Kennedy half dollar

Succeeding the Franklin half dollar, the Kennedy half dollar is a coin of the United States first minted in 1964, the year following the assassination of President John F. Kennedy. It features the face of President John F. Kennedy on the obverse and an eagle on the reverse. The obverse was designed by Gilroy Roberts and the reverse was designed by Frank Gasparro.

pecifications

*Obverse design: President John F. Kennedy
*Reverse design: The Seal of the President of the United States
*Bicentennial reverse designer: Seth Huntington
*Bicentennial reverse design: Independence Hall in Philadelphia
*Edge: reeded
*Diameter: 30.6 mm
*Thickness: 2.15 mm

Composition

The Kennedy half dollar was struck in 90% silver in 1964. The following year, this was changed to silver-clad, with the silver content lowered to 40%. In 1971, the circulation coinage composition was changed a final time, eliminating the silver, and using the copper-nickel clad standard common to the dollar, quarter, and dime. Bicentennial half dollars dated 1776-1976 were produced in the years 1975 and 1976 in the copper-nickel clad composition for circulation and proof and also in the 40% silver composition in uncirculated and proof versions for inclusion in special collector sets. When the United States Mint started producing silver proof sets in 1992, the Kennedy half dollar included in them had the same composition as the coins of 1964.

Silver issue (regular circulation in year 1964, silver proof sets from 1992 to date):
* Weight: 12.5 g
* Composition: 90% silver, 10% copper
* Silver content: 11.25 g (0.3617 troy oz)

Silver-clad issues (regular circulation in years 1965-1970, proof set in years 1975-1976):
* Weight: 11.5 g
* Composition:
*: Outer layers: 80% silver, 20% copper
*: Inner layers: 20.9% silver, 79.1% copper
* Silver content: 4.60 g (0.1479 troy oz)

Copper-nickel clad issues (regular circulation from 1971 to date):
* Weight: 11.34 g (0.4 oz avoirdupois)
* Composition: 75% copper, 25% nickel

History

The Kennedy half dollar replaced the Franklin half dollar within a year of the assassination of President John F. Kennedy. In fact, Gilroy Roberts, the former chief engraver of the mint, and Frank Gasparro, the current chief engraver at the time, designed the coin a mere five days after Kennedy's death—though the profile of Kennedy was the same one Roberts had used for Kennedy's inaugural medal two years earlier.

Ironically, the new Kennedy design caused the slow disappearance of the half-dollar as a regular mainstream circulating coin, through a series of unrelated events. First, collectors and even ordinary citizens hoarded the coins of 1964, due to the "new" design and because of sentiment for the late President Kennedy. In 1965 silver was no longer found in newly-minted dimes and quarters (becoming copper-nickel clad), but silver remained in the half-dollar. The older Franklin halves of 90% silver were quickly removed from circulation by collectors and hoarders, and since the public now hoarded silver coins, most of the 90% silver 1964s, as well as the 40% silver composition 1965-1970 halves, saw little circulation as well. By time the Kennedy half dollar became regular copper-nickel clad in 1971, many banks and merchants were already used to no longer stocking and using the denomination as they were prior to 1964. The half dollar has always circulated to some extent, but has not at the level of circulation it had before 1964. Given the facts that the cash drawers of most merchants do not contain a place for quantities of half dollars, that most vending machines do not accept them, and that the dollar coin is smaller and is the subject of a push for acceptance, the half is likely to retain its limited circulation status.

When the 1964 proof coins were first minted, the "I" in "LIBERTY" had a truncated lower-left serif, and the hair above Kennedy’s ear was heavily incised. After approximately 120,000 coins were produced, the dies were revised and the hair smoothed slightly. Jacqueline Kennedy was thought to have disliked the earlier, "accented hair" version (as it came to be known), although the lower relief design might have also have been introduced to facilitate production. [cite web |url=http://www.ngccoin.com/news/viewarticle.aspx?NewsletterNewsArticleID=69 |title=Modern Coin of the Month: 1964 Accented Hair Kennedy Half Dollar |accessdate=2008-03-02 |last=Turner |first=Jay |date=2007-04-01 |publisher=Numismatic Guaranty Corporation |quote=It is rumored that the former first lady, Jacqueline Kennedy, disliked the heavy hair lines above the ear. Another motive may have been to weaken the design for production purposes.] Coins produced from the first die typically sell for about four times those from the later version. However, since a substantial number of the earlier coins seem to have been poorly struck, top quality specimens can fetch even higher prices.

After the 1964 coin's introduction (around the height of the cold war), the Denver Mint received a number of complaints that the base of Kennedy’s neck bore the hammer and sickle symbol. However, closer examination will reveal that the mark is actually a script form of the initials "GR": Gilroy Roberts’ monogram. [cite web |url=http://www.time.com/time/magazine/article/0,9171,875809-2,00.html |title=Time online archive |accessdate=2008-03-02|date=1964-04-17 |publisher=Time magazine |quote=Complaints are coming into the Denver mint that there is a hammer and sickle on the coin. Wearily, the mint's Chief Sculptor and Engraver Gilroy Roberts, 59, explains: "It's my monogram, a G. and an R. in script, combined.]

In 1975 and 1976, the bicentennial half dollar was minted showing Independence Hall on the reverse. All of the bicentennial halves are dated "1776–1976." While the special half sparked some interest in the public, when the half returned to its regular design in 1977, it continued its decline in use and mintage. Since 2002, the coins have not been released for normal circulation, but only in special mint rolls, mint sets, and proof sets for collectors. This is due to the mint & Federal Reserve having a large stockpile inventory of previous years halves, still available for bank & commercial demand, probably in part due to US Casinos switching over to "coinless" slot machines, which were the last big commercial demand for half-dollars. When this stockpile eventually dwindles down, they may again produce new halves for regular circulation, as is also occasionally done for US Dollar coins and Two Dollar Bills.

There is still some demand left for half dollars for use at casinos, where they can be used in paying off odd-dollar bets in blackjack and other games. For example, if a player gets "blackjack" at that game with a five-dollar bet, he or she is to be paid $7.50. Some casinos now use a fifty-cent casino chip.

Mints

In 1964, the mint mark appeared on the reverse, under the eagle's left talon. Starting in 1968, mint marks appear above the second and third numbers in the date under Kennedy's neck. Mint marks as of 2007 include:
*Blank (Philadelphia Mint in Philadelphia, Pennsylvania), 1964–1979
*P (Philadelphia Mint, 1980—
*D (Denver Mint in Denver, Colorado)
*S (San Francisco Mint in San Francisco, California)

All San Francisco Kennedy halves are proofs, except for those minted for the 40% silver Bicentennial uncirculated sets. Proof coins were minted at Philadelphia in 1964, but all other proofs were minted at San Francisco.

Mintage figures

Kennedy Half Dollars, 1964 (90% silver)
* 1964 - 273,304,004
* 1964 D - 156,205,446Kennedy Half Dollars, 1965-1970 (40% silver)
* 1965 - 65,879,366
* 1966 - 108,984,932
* 1967 - 295,046,978
* 1968 D - 246,951,930
* 1969 D - 129,881,800
* 1970 D - 2,150,000Kennedy Half Dollars, 1971-present (cupro-nickel)
* 1971 - 155,164,000
* 1971 D - 302,097,424
* 1972 - 153,180,000
* 1972 D - 141,890,000
* 1973 - 64,964,000
* 1973 D - 83,171,400
* 1974 - 201,596,000
* 1974 D - 79,066,300(no known half dollars dated 1975)
* 1976 - 234,308,000 (bicentennial)
* 1976 D - 287,565,248 (bicentennial)
* 1977 - 43,598,000
* 1977 D - 31,449,106
* 1978 - 14,350,000
* 1978 D - 13,765,799
* 1979 - 68,312,000
* 1979 D - 15,815,422
* 1980 P - 44,134,000
* 1980 D - 33,456,449
* 1981 P - 29,544,000
* 1981 D - 27,839,533
* 1982 P - 10,819,000
* 1982 D - 13,140,102
* 1983 P - 34,139,000
* 1983 D - 32,472,244
* 1984 P - 26,029,000
* 1984 D - 26,262,158
* 1985 P - 18,706,962
* 1985 D - 19,814,034
* 1986 P - 13,107,633
* 1986 D - 15,336,145
* 1987 P - 2,890,758
* 1987 D - 2,890,758
* 1988 P - 13,626,000
* 1988 D - 12,000,096
* 1989 P - 24,542,000
* 1989 D - 23,000,216
* 1990 P - 22,278,000
* 1990 D - 20,096,242
* 1991 P - 14,874,000
* 1991 D - 15,054,678
* 1992 P - 17,628,000
* 1992 D - 17,000,106
* 1993 P - 15,510,000
* 1993 D - 15,000,006
* 1994 P - 23,718,000
* 1994 D - 23,828,110
* 1995 P - 26,496,000
* 1995 D - 26,288,000
* 1996 P - 24,442,000
* 1996 D - 24,744,000
* 1997 P - 20,882,000
* 1997 D - 19,876,000
* 1998 P - 15,646,000
* 1998 D - 15,064,000
* 1999 P - 8,900,000
* 1999 D - 10,682,000
* 2000 P - 22,600,000
* 2000 D - 19,466,000
* 2001 P - 21,200,000
* 2001 D - 19,504,000
* 2002 P - 3,100,000
* 2002 D - 2,500,000
* 2003 P - 2,500,000
* 2003 D - 2,500,000
* 2004 P - 2,900,000
* 2004 D - 2,900,000
* 2005 P - 3,800,000
* 2005 D - 3,500,000
* 2006 P - 2,400,000
* 2006 D - 2,000,000
* 2007 P - 2,400,000
* 2007 D - 2,400,000
* 2008 P - 1,700,000
* 2008 D - 1,700,000

References

*Yeoman, R.S. "A Guide Book of United States Coins". Atlanta: Whitman Publishing, 2004.
*Edler, Joel and Harper, Dave. "U.S. Coin Digest". Iola: Krause Publications, 2004.

Notes

External links

* [http://www.pcgs.com/prices/frame.chtml?type=date&filename=kennedy_half_mod PCGS Price Guide for Kennedy half dollars]
* [http://coinfacts.com/half_dollars/kennedy_half_dollars/kennedy_half_dollars.html Kennedy half dollar mintages at coinfacts.com]
* [http://www.coinpage.com/Kennedy%20Half%20Dollar-coin-pictures.html Kennedy half dollar photos and coinpage.com]

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