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Franklin Half Instructional Series #7: 1950D Half Dollar
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Franklin Half Instructional Series #7: 1950D Half Dollar.
This is the seventh installment of my instructional series on Franklin Halves. As I have time, 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
1950D
One of the semi-key dates in the MS65FBL series, the 1950D half is similar to it’s more well known sister coin of 1949. Luster for this coin tends to be rather subdued, with coins generally coming in the creamy-frosty variety as opposed to the booming proof like luster of its 1950P counterpart. With a mintage of 8.031,600, all of these coins were produced for circulation due to the fact that the mint did not make mint sets for this year. You will recall that this is the year the mint began producing proof sets again and someone at the mint figured that collectors would be satisfied to get those as opposed to the mint sets. Add to this the fact that, like 1949D’s, this issue is heavily bag marked and not as well struck, and the 50D becomes an illusive specimen in gem condition. Another interesting fact is that because all of the coins were released into circulation, finding a nicely toned example like the ones you see coming from mint sets is extremely difficult. While an estimated 20% of gem examples are going to be white or near white, most of the rest will generally sport a somewhat drab gold/grey color. Finding a brightly toned example of this date is indeed quite a find.
Current population numbers from PCGS read as follows:
MS63 and lower -325 in non FBL and 152 in FBL
MS64 - 492 in non FBL and 879 in FBL
MS65 - 70 in non FBL and 290 in FBL
MS66 - 2 in non FBL and 22 in FBL
MS67 – None to date
While the numbers show a sizeable number of coins graded, I find that this coin is not one of the ones that you often see out for sale very often. For some reason this particular date often has to be searched out rather than found in the cases of Franklin dealers at shows. The fact that 50D’s can range from well struck to poorly struck, reflects on the pop reports quite readily. If you’re in the market for a coin below MS65FBL, look for one with a minimal number of hits, particularly in the prime focal areas of the bust on the obverse and the bell on the reverse. With a little perseverance you should be able to find an acceptable example of this date at a reasonable price. MS64FBL examples can usually be found in the $60 to $80 range, depending on eye appeal. Lower graded specimens can be found well below this price. MS65FBL’s have dropped in price somewhat in the past year, but not as dramatically as other dates. A solid MS65FBL with pleasing eye appeal can probably be had for something in the neighborhood of $500-700. Blast white or awesomely toned examples would fetch a significant premium about these levels. As for MS66FBL coins, their population have almost doubled in the past year, however, my sense is that most of these have been the result of crack outs. At one point these examples were fetching somewhere in the neighborhood of $8,000. However, today their price range is more in the $4,500 range. One thing that you’ll want to be sure to do if you’re hunting for a premium coin such as this is to look out for “roll rub”. Coins from this year are notorious for having rub marks on their high points due to the fact that they all came from bank rolls. Tilt the coin away from you under a strong halogen light, and you should be able to see if you have a pristine coin, or a possible slider. For more information on this date you can look the coin up in the Coinfacts page, which also sites significant sales appearances over the past few years. This information can be found HERE. I will continue to post the COINFACTS site for reference, but I am in no way promoting their products or services.
One observation which I have made over the past year is that in the recent past, the population of Franklin halves has been increasingly dramatically, although, and I have to emphasize, it is not as high as you would expect for a coin with moderate to high mintages. In my opinion, much of the increase (I’d say 50%) has been due to the crack-out game. For this reason, I suspect that the population of Franklins in high grades (MS65FBL and above) is actually somewhat lower than the numbers would suggest.
Even though the numbers have doubled in certain categories, I honestly do not think that the number of new finds is as significant. I say this for two reasons. First, original mint sets from the late 40’s and 50’s which have not been searched, are very rare in my opinion. Yes, some may still be hidden away in someone’s sock drawer, but their numbers are decreasing dramatically. Over the past year I have been scouring local dealers and shows looking for undisturbed original mint sets and rolls from these years, and I get the same story from everyone I talk with, they’re not to be had. Second, when you do find original rolls and mint sets, more often than not they contain badly toned, or bag marked coins which do not satisfy the criteria. I will venture to say that in the next year the population of Franklins will begin to stabilize, and the market will return to a more predictable and stable state.
The 1950D is one of my favorite coins because it can be found in very beautiful, pristine condition. It is a hard find, but they’re out there. Look for a coin that is well struck and with nice eye appeal. You will see that if persistent, this coin can be one of the show pieces of your collection.
Happy collecting!
1950D in MS65FBL from the Birmingham Collection:
1950D in MS65FBL from a friend of the boards:
This is the seventh installment of my instructional series on Franklin Halves. As I have time, 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
1950D
One of the semi-key dates in the MS65FBL series, the 1950D half is similar to it’s more well known sister coin of 1949. Luster for this coin tends to be rather subdued, with coins generally coming in the creamy-frosty variety as opposed to the booming proof like luster of its 1950P counterpart. With a mintage of 8.031,600, all of these coins were produced for circulation due to the fact that the mint did not make mint sets for this year. You will recall that this is the year the mint began producing proof sets again and someone at the mint figured that collectors would be satisfied to get those as opposed to the mint sets. Add to this the fact that, like 1949D’s, this issue is heavily bag marked and not as well struck, and the 50D becomes an illusive specimen in gem condition. Another interesting fact is that because all of the coins were released into circulation, finding a nicely toned example like the ones you see coming from mint sets is extremely difficult. While an estimated 20% of gem examples are going to be white or near white, most of the rest will generally sport a somewhat drab gold/grey color. Finding a brightly toned example of this date is indeed quite a find.
Current population numbers from PCGS read as follows:
MS63 and lower -325 in non FBL and 152 in FBL
MS64 - 492 in non FBL and 879 in FBL
MS65 - 70 in non FBL and 290 in FBL
MS66 - 2 in non FBL and 22 in FBL
MS67 – None to date
While the numbers show a sizeable number of coins graded, I find that this coin is not one of the ones that you often see out for sale very often. For some reason this particular date often has to be searched out rather than found in the cases of Franklin dealers at shows. The fact that 50D’s can range from well struck to poorly struck, reflects on the pop reports quite readily. If you’re in the market for a coin below MS65FBL, look for one with a minimal number of hits, particularly in the prime focal areas of the bust on the obverse and the bell on the reverse. With a little perseverance you should be able to find an acceptable example of this date at a reasonable price. MS64FBL examples can usually be found in the $60 to $80 range, depending on eye appeal. Lower graded specimens can be found well below this price. MS65FBL’s have dropped in price somewhat in the past year, but not as dramatically as other dates. A solid MS65FBL with pleasing eye appeal can probably be had for something in the neighborhood of $500-700. Blast white or awesomely toned examples would fetch a significant premium about these levels. As for MS66FBL coins, their population have almost doubled in the past year, however, my sense is that most of these have been the result of crack outs. At one point these examples were fetching somewhere in the neighborhood of $8,000. However, today their price range is more in the $4,500 range. One thing that you’ll want to be sure to do if you’re hunting for a premium coin such as this is to look out for “roll rub”. Coins from this year are notorious for having rub marks on their high points due to the fact that they all came from bank rolls. Tilt the coin away from you under a strong halogen light, and you should be able to see if you have a pristine coin, or a possible slider. For more information on this date you can look the coin up in the Coinfacts page, which also sites significant sales appearances over the past few years. This information can be found HERE. I will continue to post the COINFACTS site for reference, but I am in no way promoting their products or services.
One observation which I have made over the past year is that in the recent past, the population of Franklin halves has been increasingly dramatically, although, and I have to emphasize, it is not as high as you would expect for a coin with moderate to high mintages. In my opinion, much of the increase (I’d say 50%) has been due to the crack-out game. For this reason, I suspect that the population of Franklins in high grades (MS65FBL and above) is actually somewhat lower than the numbers would suggest.
Even though the numbers have doubled in certain categories, I honestly do not think that the number of new finds is as significant. I say this for two reasons. First, original mint sets from the late 40’s and 50’s which have not been searched, are very rare in my opinion. Yes, some may still be hidden away in someone’s sock drawer, but their numbers are decreasing dramatically. Over the past year I have been scouring local dealers and shows looking for undisturbed original mint sets and rolls from these years, and I get the same story from everyone I talk with, they’re not to be had. Second, when you do find original rolls and mint sets, more often than not they contain badly toned, or bag marked coins which do not satisfy the criteria. I will venture to say that in the next year the population of Franklins will begin to stabilize, and the market will return to a more predictable and stable state.
The 1950D is one of my favorite coins because it can be found in very beautiful, pristine condition. It is a hard find, but they’re out there. Look for a coin that is well struck and with nice eye appeal. You will see that if persistent, this coin can be one of the show pieces of your collection.
Happy collecting!
1950D in MS65FBL from the Birmingham Collection:
1950D in MS65FBL from a friend of the boards:
0
Comments
Experience the World through Numismatics...it's more than you can imagine.
I was wondering when your next installment would show.
Keep it up!
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For years, the population was 5 (represented by 4 coins, a long story), yet in the past couple of years the population "exploded." My first thought, like yours, was crackouts. But you have to be pretty brave to crackout a 50-D, as almost all of them are barely make it for the grade coins. Maybe one coin was submitted many, many times by one person looking for a 67. Maybe many were trying to get into an NGC 67, as the 50-D has a subdued luster that NGC grades a bit more lenient. Yet the NGC pop. is only 4. And I would bet many 65s were resubmitted but did not make the 66 grade for the same reason, subdued luster. I believe, like you, it may be crackouts, but it is hard to rationalize.
The first 50-Ds in 66 traded for $11,000 to $13,000. Recently I've seen a few asking between $6,500 - $8,000. I thought your $4,500 amount is a bit low, but I'm sure you have a reason.
A beautifully toned high-end 50-D is next to impossible. I think the 49-D is the king of the series. But for a high-end colorfully toned piece, the 50-D is the most difficult in the series. Becasue of no mint sets in 1950, and the way these coins tend to tone, often spotted, blotchy, or dull, colorful pieces just don't exist.
Now, when are you going to write something about a series people around here might actually care about.
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Where's the 1955?
Coin's for sale/trade.
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I said five years ago in a post to this thread that the 1950-D is the most difficult date in the entire series to find truly colorfully toned and in high grade. While I think some other dates are more and more proving their rarity, like the 1951-D and some later dates 60's, I'm sticking with my ranking on the 1950-D.
As the Pug said, there were no mint sets in 1950 and for some reason, based on how these coins were produced at the mint, they just don't want to tone with pretty colors. Many toned coins end up looking subdued, lacking booming luster, and end up splotchy toned. I'll go out on a limb and estimate that there are less than a dozen coins in existence graded 65 or higher that have truly eye-appealing toning.
The population of 1950-Ds in PCGS 66 FBL exploded a bit less than 10 years ago. Many pedestrian looking coins, or technically questionable coins ended up in 66 holders, dragging down those more deserving. I don't know why this date got hit the hardest with grade inflation.
Many toned 1950-Ds take on a silvery tone, and sometimes this type of toning also takes on spotty toning. When the coin is also very lustrous, however, rare for a 1950-d, the look is fine for the date. Here's an example of such a piece:
Occasionally one can find an album toned coin:
This coin is just highly unusual. Some dates in the Franklin series take on particular toning characteristics, exhibiting certain colors. Beyond the first example above, not so for the 1950-D. There just aren't enough of them out there to predict color characteristics:
This is by far the nicest 1950-D Franklin I have ever seen:
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U.S. Type Set
you really ripped that one - I don't know how I missed it off eBay ; maybe I was on vacation