As a seasoned coin collector and numismatic expert, I‘ve handled my fair share of Kennedy half dollars over the years. But there‘s something special about the 1973 issue that deserves a closer look. Minted in the midst of the copper-nickel clad era, these half dollars often get overlooked as "just another modern coin." However, savvy collectors know that even relatively recent issues can yield surprising treasures. Join me as I dive deep into the 1973 half dollar and reveal why it belongs in every serious collection.
Mintage Figures and Key Dates
Let‘s start with the basics. In 1973, the U.S. Mint struck Kennedy half dollars at three facilities: Philadelphia (no mintmark), Denver (D), and San Francisco (S). The San Francisco coins were produced exclusively for collectors as proof strikes. Here‘s how the mintage figures break down:
- 1973 Philadelphia: 42,366,000
- 1973-D Denver: 22,598,000
- 1973-S Proof: 2,760,339
With over 67 million coins struck overall, the 1973 Kennedy half dollar is by no means a rare date in the absolute sense. However, certain varieties and high-grade examples can be elusive. I‘ll discuss those more a bit later.
It‘s worth noting that 1973 represents a key inflection point in the Kennedy series. The U.S. Mint eliminated silver from the half dollar composition in 1971, switching to a copper-nickel clad planchet. By 1973, there was little precious metal value in circulation strikes. This change, combined with the public‘s hoarding of prior 40% and 90% silver issues, meant that mintages dropped dramatically compared to the mid-1960s. The 1973 half dollar‘s mintage seems paltry next to 1964‘s roughly 430 million!
Grading and Strike Quality
As with all modern coins, the value of a 1973 half dollar depends heavily on its grade. Coins are assigned a numeric grade from 1 to 70 based on their condition and eye appeal. Here‘s a quick primer on the grading scale:
- 1-59: Circulated coins that show varying degrees of wear. AG (About Good) is the lowest collectible grade at 3.
- 60-70: Uncirculated coins that show no wear from circulation. The numeric grade indicates the quality within the uncirculated range. Mint State (MS) coins grade from 60 through 70.
For 1973 Kennedy half dollars, strike quality is generally excellent thanks to newer die technology and minting equipment. Even late die state coins usually have crisp details in the centers. This is a notable improvement from the 1964 issue, where strike weakness is common.
That said, no coin is perfect. Certain dies can exhibit slight doubling or tripling, particularly on the lettering and Kennedy‘s hair. While these features are too minor to be considered true doubled die varieties, they are fun to cherrypick. Well-struck coins with full hair detail and sharp rims are worth a premium.
A Closer Look at Value
With all that background in mind, let‘s take a closer look at 1973 half dollar values across the grading spectrum. I‘ve compiled an expanded value chart based on recent auction data and my own experience:
| Grade | 1973 (P) | 1973-D | 1973-S (Proof) |
|---|---|---|---|
| MS-60 | $1.50 | $1.50 | N/A |
| MS-61 | $2 | $2 | N/A |
| MS-62 | $3 | $3 | N/A |
| MS-63 | $5 | $5 | N/A |
| MS-64 | $8 | $8 | N/A |
| MS-65 | $15 | $15 | N/A |
| MS-66 | $50 | $50 | N/A |
| MS-67 | $200 | $200 | N/A |
| MS-68 | $2,500 | $2,500 | N/A |
| PR-60 | N/A | N/A | $4 |
| PR-61 | N/A | N/A | $4.50 |
| PR-62 | N/A | N/A | $5 |
| PR-63 | N/A | N/A | $6 |
| PR-64 | N/A | N/A | $8 |
| PR-65 | N/A | N/A | $10 |
| PR-66 | N/A | N/A | $15 |
| PR-67 | N/A | N/A | $30 |
| PR-68 | N/A | N/A | $50 |
| PR-69 | N/A | N/A | $100 |
| PR-70 | N/A | N/A | $200 |
A few trends stand out to me. First, there‘s relatively little price difference between the Philadelphia and Denver Mints in most grades. I attribute this to similar overall production quality. Both mints were using well-maintained equipment and dies in 1973.
Second, values really start to accelerate in grades MS66 and higher. This mirrors the broader trend in modern coin collecting, where ultra high-end examples command exponential premiums. A superb MS68 1973 half dollar is around 50 times rarer than even an MS66. If you‘re willing to pay for the best of the best, be prepared to open your wallet!
On the proof side, collectors benefit from an unusually large mintage of over 2.7 million coins. This keeps prices reasonable up until the top grades. Gems graded PR69 and PR70 by PCGS or NGC regularly sell for $100 to $200. Cameo contrast is desirable and adds to the value.
Die Varieties and Errors
For many Kennedy enthusiasts, much of the fun lies in hunting for elusive die varieties and errors. While the 1973 half dollar lacks an iconic error on par with 1964‘s Accented Hair or 1974‘s Doubled Die Obverse, sharp-eyed collectors can still be rewarded for their efforts.
One of my favorite varieties is the so-called "Stubby 7." On certain dies, the flag of the 7 in the date appears shorter and less pronounced than normal. This was likely caused by die deterioration or a minor hub defect. While not dramatic, the Stubby 7 adds a bit of character to an otherwise common coin.
Other die markers to look for include minor doubling on the lettering and date, as well as die chips and cracks. Late die state coins can show small raised lumps or spikes caused by die damage. These are popularly referred to as "cuds."
Moving into the realm of errors, there are a few major types that command a premium:
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Off-center strike: The dies were misaligned when they struck the coin, resulting in an incomplete image that‘s shifted toward the edge. The value depends on how far off-center the strike is. A 5% or 10% off-center may bring $50, while a dramatic 50% off-center can fetch $500 or more.
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Clipped planchet: If the coin blanks aren‘t punched out correctly from the metal strip, a straight or curved clip can be left on the planchet. When struck, this results in a crescent-shaped coin. Minor clips are common, but large clips over 10% are highly sought-after.
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Double strike: In rare instances, a coin can be struck multiple times by the dies. If the strikes are off-center from each other, you‘ll see a dramatic double image. Prices range from $100 for minor double strikes to over $1,000 for extreme examples.
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Broadstrike: If a coin isn‘t properly confined by the collar die when struck, the metal can spread out and create an oversized coin. Broadstrikes are popular errors that start around $50 in circulated grades.
Cherrypicking any of these errors from bulk lots or original mint sets can be quite lucrative. But be aware that many errors are subtle and require a trained eye to spot. When in doubt, ask an experienced collector or professional grader for their opinion.
Collecting the Kennedy Series
For many numismatists, the 1973 half dollar is just one piece of a larger collecting puzzle. The Kennedy half dollar series offers a wealth of short and long-term collecting opportunities.
One popular approach is to assemble a complete date and mintmark set from 1964 to the present. This includes both circulation strikes and proofs. With silver issues, clad issues, and special strikings like the 1975-1976 Bicentennial coins, there‘s no shortage of variety. A nice Uncirculated or Proof set housed in a custom holder makes an impressive display.
Other collectors chase finest known or condition census coins for each issue. The PCGS and NGC population reports show how many coins have been graded at each level, allowing you to determine the rarity of top-end examples. Some issues like the 1974-D and 1982-P are surprisingly difficult to find in MS67 and higher grades. For the deep-pocketed collector, building a world-class Kennedy set is the ultimate challenge.
If you‘re on a limited budget, I suggest focusing on a particular decade or era. The 1970s clad coins are an approachable starting point. The 1973 half dollar is a key date within that range due to its lower mintage. Expand from there into the 1974-1979 issues and you‘ll have an impressive mini-set.
Tips for Buying and Selling
As with any coin, it‘s important to be an educated consumer when buying and selling 1973 half dollars. Here are a few tips I‘ve learned over the years:
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Buy certified coins: For anything above low-end circulated grades, I recommend purchasing coins certified by PCGS, NGC, ANACS, or ICG. These third-party grading services provide assurance of authenticity and condition. Be wary of raw coins in holders or flips, as counterfeits and doctored coins do exist.
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Focus on eye appeal: A coin‘s technical grade only tells part of the story. I‘ve seen MS66 half dollars that were ugly ducklings and MS64s that were swans. Look for coins with attractive toning, clean surfaces, and a minimum of distracting marks. These "high-end" coins often command a premium over average examples in the same grade.
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Cherrypick varieties: If you have a good eye, you can make money by cherrypicking valuable die varieties from dealer inventory. Many sellers don‘t have the time or knowledge to attribute varieties, so bargains can be found. Use a reference book like The Cherrypickers‘ Guide to help identify key markers.
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Consider bullion values: With a copper-nickel clad composition, 1973 half dollars have no precious metal value. But if you come across a silver clad planchet error, be sure to weigh it. These rare off-metal strikes can contain up to $10 in melt value alone!
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Get multiple opinions: If you‘re unsure about a coin‘s grade or variety, don‘t hesitate to ask other collectors for their input. Online forums like the PCGS Message Boards and CoinTalk are great resources. Many experts are happy to share their knowledge and help newer collectors learn.
Final Thoughts
The 1973 Kennedy half dollar may never be a headline-grabbing rarity, but it offers plenty of excitement for the savvy collector. From high-grade gems to unusual errors and varieties, there‘s something for every taste and budget.
More broadly, the Kennedy series is a fascinating lens through which to view American history and culture. Issued in the wake of a national tragedy, these coins have been a constant presence in our change for over five decades. Studying their evolution from precious metal to clad composition, and from circulation workhorses to collector favorites, reveals much about our evolving relationship with money.
So the next time you find a 1973 half dollar in your pocket, take a moment to appreciate its place in numismatic history. And who knows? With a sharp eye and a bit of luck, you might just discover a hidden treasure.
