In 1948, a lot was changing in the United States. Still reeling from the effects of World War II and new international tensions arising, the country was feeling a little uneasy. However, U.S. coinage was also changing in a big way as the “golden age of U.S. coinage art” was coming to an end. The Walking Liberty half dollar was the only precious metal coin remaining from the early 20th century period of coinage that included the Mercury dime and Standing Liberty quarter. With its last year of production in 1947, it gave way to a new half dollar and would move coinage design into representing more than just allegorical figures.
Franklin Half Dollar (1948-1963)
Ever since Mint Director Nellie Tayloe Ross saw the U.S. Mint medal featuring the portrait of Benjamin Franklin in his honor, she was seriously considering featuring the famous American on a U.S. coin. It was prepared by then-Mint Chief Sculptor/Engraver John R. Sinnock in 1932. It was even said that before the war, Ross planned to change the half dollar in the early 1940s but it would take a back seat as the demands of production led by the war would outweigh the enthusiasm she would have for such a change. She would, however, direct Sinnock to begin a design featuring Franklin. A Founding Father, Franklin would play a pivotal role in the colonies gaining independence in addition to his other incredible successes and American contributions. It was not hard to figure out why he was chosen to be depicted in the next design of the half dollar.
Sinnock would base his portrait of Franklin after the bust created by Jean-Antoine Houdon, an 18th-century sculptor. A bold LIBERTY is inscribed along the top rim of the design above Franklin while IN GOD WE TRUST is featured along the bottom rim. The date is to the right of a right-facing Franklin with Sinnock’s initials featured on his shoulder, JRS. The reverse depicts the Liberty Bell (Philadelphia), a complement to Franklin and also a symbol of his help at seeing a nation born. UNITED STATES OF AMERICA is above the bell with HALF DOLLAR below and the motto E PLURIBUS UNUM featured to the right of the landmark.
To the right of the bell is a small eagle. The addition of the eagle was featured as required by law on the half dollar—a law that was outlined in 1792 and again confirmed in the Coinage Act of 1873. It mandated that there be an eagle placed on every United States silver coin larger than a dime. While Sinnock would not live to see the Franklin half dollar go into production (died in 1947), the eagle was added by Gilroy Roberts.
While there are not any particular rarities within the series, the Franklin half dollar’s lowest mintage came in 1953 with just 2,668,120 from Philadelphia. The highest number came in 1963 from Denver as there were over 67 million minted in its last year of production. They were produced in Philadelphia, Denver, and San Francisco as the mint marks appear (D or S) above the bell on the reverse. The series was only produced for 16 years as it was cut short due to the death of President John F. Kennedy.
Kennedy Half Dollar (1964-Date)
The story behind the Kennedy half dollar is one that is unlike any other. After the tragic passing of the 35th President of the United States on November 22, 1963, as a result of an assassination, the Director the United States Mint quickly jumped into action. Then-Director Eva Adams made a call to the Chief Engraver of the United States Mint, Gilroy Roberts, and relayed the serious consideration that was being taken into placing President Kennedy’s portrait on a U.S. silver coin. The ones under discussion were the quarter, half dollar, and dollar denominations. A few days later it was then relayed to Roberts that the half dollar had been chosen as the profile portrait that appeared on the Mint list medal for President Kennedy was to be used and the President’s seal was to be used on the reverse.
Roberts would immediately get to work on the design with help from longtime Assistant Engraver, Frank Gasparro. Roberts would take on the obverse with Gasparro creating the new reverse. They were under a tremendous amount of pressure given that the Mint did not want any 1964 Franklin half dollars produced or to issue any existing ones. However, at the time, there was a national coin shortage. This meant that the new half dollar had to be ready for production by the new year or they would risk the shortage growing worse.
Another issue they had to overcome to get the Kennedy half dollar made in such a short time was an already existing law. The law, which we have talked about often, stated that U.S. coin designs could not be changed more often than every 25 years. The Franklin half dollar would only be entering its 16th year of production in 1964, which caused major concern. The replacement of the design rested on the hands of Congress. After back and forth discussions, Congress would ultimately decide that the nation’s loss of the President would warrant such a change as they managed to pass legislation allowing for the half dollar replacement. However, time was running out and finally the Act of December 30, 1963, would enact the production of the 1964 Kennedy half dollar.
The first of the Kennedy half dollars in 1964 were Proof issues. By the end of January, regular coins were being issued from the Denver Mint as Philadelphia would follow suit a week later. They were finally released into circulation in late March of 1964. The amount of Kennedy half dollars produced in its first year of issue far exceeded any mintage that was produced for previous half dollars. Over 273 million coins came from Philadelphia while over 156 million came from Denver in 1964.
With that being said, coins were disappearing as fast as they were being released, making the current coin shortage even more dire. Congress would end up freezing the 1964 date on U.S. coins to curb this issue which was stoked by hoarding collectors and a lack of efficient methods for distribution and recirculation. They would even eliminate silver from other denominations like the dime and quarter in 1965 as they would compromise on the precious metal content making up the half dollars. From 1965-1970, the half dollar’s silver content would be reduced and replaced almost entirely. They were deemed silver-clad pieces as copper made up the biggest part of the coins.
From 1971 on, the coins were struck in a clad composition, eliminating silver altogether. The Bicentennial halves bearing the dual date of 1776-1976 were struck in both copper-nickel-clad and silver-clad compositions in celebration of the nation’s birth. The silver-clad coins were not released into circulation though as they were sold primarily to collectors at premium prices. They would feature a different reverse showing Independence Hall in Philadelphia. From 1977-current year, the Kennedy half dollar design has remained unchanged.
Proof versions, including silver and clad, were also produced with the Kennedy design throughout the years in addition to a very special gold Kennedy that was struck in 2014 honoring the 50th Anniversary of the death of President Kennedy. They are still struck for circulation purposes as well as being included in the Mint’s annual sets (Uncirculated, Proof, Silver Proof).
Source: NGC Coin; The Official 2023 Red Book
