The 1964 Kennedy Half Dollar is more than just a coin; it’s a piece of American history that captures the nation’s grief and admiration for President John F. Kennedy following his tragic assassination in November 1963. Minted just months after his death, this 50-cent coin became an instant symbol of remembrance, with millions hoarded by the public as keepsakes. While most 1964 Kennedy Half Dollars are worth their silver content—around $10 to $15 at current market prices—a select few are extraordinarily rare and can fetch prices exceeding $950,000 at auction. This article explores the history, unique features, and step-by-step guidance on how to identify these ultra-valuable coins, potentially hiding in your collection or pocket change.
The Historical Significance of the 1964 Kennedy Half Dollar
The Kennedy Half Dollar was authorized by Congress just over a month after President Kennedy’s assassination, replacing the Franklin Half Dollar. Designed by Mint sculptors Gilroy Roberts and Frank Gasparro, the coin features Kennedy’s portrait on the obverse and the Presidential Seal on the reverse. The U.S. Mint began production in January 1964, releasing the coins to the public on March 24, 1964. Struck in 90% silver and 10% copper, the 1964 Kennedy Half Dollar was the last circulating half dollar to contain such a high silver content, making it attractive to both collectors and silver investors.
Over 429 million coins were minted in 1964 between the Philadelphia (273,304,004 coins) and Denver (156,205,446 coins) Mints, a massive production driven by public demand and a looming silver shortage. However, widespread hoarding due to sentimental value and rising silver prices meant few coins actually circulated. Many were melted down during the silver price spikes of the 1970s and 1980s, reducing the supply of high-quality specimens. Despite the large mintage, certain rare varieties and conditions have made some 1964 Kennedy Half Dollars exceptionally valuable.
What Makes a 1964 Kennedy Half Dollar Rare?
Several factors contribute to the rarity and value of specific 1964 Kennedy Half Dollars, including minting errors, special finishes, and pristine condition. The most valuable are the Special Mint Set (SMS) coins and the Accented Hair proof variety, alongside coins with significant minting errors. Here’s a breakdown of what to look for:
1. The 1964 SMS Kennedy Half Dollar
The rarest and most valuable 1964 Kennedy Half Dollar is the Special Mint Set (SMS) version, speculated to be part of an experimental collector coin set struck by the Philadelphia Mint. Only about a dozen to twenty examples are known to exist, making them incredibly scarce. These coins are distinguished by:
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Satin-Like Finish: Unlike the glossy proof coins or dull circulation strikes, SMS coins have a unique satin texture.
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Sharp, High-Definition Details: The strike is exceptionally crisp, with meticulous definition in Kennedy’s portrait and the reverse eagle.
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Die Polishing Lines: Fine lines from the minting process are visible on the coin’s surface, indicating careful production.
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No Contact Marks: SMS coins were struck individually, resulting in pristine surfaces with minimal scratches or marks.
In 2019, a 1964 SMS Kennedy Half Dollar graded SP68 by PCGS sold for $156,000 at a Stack’s Bowers auction, and experts believe a pristine example could exceed $950,000 today due to increasing collector demand. The mystery surrounding their production—no official records confirm their creation—adds to their allure.
2. The Accented Hair Proof Variety
Another highly sought-after variant is the 1964 Accented Hair proof coin, struck in Philadelphia. Early proof strikes featured extra hair detail above Kennedy’s ear, a design later modified at the request of Jacqueline Kennedy to soften the hair lines. Approximately 100,000 of the nearly 4 million proof coins minted in 1964 have this feature, making them relatively rare. Key identifiers include:
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Heavy Hair Detailing: Prominent hair lines above Kennedy’s ear, particularly noticeable under magnification.
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Missing Serif on “I” in LIBERTY: The left side of the letter “I” in “LIBERTY” lacks a serif, a subtle but critical detail.
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Proof Characteristics: A mirror-like background with a frosted foreground image, typical of proof coins.
Accented Hair proofs in high grades, such as PR69 or PR70, can fetch significant sums. For example, a PR69 Accented Hair proof sold for $45,600 in 2022. While not as valuable as the SMS coins, these proofs are still highly collectible.
3. Minting Errors
Minting errors can dramatically increase a coin’s value. Notable errors in the 1964 Kennedy Half Dollar include:
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Double Die Obverse: The design appears doubled, particularly in the lettering or Kennedy’s profile, due to a misaligned die. A 1964-D double die obverse coin in excellent condition was valued at over $50,000 by experts.
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Off-Center Strikes: Coins struck off-center, leaving part of the design missing, can sell for hundreds to thousands of dollars depending on the error’s severity.
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Wrong Planchet Errors: Some 1964 Kennedy Half Dollars were mistakenly struck on planchets intended for other coins, such as 90% silver proof planchets from earlier denominations. These are extremely rare and valuable.
4. Condition and Grading
The condition of a coin is paramount in determining its value. Coins graded by professional services like PCGS or NGC in Mint State (MS) or Proof (PR) grades of 67 or higher are significantly more valuable. For example:
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MS67 and Above: Uncirculated 1964 Kennedy Half Dollars graded MS67 or higher are rare, with MS68 examples fetching $2,500 to $22,325 at auction.
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PR70 Deep Cameo: Proof coins with deep cameo contrast (strong frost on the design against a mirror-like field) can sell for $9,400 or more in PR70 condition.
How to Identify a Rare 1964 Kennedy Half Dollar
To determine if you have a rare 1964 Kennedy Half Dollar, follow these steps:
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Check the Date and Mint Mark:
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Look for the year “1964” on the obverse. The mint mark, if present, is located below Kennedy’s portrait, to the left of the eagle’s tail on the reverse.
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No mint mark indicates Philadelphia; “D” indicates Denver. SMS coins typically lack a mint mark, while Accented Hair proofs are from Philadelphia.
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Examine the Finish:
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Circulation Strikes: These have a standard, slightly worn appearance if circulated, or a lustrous finish if uncirculated.
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Proof Coins: Look for a mirror-like background with frosted details.
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SMS Coins: Identify the satin-like finish and sharp details. These coins often have die polishing lines visible under a loupe.
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Inspect for Accented Hair:
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Use a 10x magnifier or jeweler’s loupe to examine the hair above Kennedy’s ear. Heavy, prominent lines indicate the Accented Hair variety. Check the “I” in “LIBERTY” for a missing serif.
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Look for Minting Errors:
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Check for doubled lettering, off-center strikes, or unusual planchet characteristics. Compare your coin to images of known errors online or in coin guides.
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Assess Condition:
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Uncirculated coins show no wear, with crisp edges and full luster. Proof coins have a polished, reflective surface. Any scratches, wear, or damage reduce value.
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Get Professional Grading:
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If you suspect your coin is rare, have it authenticated and graded by PCGS or NGC. Professional grading confirms authenticity, identifies varieties, and maximizes resale value. For example, a Pennsylvania family found a 1964-D double die obverse coin in their grandfather’s collection, which was graded and valued at over $50,000.
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Where to Find These Coins
Rare 1964 Kennedy Half Dollars can turn up in unexpected places:
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Coin Jars or Inherited Collections: Many were hoarded in the 1960s and may still be in family collections.
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Bank Rolls: Some uncirculated coins were stored in bank rolls and occasionally re-enter circulation.
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Flea Markets or Estate Sales: Valuable coins have been found in mixed lots at sales.
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Coin Dealers or Auctions: Reputable dealers like JM Bullion, APMEX, or auction houses like Heritage Auctions often handle rare coins.
Tips for Collectors
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Avoid Cleaning Coins: Cleaning can damage the surface and reduce value. Store coins in protective holders to preserve condition.
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Research Market Trends: Coin values fluctuate based on silver prices and collector demand. Check recent auction results on PCGS or NGC websites.
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Join Numismatic Communities: Engage with forums like r/coins on Reddit or the American Numismatic Association for insights and advice.
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Consult Experts: If unsure, visit a certified coin dealer or appraiser for a professional evaluation.
The Value of Rarity
While most 1964 Kennedy Half Dollars are worth $10 to $20 for their silver content, the rare SMS versions, Accented Hair proofs, and error coins can be worth life-changing sums. A 1964 SMS coin graded SP68 sold for $156,000 in 2019, and pristine examples could potentially exceed $950,000 in today’s market. The combination of historical significance, 90% silver content, and extreme rarity drives their value.
Looking Ahead
The 1964 Kennedy Half Dollar is a numismatic treasure with a rich history and the potential for extraordinary value. By understanding its key features—such as the SMS finish, Accented Hair variety, or minting errors—you can identify a coin that might be worth far more than its face value. Whether you’re a seasoned collector or a casual enthusiast, inspecting your coins carefully and seeking professional grading could uncover a hidden fortune. So, check your change, rummage through that old coin jar, or revisit your grandfather’s collection—you might just find a 1964 Kennedy Half Dollar worth over $950,000.
