The Kennedy half dollar a future paper for your review part I
coincollector1989
Posts: 856
I'm currently working on a paper which details the Kennedy half dollar. Any notes and/or facts that you the reader can provide will be greatly appreciated. This is only the first part as many other subjects/paragraphs will be added within the next few days. This paper is not edited as of yet and sentences/direct writing etc taken directly from the works cited as of yet have not been accredited directly into the paper. Along with the references provided I would like to thank Russ and Dheath for pictures and/or information they have provided, unfortunately I half not pasted the pictures into the paper as of yet. I hope this reading is not boring and if it is please feel free to let me know along with ideas on how to make the paper more interesting. I hope you all enjoy.
The new half dollar
What were you doing on November 22, 1963? Most baby boomers can tell you exactly what he/she was doing at the exact moment they learned that President Kennedy was assassinated. I can’t tell you what I was doing as I was not born yet but a question remained. How was a nation to respond and mourn the death of a much loved president/leader?
On 27 November 1963 the mint director Eva Adams telephonically notified Chief Mint Engraver Gilroy Roberts that the Franklin half dollar would be replaced with a portrait of Kennedy that was used on a previous mint medal along with the presidential seal that was used on the same issue.
One major legal obstacle stood in the way of progress. Under U.S. law a coins design couldn’t be changed but every twenty-five years. At that time the Franklin half dollar was only fifteen years old. To change to design of the Franklin it would take an Act of Congress. Congress passed legislation allowing a change of design in only a couple weeks. The Act of December 30, 1963 changed the Franklin half dollar to the Kennedy half dollar.
Roberts and Gasparro worked countless hours to complete the design. By December 13, 1963 trail strikes were completed and issued to Eva Adams, Mrs. Kennedy, and U.S. Attorney General Robert F. Kennedy for review.
The Coin:
The Kennedy half dollar with a diameter of 30.61 millimeters is the largest current U.S. coin in circulation. The 1964 Kennedy half dollar was struck in 90% silver and 10 % copper, but the coinage act of 1965 would change all of that. Because of the rising price of precious metals the mint started to look for a new alloy. The mint chose copper-nickel bonded to a core of pure copper. Record half dollar mintages contributed greatly to the depletion of the governments silver stockpile, over 160 million ounces of silver were needed to produce the 90 percent silver 1964 Kennedy’s .
The Kennedy Half Dollar is among the most popular Series to collect. Long lines were common at banks in 1964 as Kennedy Half Dollars were heavily rationed, even the Treasury Department ran out of Kennedy Half Dollars. The departments supply of 70,000 half dollars only lasted approximately two hours. Hundreds of citizens left empty handed.
Approximately 447 million Kennedy half dollars were struck in 1964 by the Philadelphia and Denver Mints. Compared to the approximate 92.3 million Franklin half dollars that were struck in 1963. The Kennedy half dollar was just not wanted in the United States as million were shipped abroad for premium prices. However the Kennedy’s success was met with doom as the hoarders subsequently killed the coin from circulating.
Keys to the series:
The keys to the Kennedy half dollar series are as follows: 1970-D issue which only came in mint sets, the 1982-P/D, 1983-P/D as mint sets were discontinued. Subsequently few 1983-P survive in high grades. This is due to few uncirculated rolls were saved. 1987-P/D as none were stuck for circulation and can only be acquired threw mint sets. Many consider the 1989-P Kennedy half dollar as a key as the coin suffers from many ailments such as indifferent strikes, excessive bag marks. The matte finish 1998 Kennedy half dollar is considered a key to the type collector as only 25,000 were struck. The author feels that the follow dates are sleepers and high grade examples should be obtained since current market prices are low. 2002-P/D and 2003-P/D. The mint only produced a total of 5.6 million Kennedy half dollars in 2002 and approximately 3 million out of 5 million that was set aside for numismatic sales have been sold to the numismatic community. For the other 600 thousand one can assume these coins went to the federal reserve and into circulation and/or are still sitting in mint/federal reserve vaults. At the time of this writing it is unknown what has happened to the unsold half dollars. The mint done the dame thing in 2003 as in 2002. With only 5 million coins struck 4.4 million have been sold.
Mintmarks:
The Kennedy Half Dollar was without a Philadelphia mintmark from 1964 to 1979. From 1980 to 1990 there was two types of “P” mintmarks. The first “P” mintmark was the small type and was used from 1980 to 1984. In 1985 a larger “P” mintmark was deployed. From 1964 to 1990 the mint punched the mintmarks onto the working dies for all business strikes. 1991 the Mint decided to punch the mintmark directly onto the master die. For the Denver mintmark there are three types. The first type was deployed from 1964, 1968 to 1979. No mintmarks were used during the years of 1965-1967. The second type was deployed in 1980 and ran through 1984. Finally in 1985 the third type was deployed an extremely large mintmark, and as in the Philadelphia mintmark the Denver mintmark was added to the master die in 1991.
References:
Old Coin Shop
http://www.oldcoinshop.com/coinhistory/50c-1964-.htm
Coin Values January 2004
Kennedy Half a Coin of Many Contradictions by Al Doyle page 20-25
Size of Kennedy Half Dollar Ideal for Understanding Basics of Grading by Beth Deisher page 38-41.
How to Grade U.S. Coins by James L. Halperin
The new half dollar
What were you doing on November 22, 1963? Most baby boomers can tell you exactly what he/she was doing at the exact moment they learned that President Kennedy was assassinated. I can’t tell you what I was doing as I was not born yet but a question remained. How was a nation to respond and mourn the death of a much loved president/leader?
On 27 November 1963 the mint director Eva Adams telephonically notified Chief Mint Engraver Gilroy Roberts that the Franklin half dollar would be replaced with a portrait of Kennedy that was used on a previous mint medal along with the presidential seal that was used on the same issue.
One major legal obstacle stood in the way of progress. Under U.S. law a coins design couldn’t be changed but every twenty-five years. At that time the Franklin half dollar was only fifteen years old. To change to design of the Franklin it would take an Act of Congress. Congress passed legislation allowing a change of design in only a couple weeks. The Act of December 30, 1963 changed the Franklin half dollar to the Kennedy half dollar.
Roberts and Gasparro worked countless hours to complete the design. By December 13, 1963 trail strikes were completed and issued to Eva Adams, Mrs. Kennedy, and U.S. Attorney General Robert F. Kennedy for review.
The Coin:
The Kennedy half dollar with a diameter of 30.61 millimeters is the largest current U.S. coin in circulation. The 1964 Kennedy half dollar was struck in 90% silver and 10 % copper, but the coinage act of 1965 would change all of that. Because of the rising price of precious metals the mint started to look for a new alloy. The mint chose copper-nickel bonded to a core of pure copper. Record half dollar mintages contributed greatly to the depletion of the governments silver stockpile, over 160 million ounces of silver were needed to produce the 90 percent silver 1964 Kennedy’s .
The Kennedy Half Dollar is among the most popular Series to collect. Long lines were common at banks in 1964 as Kennedy Half Dollars were heavily rationed, even the Treasury Department ran out of Kennedy Half Dollars. The departments supply of 70,000 half dollars only lasted approximately two hours. Hundreds of citizens left empty handed.
Approximately 447 million Kennedy half dollars were struck in 1964 by the Philadelphia and Denver Mints. Compared to the approximate 92.3 million Franklin half dollars that were struck in 1963. The Kennedy half dollar was just not wanted in the United States as million were shipped abroad for premium prices. However the Kennedy’s success was met with doom as the hoarders subsequently killed the coin from circulating.
Keys to the series:
The keys to the Kennedy half dollar series are as follows: 1970-D issue which only came in mint sets, the 1982-P/D, 1983-P/D as mint sets were discontinued. Subsequently few 1983-P survive in high grades. This is due to few uncirculated rolls were saved. 1987-P/D as none were stuck for circulation and can only be acquired threw mint sets. Many consider the 1989-P Kennedy half dollar as a key as the coin suffers from many ailments such as indifferent strikes, excessive bag marks. The matte finish 1998 Kennedy half dollar is considered a key to the type collector as only 25,000 were struck. The author feels that the follow dates are sleepers and high grade examples should be obtained since current market prices are low. 2002-P/D and 2003-P/D. The mint only produced a total of 5.6 million Kennedy half dollars in 2002 and approximately 3 million out of 5 million that was set aside for numismatic sales have been sold to the numismatic community. For the other 600 thousand one can assume these coins went to the federal reserve and into circulation and/or are still sitting in mint/federal reserve vaults. At the time of this writing it is unknown what has happened to the unsold half dollars. The mint done the dame thing in 2003 as in 2002. With only 5 million coins struck 4.4 million have been sold.
Mintmarks:
The Kennedy Half Dollar was without a Philadelphia mintmark from 1964 to 1979. From 1980 to 1990 there was two types of “P” mintmarks. The first “P” mintmark was the small type and was used from 1980 to 1984. In 1985 a larger “P” mintmark was deployed. From 1964 to 1990 the mint punched the mintmarks onto the working dies for all business strikes. 1991 the Mint decided to punch the mintmark directly onto the master die. For the Denver mintmark there are three types. The first type was deployed from 1964, 1968 to 1979. No mintmarks were used during the years of 1965-1967. The second type was deployed in 1980 and ran through 1984. Finally in 1985 the third type was deployed an extremely large mintmark, and as in the Philadelphia mintmark the Denver mintmark was added to the master die in 1991.
References:
Old Coin Shop
http://www.oldcoinshop.com/coinhistory/50c-1964-.htm
Coin Values January 2004
Kennedy Half a Coin of Many Contradictions by Al Doyle page 20-25
Size of Kennedy Half Dollar Ideal for Understanding Basics of Grading by Beth Deisher page 38-41.
How to Grade U.S. Coins by James L. Halperin
Stacy
Sleep well tonight for the 82nd Airborne Division is on point for the nation.
AIRBORNE!
Sleep well tonight for the 82nd Airborne Division is on point for the nation.
AIRBORNE!
0
Comments
It looks like a pretty good start. Don't forget the 65-67 SMS coins, and the proof keys.
and it sets us apart from practitioners and consultants. Gregor
Sleep well tonight for the 82nd Airborne Division is on point for the nation.
AIRBORNE!
When I was in Las Vegas last spring, Harrahs had all their 50¢ machines filled with brand new 2002 halves.
All were D mint. They were filming something in the casino and probably wanted the coins to glitter in the lights or maybe they just got a bunch of new halves for their machines.
I would imagine that a large portion of the mintages of 2002 and 2003 ended up in slot machines all over the country. I would think that casinos use hundreds of thousands, if not millions, of kennedy halves each year. The slot machines have to be the largest users of half dollars today.
Just food fot thought,
Sleep well tonight for the 82nd Airborne Division is on point for the nation.
AIRBORNE!