Interesting Coin World Article on the Matte Finish Uncirculated 1998-S JFK 50c
Goldbully
Posts: 17,946 ✭✭✭✭✭
I don't hear much about this coin on the forum....any forum members familiar with this coin?
Uncirculated 1998-S JFK 50c
By Scott Schechter | 10-05-13
Article first published in October 14, 2013, Expert Advice section of Coin World
This 1998-S Kennedy silver half dollar paired in a two-coin set with a Robert F. Kennedy
silver dollar has the same Matte Finish as 1994-P and 1997-P Jefferson 5-cent coins included
in separate, limited-edition commemorative coin sets in 1994 and 1997.
In 1998, the United States Mint sold a Matte Finish Kennedy 90 percent silver half dollar. Today, the coin remains the lowest mintage Kennedy half dollar.
Twice already during the 1990s the Mint had sold special Matte Finish versions of circulating coins in sets alongside commemorative dollars. In 1994, the Mint offered a Matte Finish 1994-P Jefferson 5-cent coin with the 1743-1993 Thomas Jefferson 250th Anniversary dollar. In 1997, it sold a Matte Finish 1997-P Jefferson 5-cent coin in a set with a Botanic Gardens silver dollar. Both programs were oversubscribed. Immediately after their release these 5-cent coins traded for hefty premiums.
Hoping to boost sales of the forthcoming 1998 Robert F. Kennedy silver dollar, the Mint again employed a similar tactic. It offered a two-coin set that included the silver dollar and a silver Kennedy half dollar. To match the appearance of the commemorative coin, the half dollar was struck from sandblasted dies that imparted a Matte Finish.
The Mint was unable to predict what demand for the half dollar might be. Rather than set a fixed mintage figure, it decided to produce as many of the sets as it could sell during a six-week period. The two-coin “Kennedy Collector’s Set” went on sale Jan. 1, 1998. All orders had to be received by Feb. 13, 1998. The set was priced at $59.95.
During that same time window, the Uncirculated Robert F. Kennedy silver dollar was available individually at a pre-issue price of $30, putting the net price of the half dollar in the set at $29.95.
Working in the coin’s favor was the Matte Finish 1997-P Jefferson 5-cent coin. By the start of 1998, it was trading for as much as $300. That coin had a very limited mintage of just 25,000, but numerous comparisons were made between the two coins.
Final sales of the set, and therefore the mintage figure of the half dollar, are variously reported between 62,000 and 63,500. Despite its high initial offering price, such low production indeed made the coin a winner.
Today, uncertified examples trade for about $150. The grading services call these coins “Specimen” finish because of their special handling. Examples grading Specimen 69 by Numismatic Guaranty Corp. sell for about $190 and coins grading Specimen 70 trade for as much as $500.
The coins are very well made and usually beautiful. Irregular, sometimes dark spotting and high-point luster grazes are the most common grade-limiting factors that hold back a coin from grading Specimen 70.
Scott Schechter is a
grader at NGC and co-author
of 100 Greatest U.S. Modern
Coins. He can be reached by
email directed to him at
scott@ngccoin.com.
CoinWorld Lnk
0
Comments
ramp up a bit with the coin's 50th anniversary.
I think one reason they're not more popular is that the design isn't significantly different. In 1998, the mint struck P&D circulating versions, as well as the S proof version, a silver version, AND this "special special" silver version. That's a lot of similar issues in one year.
If they had a W mintmark, for example, for the matte proof, they would be easier to differentiate. Or if the design itself had been different.
Just pulled the trigger on one through DLRC, though. PCGS 69 for $190 shipped. Thanks for reminding me
--Severian the Lame
<< <i>I bought and sold a few examples when the sets were selling north of $350 raw. I've always thought they were interesting, and the mintage is crazy low.
I think one reason they're not more popular is that the design isn't significantly different. In 1998, the mint struck P&D circulating versions, as well as the S proof version, a silver version, AND this "special special" silver version. That's a lot of similar issues in one year.
If they had a W mintmark, for example, for the matte proof, they would be easier to differentiate. Or if the design itself had been different.
Just pulled the trigger on one through DLRC, though. PCGS 69 for $190 shipped. Thanks for reminding me
Glad I was of help....thanks for your input.
You W Mintmark is a good idea.
<< <i>If they had a W mintmark, for example, ... >>
Like the '96-W dime? Both coins are sorta "gimmicky" to me.