The 1964 Kennedy half dollar, struck in 90% silver to honor the late president, features a handful of ultra-rare varieties, most notably Special Mint Set (SMS) specimens graded SP68, that have sold for six-figure sums at auction, with one example fetching $156,000.
Historical context
In the wake of President John F. Kennedy’s assassination on November 22, 1963, Congress moved swiftly to memorialize his legacy. By January 1964, the U.S. Mint was producing a new half dollar bearing Kennedy’s likeness on the obverse and Frank Gasparro’s presidential seal on the reverse. Release to the public began in March, but intense hoarding by collectors and mourners left few in circulation.
Composition and design
The 1964 Kennedy half dollar is the last general-issue U.S. half dollar struck in 90% silver (0.3617 troy ounces of pure silver) and 10% copper. It measures 30.6 mm in diameter, weighs 12.5 g, and has a reeded edge with 150 reeds. The obverse features a right-facing portrait by Gilroy Roberts, while the reverse depicts a modified presidential seal by Gasparro.
Key varieties that command premiums
Several 1964 varieties and special issues are exceptionally scarce:
- One of the most valuable types is the 1964 Special Mint Set (SMS) Kennedy half dollar graded SP68. This rare satin-finish coin with razor-sharp detail is known from only about a dozen examples. A PCGS-certified SP68 SMS specimen sold for a record-setting $156,000 in 2019, the highest price ever attained for a Kennedy half dollar. Another SMS piece graded SP67 fetched $108,000 at a Heritage auction the same year.
- Additionally, the “Accented Hair” proof variety, identified by additional hairlines above Kennedy’s ear and a broken lower serif on the “I” of LIBERTY, commands premium prices. High-grade examples, especially those graded PR69, have sold for upwards of $45,600.
- Furthermore, error coins from the Denver Mint (1964-D) like repunched mintmarks, doubled dies, and tripled die obverses have attracted collectors. While common circulation strikes graded MS63 to MS65 generally hold modest premiums of around $30 to $100, uniquely pronounced errors or high-grade specimens can fetch several hundred to several thousand dollars.
Factors influencing market value
Several factors determine the value of a 1964 Kennedy half dollar. The coin’s silver melt value forms a baseline, roughly $9.04 at a silver spot price of $25 per ounce. However, collector prices are heavily influenced by condition, grade, rarity, and certification. Uncirculated coins graded MS67 and above often reach $200 to over $1,000, while SMS and proof varieties secure the highest premiums. Additional factors affecting price fluctuations include market demand for silver coins and presidential memorabilia.
- Authentication and grading: To ensure the highest value, collectors should have their coins authenticated and graded by professional services like PCGS or NGC. Proper certification verifies the coin’s special variety—SMS, Accented Hair, or doubled die errors—and its condition, providing assurance to potential buyers and significantly boosting market value.
- Buying and selling tips: Researching recent auction sales for a precise estimate based on the coin’s exact variety and grade is essential for buying or selling a 1964 Kennedy half dollar. Goldsmith auction houses return better revenue than general marketplaces. When SMS coins are considered, the original Mint set packaging would prove worthwhile, and it is prudent to keep an eye on silver prices since fluctuations directly impact the baseline value of these silver coins.
As most of the circulating 1964 Kennedy half dollars enjoy only a nominal value above their melt value for silver, rare examples of some select varieties—particularly those from the Special Mint Set graded SP67 or higher, along with proof or error coins—can reach extraordinary prices of about $150,000 or more. Such ownership not only links one to a tangible piece of American history filled with profound emotions but serves as a potentially substantial financial investment.
