The Kennedy half dollar is one of the most widely collected and iconic coins in U.S. history. First issued in 1964 as a tribute following the tragic assassination of President John F. Kennedy in 1963, the series has been in continuous production ever since. Over 5 billion have been struck for circulation by the U.S. Mint.
While most Kennedy halves you find in pocket change are worth only face value, certain dates, varieties, and high grade examples are highly sought after by collectors. Rare pieces have sold for over $100,000 at auction. What makes some Kennedy half dollars so valuable? Let‘s take an in-depth look at the key factors that determine their numismatic value.
Kennedy Half Dollar Metal Compositions
One important aspect that impacts a Kennedy half dollar‘s intrinsic and collectible value is its metal composition. Over the decades, the coins have been struck in 90% silver, 40% silver clad, and copper-nickel clad. Here is a breakdown:
- 1964 – 90% silver, 10% copper
- 1965-1970 – 40% silver clad (outer layers), 60% copper (inner core)
- 1971-present – Copper-nickel clad (8.33% nickel, balance copper)
- 1976-S – 40% silver clad (special collector strikes only)
The 1964 Kennedy half dollars containing 90% silver are worth significantly more than later-date clad issues. With a melt value of around $10 based on current silver spot prices, even common circulated 1964 halves are desirable to silver stackers. Mint State examples grading MS65 and higher sell for over $50 and up.
The 1965-1970 40% silver issues are also worth more than face value, with a melt value of $4-5 each. Clad halves dated 1971 and later contain no precious metal and are worth 50 cents in circulated condition. However, copper-nickel clad Kennedys in pristine uncirculated condition still have numismatic value to series collectors.
Key Dates, Rarities, and Varieties
Certain dates and mintmarks in the Kennedy half dollar series are scarcer than others. The U.S. Mint struck the coins at Philadelphia, Denver, and San Francisco over the years, with "D" and "S" mintmarks used to signify the branch mints. Some key dates to look out for include:
- 1964 – First year of issue, only 90% silver date
- 1964 Accented Hair – Rare variety, especially in Proof
- 1964 SMS (Special Mint Set) – Satin finish, rare
- 1965-1967 SMS – Special strikes, no true Proofs issued
- 1970-D – Low mintage, only 2.1 million struck
- 1974-D – Scarce in high Mint State grades
- 1974-S – Lowest regular-issue Proof mintage
- 1976-S Silver – 40% silver clad Proofs for Bicentennial
- 1979-S Type 2 Clear S Proof – Scarce Proof variety
- 1981-S Type 2 Proof – Another scarce Proof variety
- 1987 – Lowest clad business strike mintage
The coveted 1964 SMS (Special Mint Set) Kennedy is one of the most valuable in the entire series in superb condition. PCGS has graded only 12 at a perfect MS68, with the finest examples realizing over $45,000. The 1964 Accented Hair is another standout, especially in Proof format with Deep Cameo contrast. A PCGS PR68DCAM sold for $30,000 in 2021.
The 40% silver clad SMS issues from 1965 to 1967 are also desirable and valuable in high grades. A 1966 SMS graded MS68 by PCGS brought $16,450 in a 2019 auction. The low-mintage 1970-D is a key regular strike, worth over $400 in MS67 condition. Exceptional Proofs from the 1970s onward also gain value in flawless deep cameo PR70 condition.
Interesting Varieties and Mint Errors
The Kennedy half dollar series is known for some fascinating varieties and mint errors that command substantial premiums from variety collectors. Here are some notable ones to watch for:
- 1964 Proof Accented Hair – Rarest variety, valued in the tens of thousands
- 1966 SMS No FG – Missing initials of designer Frank Gasparro, $5,000+
- 1972-D No FG – Missing FG, strong strike overall, $500-$1,000
- 1974-D Doubled Die Obverse – Distinctive doubled profile, $350+
- 1979-S Type 1 & 2 Proofs – Filled S vs Clear S mintmark, $100-$250
- 1981-S Type 1 & 2 Proofs – Two different S styles, Type 2 worth $1,000+
- 1982-P No FG – Missing initials, $50-$150
- Off-Center Strikes – 3% to 75% off-center, varies widely in value
- Double Strikes & Brockages – Striking errors, $150 to $2,500
- Wrong Planchet Errors – Struck on lower denomination planchet, $500+
The famous No FG varieties from 1966, 1972-D and 1982-P are missing the tiny "FG" initials of designer Frank Gasparro normally found on the reverse between the eagle‘s legs. These omissions make for visually distinctive and valuable varieties in the series.
Off-center strikes, double strikes, brockages, wrong planchets, and other mint mistakes add character and eccentricity to the Kennedy series. Error coin collectors love them and will pay big money for dramatic examples, especially on key dates.
Condition is King
As with all collectible coins, condition is paramount to value. Kennedy half dollars are graded on a scale of 1 to 70 by the leading third-party grading services PCGS and NGC, with a grade of 70 considered perfect. Pristine, flawlessly preserved pieces are the most desirable and valuable.
Mint State (MS) Kennedys grading MS66 and higher are worth substantial premiums over common circulated coins. For example, the 1974-D is worth only face value in worn grades but commands over $300 in MS67. Superb MS68 examples are extremely rare, with PCGS reporting only 14 graded. An MS68 1974-D would likely sell for $5,000+.
Proof Kennedy halves are struck with polished dies and planchets and have brilliant, mirror-like surfaces. They were sold in annual Proof Sets from 1968 onward. Proof Kennedys are valued more for their technical perfection and eye appeal than absolute rarity. Top-graded flawless coins designated PR70DCAM by PCGS, with Deep Cameo frosted devices, are the ultimate examples.
The difference between a PR69DCAM and a perfect PR70DCAM can be tens of thousands of dollars for the series key dates and varieties mentioned earlier. Most late-20th century Proof Kennedys in PR69DCAM, however, still only sell for around $50-$100. Modern issues from the 2000s onward in perfect PR70DCAM typically bring under $200.
Pricing and Rarity
Regular-issue 1971-2022 copper-nickel clad business strike Kennedys are extremely common in circulated grades, with most worth only their 50 cent face value. Mint State examples are also common and inexpensive, often worth $1 to $5 in grades up to MS66. Only exceptional superb gems in MS67, MS68, and MS69 are really notable.
The 90% silver 1964 Kennedy halves are much more valuable across all grades. Circulated 1964 coins start around $10 based on melt value. Mint State 1964s are worth about $18 and up in MS60, $25 in MS63, $50 in MS65, $135 in MS66, and $2,500 in MS67. Gem examples with deep mirror surfaces and frosty devices designated MS66+ by PCGS have sold for $10,000.
The 40% silver 1965-1970 Kennedys fall somewhere in the middle. Most circulated examples are worth their $4-$5 silver value. Mint State pieces are generally priced at $10 to $30 in grades up to MS65. In MS66 and higher, most dates are worth hundreds. The 1970-D is again the standout, worth $175 in MS66, $400 in MS67, and over $5,000 in MS68.
Proof Kennedy half dollars from 1968 to the present are highly collected but often surprisingly affordable due to their relatively high mintages. PR69DCAM examples of most dates from the 1970s through the 1990s can be obtained for under $100. Only Proof Kennedys in perfect PR70DCAM condition sell for significant money.
The most valuable Proof Kennedys include the 1964 Accented Hair Deep Cameo (over $30,000 in PR69DCAM), the 1979-S Type 2 ($4,000+ in PR70DCAM), and the 1981-S Type 2 ($4,000+ in PR70DCAM). Proof errors and varieties are also highly prized. A unique 1973-S struck on a copper cent planchet sold for $10,800 in PR67.
Mint errors are among the most valuable Kennedy halves. A spectacular 1964 struck on a 90% silver clad quarter planchet in MS66 realized $7,200. A dramatic double-struck 1973-S in PR68UCAM with a flipover second strike sold for $9,600. The most valuable Kennedy error is a 1980-P struck on a Susan B. Anthony dollar planchet, which brought $22,325 in MS65.
Building a Kennedy Half Dollar Collection
The Kennedy half dollar series offers collectors a variety of ways to approach the hobby. Casual collectors often enjoy assembling a basic 1964-2022 date and mintmark set in circulated condition from pocket change and rolls. This is very achievable and can be accomplished on a modest budget.
More serious numismatists often focus on collecting high grade uncirculated and Proof Kennedys by date and mintmark. Completing this kind of pristine set in PCGS or NGC holders will be much more challenging and require deeper pockets to acquire the condition rarities in superb gem grades.
Variety and error collectors can have a field day with Kennedy halves. Searching for doubled dies, repunched mintmarks, missing initials, and striking mistakes adds another dimension of fun and excitement to collecting the series. Be sure to consult the Cherrypickers‘ Guide and other attributable variety references as you dive deeper into the series.
No matter how you collect them, the Kennedy half dollar series offers a little something for everyone. Collectors love the coins as a tangible connection to the fallen President so tragically lost decades ago. With their affordable base prices but sky-high valuations for key rarities, Kennedy halves represent an ideal playground for newcomers and seasoned numismatists alike.
