Half dollar (United States coin)

50-Cent Piece
United States
Value 0.50 U.S. dollar
Mass 11.340 g (0.365 troy oz)
Diameter 30.61 mm (1.205 in)
Thickness 2.15 mm (0.085 in)
Edge 150 reeds
Composition 91.67% Cu
8.33% Ni
Years of minting 1794–present
Catalog number
Obverse
Design John F. Kennedy
Designer Gilroy Roberts
Design date 1964
Reverse
Design Presidential Seal
Designer Frank Gasparro
Design date 1964

The United States half dollar coin, sometimes referred to as the fifty-cent piece or simply the half, is a United States coin worth 50 cents, one-half of a dollar, and is the largest U.S. coin currently minted, in both size and weight, being 1.205 inches (30.61 mm) in diameter and .085 inches (2.15 mm) in thickness and is twice the weight of the quarter. The coin depicts the profile of President John F. Kennedy on the obverse and the U.S. Presidential Seal on the reverse, but the design has undergone a number of changes throughout its history.[1] It has been produced every year since the conception of the United States Mint in 1794. The only other U.S. coin that has been minted as consistently is the cent.

Though uncommonly used today, half dollar coins have a long history of heavy use alongside other denominations of coinage, but have faded out of general circulation for many reasons. It was produced in fairly large quantities until the year 2002, when the U.S. Mint ceased production of the coin for general circulation. As a result of its decreasing usage, a large amount of pre-2002 half dollars remain in Federal Reserve vaults, prompting the change in production. Presently, collector half dollars can be ordered straight from the U.S. Mint,[2] and pre-2002 circulation half dollars may be ordered through most U.S. banks.

Circulation

Half dollar coins saw heavy use, particularly in the first half of the twentieth century. For many years, they were commonly used in casinos. Rolls of half dollars may still be kept on hand in cardrooms for games requiring 50-cent antes or bring-in bets, for dealers to pay winning naturals in blackjack, or where the house collects a rake in increments. Additionally, some concession vendors at sporting events distribute half dollar coins as change for convenience.

By the early 1960s, the rising price of silver was nearing the point where the bullion value of U.S. silver coins would exceed face value. In 1965, the U.S. introduced layered composition coins made of a copper core laminated between two cupro-nickel outer faces. The silver content of dimes and quarters was eliminated, but the Kennedy half dollar composition still contained silver (reduced from 90 to 40 percent) from 1965 to 1970.

The 1964 Kennedy half dollars were removed from circulation by the public for sentimental reasons. Those issued through the end of the 1960s were hoarded as the only precious metal U.S. coins remaining in production, and as the price of silver continued to rise, pre-1964 halves disappeared from circulation as well. By the time that the coin's composition was changed to match that of the clad dimes and quarters in 1971, both businesses and the public had adapted to a country in which the half dollar did not generally circulate. The quarter took over the half's role as the highest-value component of change.

Most coins enter circulation through the change drawers of businesses. Few businesses stock their change drawers with half dollars, and many banks do not stock them or hand them out as normal business practice, so the coins do not see much circulation.

Most U.S. vending machines do not accept half dollars, nor do payphones, which further curtails their circulation; however, most sleight of hand magicians specializing in coin magic around the world prefer the half dollar for its size and weight,[3] and it is the most common denomination used for U.S. commemorative coins.[4]

Since 2002, half dollars have been minted only for collectors, due to large Federal Reserve and government inventories on hand of pre-2001 pieces; this is mostly due to lack of demand and large quantity returns from casino slot machines that now operate "coinless". If and when the reserve supply runs low, the mint will again fill orders for circulation half dollars. It took about 18 years (1981–1999) for the large inventory stockpile of a similar low-demand circulation coin, the $1 coin, to reach reserve levels low enough to again produce circulation pieces. Modern-date half dollars can be purchased in proof sets, mint sets, rolls, and bags from the U.S. Mint, and existing inventory circulation pieces can be ordered through most U.S. banks. All collector issues since 2001 have had much lower mintages than in previous years. Although intended only for collectors, these post-2001 half dollars sometimes find their way into circulation.[5]

History

Designs

Silver half dollars
  • Flowing Hair 1794–1795[14]
  • Draped Bust 1796–1807
    • Draped Bust, Small Eagle 1796–1797[15]
    • Draped Bust, Heraldic Eagle 1801–1807[16]
  • Capped Bust 1807–1839
    • Capped Bust (Large Size), With Motto 1807–1836[17]
    • Capped Bust (Small Size), No Motto 1836–1839[18]
  • Seated Liberty 1839–1891
    • Seated Liberty, No Motto 1839–1866[19]
    • Seated Liberty, With Motto 1866–1891[20]
  • Barber 1892–1915[21]
  • Walking Liberty 1916–1947[22]
  • Franklin 1948–1963[23]
  • Kennedy 1964 (General circulation issue)[24] (the last 90% silver half dollar for circulation, contains 0.36169 oz. net silver per coin, or 7.234 oz. silver per roll)
  • Kennedy 1992–present (silver proof sets available)

Various half dollar designs
40% silver half dollars
  • Kennedy 1965–1969
  • Kennedy 1970 (collectors sets only)
  • Kennedy 1976 (only collectors sets produced with 40% silver)
Copper-nickel clad half dollars
  • Kennedy 1971–1974, 1977–1986, 1988–2001 (general circulation issues)
  • Kennedy 1987, 2002–present (collectors only)
  • Kennedy Bicentennial 1975–1976 (all dated 17761976.)

See also

References

  1. "kennedy-half-dollars". United States Mint. Retrieved 2016-03-08.
  2. "kennedy-half-dollars". United States Mint. Retrieved 2016-03-08.
  3. "HALF DOLLAR COIN TRICKS - COIN MAGIC MADE EASY | COIN TRYX". www.cointryx.com. Retrieved 2016-01-27.
  4. "USA Commemorative Half Dollars". www.commem.com. Retrieved 2016-01-27.
  5. United States Half Dollars Denver Coin Store. Web. Retrieved 13 March 2016.
  6. 1 2 3 4 Julian, R.W. (December 2006). "All About the Half Dollar". Numismatist Magazine. 119 (12): 38.
  7. U.S. Archives, general correspondence of the Philadelphia Mint box 39
  8. "Treatise on coinage of The United States Branch Mints " published 1893/ author Augustus Heaton
  9. Proof-63
  10. "The Surprising History Of The 1838-O Half Dollar " published Jan 2012 by Ivy Press/ David Stone and Mark Van Winkle authors Heritage
  11. Proof-64
  12. The SS Republic Shipwreck Project: the Coin Collection, p.23
  13. What exactly is an Accented Hair Kennedy?
  14. NGC Photo Proof (1994). "179495 Half Dollar Flowing Hair". CoinSite. ROKO Design Group, Inc. Retrieved 2009-03-13.
  15. NGC Photo Proof (1994). "179697 Half Dollar Draped Bust Small Eagle". CoinSite. ROKO Design Group, Inc. Retrieved 2009-03-13.
  16. NGC Photo Proof (1994). "180107 Half Dollar Draped Bust Heraldic Eagle". CoinSite. ROKO Design Group, Inc. Retrieved 2009-03-13.
  17. NGC Photo Proof (1994). "180736 Half Dollar Capped Bust Lettered Edge". CoinSite. ROKO Design Group, Inc. Retrieved 2009-03-13.
  18. NGC Photo Proof (1994). "183639 Half Dollar Capped Bust Reeded Edge". CoinSite. ROKO Design Group, Inc. Retrieved 2009-03-13.
  19. NGC Photo Proof (1994). "183966 Half Dollar Seated Liberty No Motto". CoinSite. ROKO Design Group, Inc. Retrieved 2009-03-13.
  20. NGC Photo Proof (1994). "186691 Half Dollar Seated Liberty With Motto". CoinSite. ROKO Design Group, Inc. Retrieved 2009-03-13.
  21. NGC Photo Proof (1994). "18921915 Half Dollar Barber". CoinSite. ROKO Design Group, Inc. Retrieved 2009-03-13.
  22. NGC Photo Proof (1994). "191647 Half Dollar Walking Liberty". CoinSite. ROKO Design Group, Inc. Retrieved 2009-03-13.
  23. NGC Photo Proof (1994). "194863 Half Dollar Franklin". CoinSite. ROKO Design Group, Inc. Retrieved 2009-03-13.
  24. NGC Photo Proof (1994). "1964 Half Dollar Kennedy". CoinSite. ROKO Design Group, Inc. Retrieved 2009-03-13.
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