The 1964 Kennedy Half Dollar holds a special place in American numismatics, not only as a tribute to a beloved president but also for its unique position in U.S. coinage. The coin was minted in the wake of President John F. Kennedy’s assassination and quickly became an item of significance to collectors and the general public alike. This guide explores the history, value, and distinct characteristics of the 1964 Kennedy Half Dollar and why it continues to fascinate collectors.
The Historical Significance of the 1964 Kennedy Half Dollar
Following the assassination of President John F. Kennedy on November 22, 1963, there was a strong desire among the American public to memorialize the fallen leader. Just weeks after his death, Congress proposed that the Kennedy Half Dollar be minted in his honor, replacing the Benjamin Franklin half dollar design that had been in circulation since 1948.
A Tribute to a Beloved President
The 1964 Kennedy Half Dollar was created under exceptional circumstances. Although there is typically a ten-year waiting period before a new coin design can be introduced, Congress waived this rule, allowing for a rapid transition to the Kennedy design. The coin was officially released to the public in March 1964, less than a year after Kennedy’s death. The design features a profile of Kennedy on the obverse (front) side, with the Great Seal of the United States on the reverse.
Minting and Production
The coin was produced at both the Philadelphia and Denver Mints, with Philadelphia producing the majority of the mintage. In total, over 273 million Kennedy Half Dollars were minted in 1964, with both proof and business strike versions available to the public. However, due to high demand from both collectors and the general public, the coins quickly became scarce in circulation.
The 90% Silver Composition of the 1964 Kennedy Half Dollar
One of the distinguishing characteristics of the 1964 Kennedy Half Dollar is its silver content. It was the last half dollar to be struck with a high percentage of silver, as rising silver prices in the early 1960s led to significant changes in U.S. coinage composition.
Transition from Silver to Clad Composition
In 1965, a year after the release of the Kennedy Half Dollar, the U.S. Mint changed the composition of most circulating coins, including the half dollar, from 90% silver to a copper-nickel clad composition. The 1964 Kennedy Half Dollar, therefore, holds the distinction of being the last circulating half dollar with a 90% silver composition.
Silver Melt Value and Intrinsic Worth
The silver content of the 1964 Kennedy Half Dollar makes it valuable not just to numismatists, but to bullion investors as well. Each coin contains approximately 0.3617 ounces of pure silver. When silver prices are high, the melt value of these coins can be significant. For instance, if silver were valued at $20 per ounce, the melt value of a 1964 Kennedy Half Dollar would be approximately $7.23. This intrinsic worth fluctuates with the silver market, making it an attractive coin for both collectors and investors.
Design Features of the 1964 Kennedy Half Dollar
The design of the Kennedy Half Dollar is one of its most iconic elements. Chief Engraver of the U.S. Mint, Gilroy Roberts, and Assistant Engraver Frank Gasparro collaborated to create the coin’s design.
The Obverse – A Profile of John F. Kennedy
The obverse side of the coin prominently features a profile of Kennedy, designed by Roberts. The image is striking and powerful, capturing Kennedy’s determined expression. Roberts used a photograph of Kennedy as a reference, and the design was quickly recognized as a fitting tribute to the late president.
The Reverse – The Presidential Seal
On the reverse, Gasparro created a rendition of the Presidential Seal, featuring an eagle with an olive branch and arrows. The eagle’s pose, with wings spread wide, symbolizes strength and resilience. This design has remained largely unchanged on subsequent Kennedy Half Dollars, contributing to the continuity and iconic status of the coin.
The Value of a 1964 Kennedy Half Dollar
The value of a 1964 Kennedy Half Dollar varies based on its condition, mint mark, and any special characteristics it may have. Here, we’ll look at what collectors consider when assessing the value of these coins.
Condition and Grading
As with all collectible coins, the condition of a 1964 Kennedy Half Dollar plays a major role in determining its value. Coins are typically graded on a scale from Poor (P-1) to Perfect Uncirculated (MS-70). A circulated 1964 Kennedy Half Dollar may be worth slightly above its silver melt value, while a coin in uncirculated condition can fetch significantly higher prices. Grading by a reputable service, such as the Professional Coin Grading Service (PCGS), adds credibility to the coin’s value.
Mint Marks and Rarity
The 1964 Kennedy Half Dollar was minted at both the Philadelphia and Denver Mints, indicated by a “D” mint mark for Denver coins. While both versions were minted in high quantities, Denver coins tend to be slightly less common in high grades, making them more desirable to some collectors. Proof coins, struck with a mirror-like finish, are also available and command higher prices, especially in pristine condition.
Errors and Varieties
Like many coins, the 1964 Kennedy Half Dollar has a few notable errors and varieties that are highly sought after by collectors. One of the most famous is the “Accented Hair” variety, which is characterized by additional detail in Kennedy’s hair. This variant was produced in limited quantities and is generally found only on proof coins. Another notable variety is the “Double Die Obverse,” where some elements of the design appear doubled. These rare varieties can significantly increase the value of a 1964 Kennedy Half Dollar.
Tips for Collecting the 1964 Kennedy Half Dollar
If you’re interested in collecting the 1964 Kennedy Half Dollar, here are some useful tips to help you get started and ensure you’re adding quality pieces to your collection.
Buy from Reputable Dealers
When purchasing 1964 Kennedy Half Dollars, especially high-grade or error coins, it’s crucial to buy from reputable dealers. Coins should ideally be certified by a professional grading service to confirm their authenticity and condition. Avoid buying uncertified coins from unknown sources, as counterfeits do exist.
Proper Storage and Handling
Silver coins like the 1964 Kennedy Half Dollar are prone to tarnishing and scratches. Store your coins in a cool, dry place, and consider using coin holders or capsules for added protection. Avoid handling the coins directly, as the oils on your fingers can cause discoloration over time.
Stay Informed on Silver Prices
The intrinsic value of a 1964 Kennedy Half Dollar is linked to the price of silver. Staying updated on silver market trends can help you make informed decisions about buying or selling these coins. When silver prices are high, you may find that even circulated coins command a premium over their face value.
Conclusion: The Legacy of the 1964 Kennedy Half Dollar
The 1964 Kennedy Half Dollar is more than just a coin; it’s a piece of American history. From its role as a tribute to an iconic president to its position as the last 90% silver half dollar, this coin has captivated collectors and investors alike for decades. Whether you’re a seasoned collector or new to the world of numismatics, the 1964 Kennedy Half Dollar offers both historical significance and investment potential. Its timeless design and lasting legacy ensure that it will continue to be cherished for years to come.