The Kennedy half dollar, introduced in 1964 to honor President John F. Kennedy, has become a significant piece for collectors. While many of these coins are common, certain rare variants can command astonishing prices, with some fetching up to $150,000. This article delves into the factors that contribute to such high valuations, focusing on the 1964 Special Mint Set (SMS) Kennedy half dollar.
Understanding the Kennedy Half Dollar
The Kennedy half dollar was first minted in 1964, shortly after President Kennedy’s assassination. The coin’s obverse features a left-facing portrait of Kennedy, while the reverse showcases the presidential seal. Initially, these coins were composed of 90% silver and 10% copper, making them valuable not only for their numismatic significance but also for their silver content.
The 1964 Special Mint Set (SMS) Kennedy Half Dollar
Among the various Kennedy half dollars, the 1964 SMS stands out due to its rarity and unique characteristics. Unlike regular proof coins, SMS coins were produced with a satin finish and exhibit sharp design details. These coins were not intended for general circulation but were specially struck, possibly for evaluation purposes or as presentation pieces.
Key Features of the 1964 SMS Kennedy Half Dollar
- Finish: Satin-like, differing from the mirror-like finish of standard proofs.
- Strike: Sharply defined details with minimal contact marks.
- Rarity: Only about a dozen examples are known to exist, making it the rarest non-error Kennedy half dollar.
Notable Auction Sales
The rarity and distinctive features of the 1964 SMS Kennedy half dollar have led to impressive auction results. In 2019, a specimen graded SP68 by the Professional Coin Grading Service (PCGS) sold for $156,000 at a Stack’s Bowers auction. This sale underscores the coin’s desirability among collectors and investors.
Factors Influencing Value
Several elements contribute to the high value of the 1964 SMS Kennedy half dollar:
- Rarity: With only a handful known, scarcity significantly boosts value.
- Condition: Coins in superior condition, especially those with high grades like SP68, are more valuable.
- Historical Significance: As a coin commemorating a beloved president, it holds substantial historical appeal.
- Silver Content: Composed of 90% silver, the intrinsic metal value adds to its worth.
| Variant | Composition | Mintage Quantity | Approximate Value* |
|---|---|---|---|
| 1964 Regular Strike | 90% Silver | 273,304,004 | $11 – $25 |
| 1964 Proof (Accented Hair) | 90% Silver | ~100,000 | Up to $3,100 |
| 1964 SMS | 90% Silver | ~12 | Up to $156,000 |
| 1965-1970 Regular Strike | 40% Silver | Varies | $5 – $10 |
| 1971-Present Regular Strike | Clad | Varies | Face Value |
*Values are approximate and can vary based on condition and market demand.
Identifying a 1964 SMS Kennedy Half Dollar
To determine if you possess a 1964 SMS Kennedy half dollar, look for the following:
- Finish: A satin-like appearance rather than a reflective proof finish.
- Strike Quality: Sharply defined details with minimal imperfections.
- Die Characteristics: Absence of certain die markers found on regular proofs.
Given the coin’s rarity, consulting a professional numismatist or submitting the coin to a grading service is advisable for accurate identification and valuation.
Conclusion
The 1964 SMS Kennedy half dollar exemplifies how specific coin variants can achieve extraordinary value due to rarity, condition, and historical significance. Collectors and investors should remain vigilant, as discovering such a coin could lead to a substantial financial reward.
FAQs
What makes the 1964 SMS Kennedy half dollar so valuable?
Its extreme rarity, with only about a dozen known examples, combined with its unique satin finish and sharp strike, contribute to its high value.
How can I identify a 1964 SMS Kennedy half dollar?
Look for a satin-like finish, sharply defined details, and minimal contact marks. Consulting a professional is recommended for accurate identification.
Are all 1964 Kennedy half dollars valuable?
While all 1964 Kennedy half dollars contain 90% silver, most are common and valued between $11 and $25, depending on condition. Only specific variants like the SMS are highly valuable.
What is the difference between a proof and an SMS coin?
Proof coins have a mirror-like finish and are struck multiple times for clarity, while SMS coins have a satin finish and were produced with a single strike, intended for special mint sets.
Where can I sell a rare Kennedy half dollar?
Rare coins can be sold through reputable coin dealers, auction houses, or online platforms specializing in numismatics. It’s advisable to have the coin professionally graded before selling.
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