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Franklin Half Instructional Series #2: 1948D Half Dollar
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Franklin Half Instructional Series #2: 1948D Half Dollar.
This is he second installment of my instructional series on Franklin Halves. Each week (hopefully) I will add an excerpt on one of the coins of the series, and hopefully those of you who are interested in Franklins will add your own observations and pictures. By the end of the series we should wind up with a pretty comprehensive study of the Franklin series, along with some nice pictures as well. And who knows, maybe some other folks will do the same for other series!
Sources for this series generally include “An Analysis of Gem Franklins” by Jack Ehrmantraut and “The Complete Guide for Franklin Halves” by Rick Tomaska – two books which I feel every serious Franklin collector should read
1948D
Though it has a mintage over a million pieces higher than its sister coin of the inaugural year, the 1948D Franklin is slightly more difficult, though by no means rarer, than its Philadelphia counterpart. Again, because of this being the first year of issue, small quantities of the coin were put away, but not in the numbers that you find the 48P in. An interesting trait of this coin and of the 48P is that all coins display some degree of doubling on the reverse, though generally it is very minor. Coins from Denver display more pronounced doubling on the motto “E PLURIBUS UNUM” but generally only very strong doubling would bring any kind of premium and only then from a specialist.
Current population numbers from PCGS read as follows:
MS63 and lower - 198 in non FBL and 69 in FBL
MS64 - 612 in non FBL and 1113 in FBL
MS65 - 163 in non FBL and 643 in FBL
MS66 - 2 in non FBL and 60 in FBL
MS67 - None in either grade
An interesting characteristic that jumps out at you when you look at the population is that the number of coins graded above MS65FBL is significantly lower than for the 48P. To a large part this is due to how the coins were handled at the Denver mint in my opinion. Starting with this issue for the Franklin half, and going through the 53D, most coins that you find either in mint sets or in rolls are very “baggy”, meaning that they have a multitude of dings and nicks due in large part to how they were handled at the mint. The coin is generally well struck, and a good majority of the pieces, I would venture to say 70%+ have full bell lines. However, many of them would not get the designation due to hits in that area.
Luster on these pieces tends to be more of the creamy variety than of the blast white kind that you see on the 48P. Thus, brilliant white coins are very hard to find and would command a substantial premium over off white or toned pieces. To date I have not seen a truly blast white piece without any toning and in gem condition. Most gem coins of this date come from double mint sets, and thus display a brownish golden tone to them. In my estimation the D mint issues toned slightly better than the P mint issues, so you don’t see them in hideous toning as often as you see the Philly coins. However, finding a coin in superb toned condition is also a rarity, so these coins would bring a substantial premium as well. As mentioned before, these coins were handled very poorly at the Denver mint for some reason, so the coins you see out of original rolls will not only seem lack-luster, but will also have a multitude of hits and thus you should avoid thinking that you’ll find a monster gem if you are ever offered an original roll. I personally would not pay more than bid for these rolls if one were offered to me.
Prices for MS64FBL coins will range in the $35-$50 range depending on eye appeal. MS65FBL’s can range from $150-$250, again depending on whether these are toned with an appealing pattern or white. MS66FBL pieces are all together a different kettle of fish. Because of their handling, only 60 coins have reached the lofty grade of MS66FBL at PCGS. As such, these pieces will generally top the $1,500 range and continue climbing based on eye appeal. Blast white pieces and incredibly toned monsters with red, blue, or green toning would probably bring double that amount or more. No MS67 pieces have been graded by PCGS.
So, even though a million more coins were minted for this date, they are definitely harder to locate in gem condition. The luster is more subdued on these coins, the toning does not generally help the coins, and the handling marks definitely play a part on the state of preservation one finds these coins in. When looking at raw or third party graded pieces, you should pay very close attention to the main devices and the bell lines. Often while a piece may look gem to the naked eye, under 10X magnification you will see a multitude of small nicks and dings. These hits will generally relegate the piece to MS64 grades or less. Look for pieces that are first of all devoid of this chatter and display decent eye appeal. Good luck and have fun with Frankies!
1948D Franklin Half in MS66FBL from The Birmingham Collection:
This is he second installment of my instructional series on Franklin Halves. Each week (hopefully) I will add an excerpt on one of the coins of the series, and hopefully those of you who are interested in Franklins will add your own observations and pictures. By the end of the series we should wind up with a pretty comprehensive study of the Franklin series, along with some nice pictures as well. And who knows, maybe some other folks will do the same for other series!
Sources for this series generally include “An Analysis of Gem Franklins” by Jack Ehrmantraut and “The Complete Guide for Franklin Halves” by Rick Tomaska – two books which I feel every serious Franklin collector should read
1948D
Though it has a mintage over a million pieces higher than its sister coin of the inaugural year, the 1948D Franklin is slightly more difficult, though by no means rarer, than its Philadelphia counterpart. Again, because of this being the first year of issue, small quantities of the coin were put away, but not in the numbers that you find the 48P in. An interesting trait of this coin and of the 48P is that all coins display some degree of doubling on the reverse, though generally it is very minor. Coins from Denver display more pronounced doubling on the motto “E PLURIBUS UNUM” but generally only very strong doubling would bring any kind of premium and only then from a specialist.
Current population numbers from PCGS read as follows:
MS63 and lower - 198 in non FBL and 69 in FBL
MS64 - 612 in non FBL and 1113 in FBL
MS65 - 163 in non FBL and 643 in FBL
MS66 - 2 in non FBL and 60 in FBL
MS67 - None in either grade
An interesting characteristic that jumps out at you when you look at the population is that the number of coins graded above MS65FBL is significantly lower than for the 48P. To a large part this is due to how the coins were handled at the Denver mint in my opinion. Starting with this issue for the Franklin half, and going through the 53D, most coins that you find either in mint sets or in rolls are very “baggy”, meaning that they have a multitude of dings and nicks due in large part to how they were handled at the mint. The coin is generally well struck, and a good majority of the pieces, I would venture to say 70%+ have full bell lines. However, many of them would not get the designation due to hits in that area.
Luster on these pieces tends to be more of the creamy variety than of the blast white kind that you see on the 48P. Thus, brilliant white coins are very hard to find and would command a substantial premium over off white or toned pieces. To date I have not seen a truly blast white piece without any toning and in gem condition. Most gem coins of this date come from double mint sets, and thus display a brownish golden tone to them. In my estimation the D mint issues toned slightly better than the P mint issues, so you don’t see them in hideous toning as often as you see the Philly coins. However, finding a coin in superb toned condition is also a rarity, so these coins would bring a substantial premium as well. As mentioned before, these coins were handled very poorly at the Denver mint for some reason, so the coins you see out of original rolls will not only seem lack-luster, but will also have a multitude of hits and thus you should avoid thinking that you’ll find a monster gem if you are ever offered an original roll. I personally would not pay more than bid for these rolls if one were offered to me.
Prices for MS64FBL coins will range in the $35-$50 range depending on eye appeal. MS65FBL’s can range from $150-$250, again depending on whether these are toned with an appealing pattern or white. MS66FBL pieces are all together a different kettle of fish. Because of their handling, only 60 coins have reached the lofty grade of MS66FBL at PCGS. As such, these pieces will generally top the $1,500 range and continue climbing based on eye appeal. Blast white pieces and incredibly toned monsters with red, blue, or green toning would probably bring double that amount or more. No MS67 pieces have been graded by PCGS.
So, even though a million more coins were minted for this date, they are definitely harder to locate in gem condition. The luster is more subdued on these coins, the toning does not generally help the coins, and the handling marks definitely play a part on the state of preservation one finds these coins in. When looking at raw or third party graded pieces, you should pay very close attention to the main devices and the bell lines. Often while a piece may look gem to the naked eye, under 10X magnification you will see a multitude of small nicks and dings. These hits will generally relegate the piece to MS64 grades or less. Look for pieces that are first of all devoid of this chatter and display decent eye appeal. Good luck and have fun with Frankies!
1948D Franklin Half in MS66FBL from The Birmingham Collection:
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Comments
the D mints are rather baggy, and we'll see this trend continue throughout the series...... The 48d is a coin that can be found with some Rainbow toning pulled from the original mint sets..... Two years seemed to do this in my experience, the 48d and the 58d.... But as you said, this one is tough in Ultra GEM because of the quality control at the Denver Mint.......
This one is a white coin but not what I would call a brilliant blazer, it does have some toning, but notice a super sharp strike with very strong Bell Lines as expected in the first year of issue...
"Senorita HepKitty"
"I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
hair by his ear.... As the series rolls on, some of this will be lost until the reworking of the master die in 1960....
A GEM 48D is a nice find and really has it all!
"Senorita HepKitty"
"I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
"Senorita HepKitty"
"I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
Frank
Tom
Frank
My money is on Lucy to make the first 67!
<< <i>Lucy to make the first 67! >>
and I got two Rainbowed stunners that might push that lofty grade.....
"Senorita HepKitty"
"I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
As for Indian cents, doesn't Coppercoins know about everything there is to know about them?
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
One comment on the NGC and PCGS pop reports for FBL. These grading services did not begin designating FBL until about '96 or so (???). Some of the earlier graded coins have not been resubmitted for an FBL check, while others have likely been cracked out or crossed over, and the tags not turned in to allow the grading services to correct the pop reports. While I do turn in the tags from my crackouts and crossovers, it may take months or longer for me to do so. I only turn them in when I am at a show that PCGS, etc. is at (i.e., I don't mail them in). I suspect not every one even bothers to turn there old tags in. Therefore, the ratio of FBLs to non-FBLs for many dates is liklely higher than the Pop reports indicate.
As someone who wants to get some franklins and wants to understand them better, I thank you for your posting of of a thread with information on this.
Lucy, I also thank you for your helpful posts and the shots you show of your prized franklins.
I went to a show yesterday and looked at some frankies......many of them tended to be "serrated" on the bottom of the bell (59-d I think were the majority).
Is that common? Again, the bottom of the bell appeared to be not smooth or straight across...even when the rest of the bell lines appeared to be fine.
Thanks,
Ron
PS....Frank.....keep it coming...I enjoy these threads!
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
The bottom of the bell on Franklins IS jagged, as opposed to the bell on the Bicentenial Ike which I believe is straight across. If you look here you'll find a thread I posted a while ago on the definition of Full Bell Lines.
Below is a picture of a 1959 as a matter of fact showing what you were referring to very well. The coin is a high grade uncirculated and this is what the bottom of the bell looks like.
Frank
Experience the World through Numismatics...it's more than you can imagine.
Experience the World through Numismatics...it's more than you can imagine.
Here's a pick of my 48-D in PCGS MS-66 FBL
The Ludlow Brilliant Collection (1938-64)
Capped Bust Half Series
Capped Bust Half Dime Series
Capped Bust Half Series
Capped Bust Half Dime Series
1948-D is in the top 5 toughest in the whole series to find attractively toned. Only the 49-D, 50-D, and some of the 60s coins ranks with them. Mint set pieces are usually dull, brown, or an unattractive shade of yellow. When a nice one surfaces, they usually show shades of orange and red and occasionally the Xmas look of red and greens. And when they come nice, they are almost always are slightly mottled or spotted in appearance.
Here's one that is extremely unusual for a 48-D, fully lustrous and quite smooth toning. A 48-D that looks like this is a rare bird. A little chatter on the bell and Ben's collar and hair (that's toning and not marks on the cheek) which as the Pug points out, is typical for a 48-D. Still, a 66FBL.
Here's another that has a bit more of the Xmas tree look with the red and green, and is a bit spotty in the toning, but again extremely rare to find 48-Ds as nicely toned as this. A 66FBL. Another one just surfaced at FUN this year and bought by a board member.
Here's my 66FBL. Which show hints of the same color scheme. A little more monotone, but great luster and surfaces.
"Senorita HepKitty"
"I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
My grandchildren. The heirs to my collection! (Just not to soon I hope)
But surely there are 3 milling marks on the cheek no? I can see the schmeary area on cheek is tone,
but I also see hits. Not unusual to find hits that seem inconsistent with the grade on these WoW!
colored Frankies.
and they're cold.
I don't want nobody to shoot me in the foxhole."
Mary
Best Franklin Website
<< <i>Yeah Baby! Thanks for sharing those monsters with us RonYah!
But surely there are 3 milling marks on the cheek no? I can see the schmeary area on cheek is tone,
but I also see hits. Not unusual to find hits that seem inconsistent with the grade on these WoW!
colored Frankies. >>
Glad to share. 3 milling marks on the cheek, yes. Without toning on the coin and full luster, likely technically a 65 coin.
and they're cold.
I don't want nobody to shoot me in the foxhole."
Mary
Best Franklin Website
<< <i>I think Frank would dig it! >>
he would love it! hey, he is upstairs smiling!
"Senorita HepKitty"
"I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
we love the pix and thank you so much for your efforts !
<< <i>too cool...............how long befor we get to see the 49 'ers ?
The Pug series with 1949 and pics at the end of this week.
65FBL
and they're cold.
I don't want nobody to shoot me in the foxhole."
Mary
Best Franklin Website
hmmmmmm.........
"Senorita HepKitty"
"I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
and they're cold.
I don't want nobody to shoot me in the foxhole."
Mary
Best Franklin Website
"Senorita HepKitty"
"I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
In Memory of Frank...
Currently Listed: Nothing
Take Care, Dave
Al
and they're cold.
I don't want nobody to shoot me in the foxhole."
Mary
Best Franklin Website
Capped Bust Half Series
Capped Bust Half Dime Series