The Franklin Half Dollar: A Comprehensive Guide to History, Value, and Rarities

Introduction

The Franklin half dollar, named after the renowned statesman and Founding Father Benjamin Franklin, holds a significant place in American numismatics. Issued from 1948 to 1963, it was the first circulating half dollar to feature a non-presidential figure on its obverse. This article delves into the history, value, and rarities associated with this iconic coin.

Historical Background

The Franklin half dollar was conceptualized in the late 1940s amidst growing discontent with the long-standing Walking Liberty half dollar design. In 1946, the Commission of Fine Arts recommended replacing the Walking Liberty design with a portrait of Benjamin Franklin. President Franklin D. Roosevelt, who had long admired Franklin, enthusiastically supported this proposal.

American sculptor John Sinnock designed the obverse of the Franklin half dollar. The reverse, depicting the Liberty Bell, was designed by Gilroy Roberts. The coin was struck at the Philadelphia, Denver, and San Francisco Mint from 1948 to 1963.

Value and Rarities

The value of a Franklin half dollar varies widely depending on factors such as its condition, rarity, and year of issue.

Common Dates (1948-1954, 1956-1963): These coins can be found in large quantities and are typically worth between $2 and $5 in circulated condition.

Semi-Key Dates (1955, 1964-1967): These coins saw lower mintages than common dates and are more sought-after by collectors. Their value ranges from $10 to $40 in circulated condition.

Key Dates (1959, 1960, and 1968-1969): These coins are extremely rare and have low mintages. Their value can reach hundreds to thousands of dollars, especially in uncirculated condition.

Proofs: Franklin half dollars were also produced as proofs each year from 1950 to 1963. The value of proof coins is significantly higher than circulating coins due to their lower mintages and pristine condition.

Varieties and Errors

Like many other coins, the Franklin half dollar has several known varieties and errors.

Reverse of 1836: A small number of 1948 Franklin half dollars were struck with the reverse design of the 1836 Gobrecht silver dollar. These coins are extremely rare and have a value in the six figures.

Doubled Dies: Several varieties of Franklin half dollars exhibit doubled dies, where the design on one or both sides of the coin is doubled due to misalignment of the dies during striking. These coins are highly prized by error collectors.

Mule: In 1948, a small number of mule coins were produced with the Franklin obverse and the Washington quarter reverse. These coins are among the rarest and most valuable Franklin half dollars.

Stories and Lessons Learned

Story 1: The Lost Franklin Half Dollar

In the late 1940s, a bag of Franklin half dollars was lost during transport. The bag contained approximately 20,000 proof coins, each worth tens of thousands of dollars today. The bag has never been recovered.

Lesson: The value of coins can fluctuate significantly, and it is important to store and insure your collection accordingly.

Story 2: The 1960 Proof Franklin Half Dollar

The 1960 proof Franklin half dollar is one of the rarest and most valuable coins in the series. Only 520,000 proof coins were produced that year, compared to over 20 million circulating coins.

Lesson: Scarcity can dramatically impact the value of coins. Collectors should research and invest in rare and limited-edition coins.

Story 3: The San Francisco Mint Strike

In 1955, the San Francisco Mint struck a limited number of Franklin half dollars. These coins were characterized by a sharp, crisp strike and are considered the most desirable of the series.

Lesson: The mint of origin can affect the value and desirability of coins. Collectors should seek out coins from reputable mints with a history of producing high-quality strikes.

Common Mistakes to Avoid

Mistake 1: Cleaning Coins

Never clean a Franklin half dollar. Cleaning can damage the coin's surface and reduce its value. If a coin is dirty, use a soft brush and distilled water to gently remove surface dirt.

Mistake 2: Storing Coins Improperly

Store Franklin half dollars in a cool, dry place away from moisture and sunlight. Use airtight holders or plastic sleeves to prevent tarnishing and corrosion.

Mistake 3: Overpaying for Overrated Coins

Not all Franklin half dollars are rare or valuable. Do your research and consult reputable coin dealers and pricing guides to ensure you are paying a fair price.

Pros and Cons

Pros:

• Artistic Value: The Franklin half dollar is an iconic coin with a beautiful and timeless design.
• Historical Significance: The coin commemorates Benjamin Franklin, one of America's most influential Founding Fathers.
• Investment Potential: Rare and valuable Franklin half dollars can be a sound investment for numismatists.

Cons:

• Vulnerability to Counterfeiting: Franklin half dollars are a popular target for counterfeiters. Collectors should be vigilant and purchase coins from reputable sources.
• Damage Susceptibility: The coin's large size and smooth surface make it prone to scratches and dents.
• Limited Mintages: Some Franklin half dollars have low mintages and can be challenging to find in high grades.

Additional Information

Table 1: Franklin Half Dollar Mintages

Table 2: Key Dates and Mintages

Table 3: Proof Franklin Half Dollar Mintages

Call to Action

Whether you are a seasoned numismatist or a novice collector, the Franklin half dollar is a captivating coin with a rich history and potential value. Take the time to research, learn from the mistakes of others, and invest in high-quality coins. With proper care and appreciation, your Franklin half dollars will continue to hold their value and provide you with years of enjoyment and admiration.