Regular 1971 Kennedy halves can be found in circulation at face value. Uncirculated and Proof examples are worth modest premiums. The following chart shows retail values in various grades:
| Grade | 1971 (P) | 1971-D | 1971-S Proof |
|---|---|---|---|
| Circ. | $0.50 | $0.50 | N/A |
| AU | $0.75 | $0.75 | N/A |
| MS/PR-60 | $1 | $1 | $4 |
| MS/PR-63 | $4 | $4 | $5 |
| MS/PR-65 | $12 | $12 | $7 |
| MS/PR-66 | $110 | $100 | $30 |
| MS/PR-67 | $750 | $700 | $100 |
| MS/PR-68 | $1,100 | $1,000 | $500 |
| MS/PR-69 | $2,750 | $2,500 | $1,250 |
| MS/PR-70 | $10,000+ | $10,000+ | $4,000+ |
As you can see, there is an exponential jump in price for coins grading MS/PR-67 and finer. This is due to condition rarity, as most 1971 halves have too many marks or other imperfections to grade that high.
Values can vary based on eye appeal, strike, toning, and other factors beyond numerical grade. Deeply mirrored cameo Proofs are worth strong premiums, as are coins with attractive color.
Price sources: PCGS CoinFacts, NGC Coin Explorer, CPG Market Review
The 1971-S Type 2 Proof
A rare variety of the 1971-S Proof half dollar shows slightly modified shaping of the letters and numbers on Kennedy‘s truncation. This Type 2 variation was the result of tinkering with the Proof dies early in production. The design was soon restored to the normal Type 1 style.
While the difference is subtle, 1971-S Type 2 halves are quite rare and valuable in Proof condition. PCGS estimates just 1,500 to 2,500 pieces exist. Values range from $500 in PR-65 to over $5,000 in PR-69 and $12,000 or more for a PR-70. Cameo and Deep Cameo contrast can push prices even higher.
Error Coins
Several notable error coins emerged from the 1971 half dollar production. The most dramatic are double denomination mules, with mismatched obverse and reverse dies. For example, a 1971 Kennedy obverse paired with a Statue of Liberty reverse from the Eisenhower dollar. These rare errors often sell for over $10,000 at auction.
Other more common (though still scarce) errors include off-center strikes, die caps, and die breaks. Prices depend on the magnitude and eye appeal of the error. Minor off-centers can sell for $50 to $100, while major ones bring hundreds or even thousands.
How to Collect 1971 Half Dollars
Circulation Finds
Mint State 1971 halves are seldom found in circulation today. Most pieces are worn down to About Uncirculated (AU) grades at best. Check bank rolls and ask tellers to keep an eye out for these coins. Even lightly circulated examples are worth hanging onto.
Buying Raw Coins
When buying uncertified 1971 halves raw, stick to coins that are lustrous and problem-free. Avoid dull, spotted, or heavily marked coins. Look for examples with minimal abrasions and good eye appeal for the grade. A 5x magnifying loupe is useful for examining surface quality.
Buying Certified Coins
For valuable mint state and proof 1971 halves, buy only coins graded by PCGS, NGC, ANACS, and ICG. These respected services offer a guarantee of authenticity and grade. Their plastic holders also protect the coin. Be wary of cheaper "self slabs" or coins in flips marked as MS/PR-70.
Grading 1971 Half Dollars
Mint State coins are graded on a 60 to 70 scale based on luster, marks, and overall eye appeal:
- MS-60 to 62: Dull luster, numerous marks and hairlines
- MS-63: Slightly subdued luster, scattered marks or hairlines
- MS-64: Lustrous with minor marks and abrasions
- MS-65: Full cartwheel luster, minimal marks visible to the naked eye
- MS-66: Strong luster, no distracting abrasions, nearly mark-free
- MS-67+: Exceptional luster and eye appeal, virtually flawless surfaces
The same basic scale applies to Proofs but with a "PR" or "PF" prefix. Cameo contrast is noted as "CAM" for white devices against reflective fields or "DCAM" for deep (ultra) cameo. Quality can vary within a grade based on overall eye appeal.
Registry Set Collecting
Many Kennedy half dollar collectors compete to assemble the finest known sets in the PCGS and NGC registries. The goal is to amass a complete run from 1964 to date with the highest weighted grade point average. Top-graded 1971 halves are an important component of these sets.
The finest 1971 half currently graded by PCGS is a single MS-68 example of both the 1971 and 1971-D, along with a sole PR-70DCAM 1971-S. NGC has also certified just one MS-68 apiece for the Philadelphia and Denver issues, and two PR-70 Ultra Cameos for the San Francisco edition.
Historical Significance
The Kennedy half dollar is a significant modern series that has captivated collectors for over 50 years. Born out of national tragedy, the coin serves as a numismatic memorial to the fallen president and the promise of his New Frontier. The series is a case study in how the U.S. Mint adapts to changing economic conditions, from silver to clad and back again for special collector issues.
The 1971 issue stands out as the first year of the clad era for circulation strikes. It also marks the last time Kennedy halves were widely seen in commerce before disappearing into hoards and collections. Proof versions also debuted the new clad format this year. The rare Type 2 variety and unusual errors add further interest.
Today the Kennedy series remains widely collected as an accessible modern set. Many numismatists of a certain age started out filling Whitman folders from circulation finds. More advanced collectors gravitate to high-grade Registry sets. The series makes an ideal family project that bridges generations.
1971 Half Dollars as an Investment
Most 1971 Kennedy halves are too common to make good investments. Huge mintages mean that prices for circulated and lower Mint State examples will likely not rise much faster than inflation. Proof coins have a bit more potential but are still abundant in grades up to PR-67.
However, top-pop Registry coins in the highest grades can be solid assets for collectors with a long term view. Finest-known pieces are genuinely rare and seldom come up for auction. They are trophy coins that serious Kennedy enthusiasts will pay a premium to own.
Error coins are also highly collectible and tend to hold their value well over time. Major off-centers, dramatic die caps, and exotic mules have a strong following. Since they‘re so rare, they often set price records when they cross the block.
As with any coin, buy the best you can afford and focus on rarity and eye appeal. Attractive coins always fetch higher prices and are easier to liquidate. Store your coins in proper holders and avoid cleaning or otherwise tampering with the surfaces.
Collecting Tips
- Look for original, problem-free coins with good eye appeal for the grade
- Buy certified coins from PCGS, NGC, ANACS or ICG for maximum value and liquidity
- Focus on higher grades like MS/PR-66 and up for best investment potential
- Cherry pick raw coins for quality but use a 5x loupe to check for hidden problems
- Consider building a complete Kennedy set from 1964 onward
- Compete in the PCGS and NGC Registry sets to find the finest examples
- Study the subtle differences between 1971-S Type 1 and Type 2 Proof coins
- Be on the lookout for rare and valuable error coins like mules and off-centers
- Store your coins properly in inert plastic holders, not PVC flips or bags
- Hold attractive coins for the long term and be patient when selling
Whether you‘re collecting circulated coins from pocket change or building a world-class Registry set, the 1971 Kennedy half dollar offers a little something for everyone. It‘s a perfect entry point into the series and a collectible with enduring appeal. Gem examples are condition rarities on par with much older issues. With certified populations in the single digits for MS/PR-68 and finer, they also make historic markers for the first clad year of "the people‘s coin."
Market data source: PCGS and NGC population reports and auction prices realized
Sources and further reading: Bowers, Q. David. A Guide Book of Franklin and Kennedy Half Dollars. Whitman, 2016. Tomaska, Rick. Kennedy Half Dollar Folder: 1964-1985. Whitman, 1999. Wiley, Bret. Top 100 Modern US Coins. Whitman, 2016.
