Many series of coins depict the faces of presidents or other political and cultural figures as a tribute, and John F. Kennedy tokens are no exception.
But before checking the Kennedy Half Dollar value, it is important to note that in addition to the obvious reason to honor the deceased president, these tokens indicate a very important economic event — the transition from more expensive currency materials to cheaper ones.
The obverse of the coin depicts the profile of John F. Kennedy.
The reverse features the presidential seal, a bald eagle with an olive branch and arrows surrounded by stars.
Over the past decades, the Kennedy half dollar series has undergone changes in composition
1964: 90% silver
1965-1970: 40% silver
Since 1971: Copper-nickel alloy
Despite the fact that most modern half-dollars have a small value above face value, certain issues, trial prints, coins with errors and copies in grades MS-67 and higher reach the value of tens and even hundreds of thousands of dollars at auctions.
TOP 10 Most Valuable Kennedy Half Dollars
The value of a coin is determined by its numismatic condition according to the Sheldon scale: MS — for regular minted coins, PR or PF — for polished, Proof, rarity and historical significance.
Half Dollar 1964 PR-70 Deep Cameo (Perfect Test Print)
The 1964 coin has the highest silver content (90%) and is the first issue, but its price is determined not by the metal, but by its condition and type of coinage.
PR-70 (Proof-70) means absolutely perfect condition — a coin without a single visible scratch, scuff or defect, even when magnified tenfold. The Deep Cameo (DCAM) or Ultra Cameo (UCAM) status indicates the strongest contrast between the specular field of the coin and the matte, embossed image. It was extremely difficult to achieve such a quality of coinage on 1964 coins.
Such coins are extremely rare, since even minimal defects received during transportation or packaging reduce their value.
The most expensive known copy of the 1964 Kennedy half dollar in PR-70 condition was sold at auction for $156,000.
Half Dollar 1964 SMS (Special Mint Set)
The SMS coins, minted in 1964, are one of the greatest mysteries in the history of the U.S. Mint. Officially, the minting of special mint sets for sale to the public began only in 1965.
The 1964 SMS coins are distinguished by their unique surface treatment, which is somewhere between a standard coin for circulation (Business Strike) and a polished test print (Proof).
It is believed that there are only a few dozen such coins. This makes them one of the rarest and most sought-after in the series.
Copies in the highest grades for example, SP-67 or SP-68 are regularly sold for amounts exceeding $40,000 — $50,000.
Half Dollar 1964 “Accented Hair”, PR-68/PR-69 DCAM
Early 1964 test prints had more accented strands of hair above Kennedy’s right ear. According to rumors, Jacqueline Kennedy asked to soften these lines, which led to a change in the stamp.
Thus, the “Accented Hair” variant is one of the first minted varieties.
The main difference is the visible divisions in the hair, as well as the slightly modified shape of the letter “I” in the word LIBERTY (thickened lower left curl).
It is believed that this variety is present in less than 5% of the total circulation of the 1964 trial coins.
Exceptionally rare copies of the PR-69 Deep Cameo were sold at auctions for $64,800 and above.
Half Dollar 1970-D, MS-66/MS-67
1970 was the last year of the minting of half dollars with 40% silver content. Due to the 1970 Coin Law, these coins were not released into free circulation, but were distributed only as part of official coin sets.
The circulation was extremely limited compared to previous years. This made the 1970-D coin automatically rare for collectors who had been searching for complete coin sets since 1964.
While the 1970-D coin is found in coin sets, it is extremely difficult to find it in perfect condition (MS-66 and above) with an impeccable shine and without traces of contacts.
High-quality, almost perfect copies in the MS-67 grade were sold at auctions for more than $4,000 – +$10,000.
Half Dollar 1964-D, MS-68
The 1964-D coin, minted in Denver, contains 90% silver. Its value in this case is not related to errors, but is entirely determined by the exceptional grade.
Most of these coins were stored in wallets, where they quickly became damaged. Getting the MS-68 grade for a coin in regular circulation in 1964 is a statistical miracle.
The highest recorded auction value for a 1964-D half dollar in MS-68 condition was $32,900.
alt: Half Dollar 1964-D, MS-68
Half Dollar 1972-D “No FG”
On a 1972 coin minted in Denver (D), the absence of initials is one of the rarest and most valuable varieties of “No FG” in the Kennedy series.
It is necessary to carefully examine the area above the eagle’s tail on the reverse.
This variant of 1972-D is much less common than similar errors on 1966 SMS or 1971-D coins. It is 1972-D that is most coveted by collectors.
High-grade specimens, such as the MS-65, were sold at auctions for more than $2,750.
Half Dollar 1974-D DDO
Image doubling errors are among the most popular and expensive coinage errors. DDO means doubling the image on the obverse.
The 1974 coin, minted in Denver (D), has the most significant image doubling in the Kennedy series. The doubling is usually clearly visible in the inscription IN GOD WE TRUST and sometimes on the inscription LIBERTY and the portrait itself.
It is believed that there are only a few thousand such coins, which makes them relatively rare.
The most striking doubling is seen on the letters IN GOD WE TRUST.
Uncirculated samples (MS-65) are sold for $1,850 and above.
Half Dollar 1998-S Matte Finish
This silver half dollar was issued as part of the Kennedy Collector’s Set. Unlike the standard mirror-field test prints, this edition had a unique Matte Finish.
The circulation was very low — only about 62,000 copies, which instantly made it rare.
Due to the low circulation and unique finish, this coin is in high demand among collectors of modern issues.
Copies in perfect condition PR-69 and above are sold for $325 – $475 and more.
Half Dollar 1967 SMS, MS-69
The 1967 coins minted in San Francisco were issued as part of SMS. Their value in this case is determined not by an error, but by achieving the highest possible grade.
It is incredibly difficult to find an SMS coin in MS-69 condition, almost perfect, only one step away from perfection, since even minor manufacturing defects or packaging traces are often found on these coins.
A 1967 SMS sample in MS-69 condition was sold at auction for $9,600.
Half Dollar 1968-S, PF-70
The 1968-S coin, minted in San Francisco, represents an early issue after the resumption of the traditional Proof program. Achieving grade PF-70 for this coin makes it extremely rare.
Perfect Proof coins from early issues (1968-1970) are difficult to find due to the packaging technology of that time.
A 1968 half-dollar in PF-70 condition was sold for $22,325.
In-Depth Analysis of Cost Factors
In order to understand why the listed coins are so expensive, it is necessary to consider the key numismatic factors:
Safety
In the Kennedy Half Dollar series, where circulations often numbered in the tens and hundreds of millions, it is the grade that plays a crucial role in pricing.
Refers to the contrast between the coin’s field and the relief. The stronger the specularity of the field and the more opaque the portrait, the higher the price. DCAM coins are the most expensive in the Proof category.
The Role Of Silver Content
Despite the fact that the coins of 1964 (90% silver) and 1965-1970 (40% silver) have an intrinsic value related to the price of the metal, the numismatic value of the most expensive copies is many times higher than the value of silver.
90% Silver (1964): These coins always have a base value of about $10-$15 and above
40% Silver (1965-1970): They are also valued above face value
The Rarity of Errors and Varieties
Accented Hair (1964) variation of the first year of minting, created due to an operational change in the stamp, is the most famous and historically significant.
SMS Coins (1964-1967) were issued in limited editions or should not have existed at all (1964), making them automatically rare.
Mint Value and Year
1987-P and 1987-D coins are also very valuable, since in 1987 half dollars were not minted for circulation, but were issued only as part of coin sets, which sharply limited their availability.
Collectible Perspectives
All coins of 1964 year contain 90% silver and are the basic element of the collection. It is necessary to look for Proof prints with contrasting cameo (DCAM) and a variety of Accentuated Hair.
Look for SMS coins (1965-1967) and especially the key date 1970-D in high grades. These coins contain 40% silver.
Always check the coins for Double-Die errors (DDO, DDR) and especially for the absence of the designer’s initials (No FG, especially 1972-D).
Pay attention to issues with unique finishes, such as 1998’s Matte Finish, which were released in small editions.
Conclusion
In general, Kennedy tokens are probably one of the most popular among half-dollar coins, there are those who collect them out of respect for the person of the president himself and for his policies, and there are people who also consider them from the point of view of precious metals, we are talking about tokens in silver, because if you correctly benefit from the moment when the spot price for If silver is the highest, then you can sell tokens for a nice amount of money.
It doesn’t matter if there is anything close to the mentioned specimens in your collection, you should always study trends anyway in order to stay afloat and navigate numismatic trends.