As a coin collector and numismatic expert, I‘ve long been fascinated by the Kennedy half dollar series. Issued from 1964 to the present, these 50-cent pieces have remained popular with collectors for generations, even as the denomination faded from regular circulation. The 1972 issue, in particular, marks an important point of transition and offers many opportunities for building a noteworthy collection.
In this comprehensive guide, we‘ll take an in-depth look at the 1972 Kennedy half dollar from a collector‘s perspective. I‘ll share the history and context of the ‘72 issue, break down the different varieties and key diagnostics, and offer my insights on the current market. Whether you‘re a seasoned Kennedy collector or just starting out, this article will equip you with the knowledge and strategies to pursue the 1972 half dollar with confidence.
Kennedy Half Dollar Series Background
First, some historical context. The Kennedy half dollar made its debut in 1964, just a few months after the tragic assassination of President John F. Kennedy in November 1963. The coin‘s iconic obverse design, featuring a portrait of JFK by Chief Engraver Gilroy Roberts, became an instant classic and a poignant tribute to the fallen leader.
Those first 1964 Kennedy halves were struck in a 90% silver composition, as were issues from 1965-1970 (though the silver content dropped to 40% starting in ‘65). Surging silver prices in the late 1960s led to many of these coins being hoarded for their bullion value, causing a shortage of half dollars in circulation.
To address this, the U.S. Mint transitioned the series to a base metal "clad" composition starting in 1971. The new planchets had an inner core of pure copper sandwiched between outer layers of 75% copper and 25% nickel, resulting in a much lower intrinsic value. The 1972 Kennedy halves continued this new clad composition, marking the second year of the modified alloy.
1972 Kennedy Half Dollar Mintage and Varieties
The 1972 Kennedy half dollars were produced at three mints: Philadelphia (no mintmark), Denver (D), and San Francisco (S). Compared to the previous years of the clad composition, mintages were quite robust in ‘72:
| Variety | Mintage |
|---|---|
| 1972 (P) Kennedy half dollar | 153,180,000 |
| 1972-D Kennedy half dollar | 141,890,000 |
| 1972-S Proof Kennedy half dollar | 3,260,996 |
As you can see, Philadelphia once again claimed the highest production figure at over 153 million pieces. Denver followed closely behind with nearly 142 million coins. Meanwhile, the San Francisco Mint struck just over 3.2 million Proof half dollars for collectors.
It‘s worth noting that no Silver Proof sets were issued in 1972, so all of the S-mint coins from this year are copper-nickel clad. In fact, 1972 represents the last year of regular-issue Proof sets until 1982 (with the brief exception of 1979-1981 when the Mint offered smaller "Prestige" sets).
One notable variety to keep an eye out for from 1972 is the "No FG" half dollar. Normally, the initials of reverse designer Frank Gasparro appear below the right leg of the eagle, but a small number of Denver Mint halves lack these initials due to a filled die. Examples of the 1972-D No FG variety are scarce and can bring significant premiums in uncirculated condition.
Grading and Market Values
For collectors pursuing the 1972 Kennedy half dollar, understanding the grading standards and market dynamics is key. As a clad-era issue, most 1972 halves survived in lightly circulated to uncirculated condition, but gems can be elusive.
When grading mint state coins, look for examples with full luster, minimal marks or abrasions, and strong strike detail. Pay particular attention to the high points of Kennedy‘s hair and the eagle‘s breast feathers, which can show weakness on lesser-struck coins.
In terms of numerical grades, the 1972 Kennedy half dollar is most often seen in grades from MS-63 to MS-65. Here‘s a breakdown of the typical characteristics for each level:
- MS-63: May show light marks or hairlines, slightly subdued luster, minor softness of strike
- MS-64: Fewer marks, slightly better luster and strike than MS-63, overall pleasing eye appeal
- MS-65: Minimal marks visible without magnification, strong cartwheel luster, sharp strike, exceptional eye appeal
Coins graded MS-66 and above are true condition rarities that combine technical quality and visual impact. These superb gems represent the pinnacle of the 1972 half dollar issue and are highly sought-after by Registry Set collectors.
So what are these coins worth on the current market? Circulated examples of the 1972 Kennedy half dollar can still be found for a modest premium over face value, while lower-end uncirculated pieces trade for around $15-20. In MS-65, the 1972 (P) and 1972-D halves retail for $40-50 and $30-40 respectively. Prices jump significantly in MS-66 and above, as seen in this chart:
| Grade | 1972 (P) | 1972-D |
|---|---|---|
| MS-63 | $15 | $15 |
| MS-64 | $20 | $20 |
| MS-65 | $40-50 | $30-40 |
| MS-66 | $125-150 | $100-125 |
| MS-67 | $400-500 | $350-400 |
Of course, these are retail price ranges and individual coins may trade hands for more or less depending on the venue and market conditions. Error coins and varieties like the 1972-D No FG can command substantial premiums, with one MS-61 specimen bringing nearly $1,000 in a 2006 auction.
The 1972-S Proof Kennedy half dollar is generally more affordable, with typical prices of $5-7 in PR-65, $8-10 in PR-66, and $20-25 in PR-67. Cameo-designated coins with deep frosted devices can bring slightly more. Near-perfect PR-69 examples are valuable condition rarities.
Collecting Strategies and Recommendations
As a collector, there are many ways to approach the 1972 Kennedy half dollar depending on your goals and budget. For a basic type set, aim for a single high-grade example from the Philadelphia or Denver Mint. A coin graded MS-64 or MS-65 by PCGS or NGC with attractive toning makes an impressive display piece.
Mint set collectors can also consider adding a 1972 half dollar to their albums. The 1972 set includes one Uncirculated coin each from the Philadelphia and Denver Mints. While these coins aren‘t as pristine as those in full mint state holders, a well-preserved 1972 Mint Set can be a nice option for more budget-minded collectors.
If you‘re building a Registry Set of high-grade Kennedy halves, the 1972 (P) and 1972-D coins in MS-66 and above are must-haves. Look for examples with exceptional luster, eye appeal, and surface quality. Toned coins are popular with Kennedy collectors, so don‘t overlook attractive patinas that complement the design.
Variety and error collectors will certainly want to seek out the rare 1972-D No FG half dollar. These coins are tricky to cherrypick in circulation, so your best bet is to purchase a certified example from a reputable dealer or auction. Other error types like off-center strikes and clipped planchets are also highly desirable.
Regardless of your collecting strategy, I always recommend buying the best quality you can afford. For the 1972 Kennedy half dollar, that means focusing on coins graded MS/PR-65 and above by PCGS or NGC. Not only do these high-grade examples have better long-term value potential, but they‘re also a true pleasure to own and admire in your collection.
Market Outlook and Final Thoughts
Looking ahead, I expect the 1972 Kennedy half dollar to remain a popular and collectible issue. While it may not have the same bullion-driven appeal as the earlier 90% and 40% silver issues, the ‘72 benefits from its place in the long-running Kennedy series and its strong strike and luster as a clad coin.
The market for condition rarities like MS-67 gems and error coins is likely to remain strong, as Registry Set collectors and specialists drive demand for these top-quality pieces. That said, the series as a whole is relatively accessible for collectors of all budgets, making it a great option for anyone looking to start a meaningful set.
Ultimately, the 1972 Kennedy half dollar is a coin with a rich history and enduring collector appeal. By understanding the key varieties, grading standards, and market dynamics, you can build a collection that‘s both personally satisfying and potentially valuable. Whether you‘re drawn to the coin‘s classic design, its place in the larger Kennedy series, or its unique varieties, the 1972 half dollar is a worthy pursuit for any numismatist.
