Introduction
For collectors of vintage U.S. coins, the Walking Liberty half dollar series is a perennial favorite. Designed by renowned sculptor Adolph A. Weinman, it‘s widely considered one of the most beautiful and iconic coins in American history. The year 1942 is especially notable for the series, with ample mintages struck at all three mints amid the backdrop of World War II.
In this comprehensive guide, we‘ll dive deep into the 1942 Walking Liberty half dollar from a collector‘s perspective. We‘ll explore its historical context, artistic symbolism, key rarities, and overall collectibility. Whether you‘re just starting your collection or are a seasoned Walking Liberty enthusiast, this article will provide valuable insights to help you appreciate these classic 90% silver coins.
Historical Context
The year 1942 was a pivotal one in world history. The United States had officially entered World War II in December 1941 after the attack on Pearl Harbor. The nation was rapidly mobilizing for war, with rationing of consumer goods and strategic materials, including the copper and nickel used in coin production.
Despite these challenges, the U.S. Mint continued striking coins to meet demand. In fact, the Mint struck over 254 million coins across all denominations in 1942, up from around 219 million in 1941 [1]. The half dollar saw a significant mintage reduction compared to prior years though, dropping from over 101 million struck in 1940 to around 71.5 million in 1942 [2].
Some key events in 1942 that provide historical context:
- January: United Nations is established, with 26 signatories
- February: Daylight saving time goes into effect in the U.S. to conserve energy for the war effort
- June: Battle of Midway becomes a turning point in the Pacific theater
- August: Disney‘s animated film Bambi is released
- October: The Manhattan Project is formally created to develop the atomic bomb
Against this backdrop of global conflict and change, the Walking Liberty half dollar endured as a symbol of American resilience and ideals.
Weinman‘s Iconic Design
First struck in 1916, the Walking Liberty half dollar replaced the earlier Barber design. It was created by Adolph Alexander Weinman, a renowned sculptor and engraver who studied under the legendary Augustus Saint-Gaudens. Weinman‘s design is rich with symbolism and artistic merits.
The obverse features a full-length figure of Liberty striding confidently toward the dawn of a new day, hence the "Walking Liberty" moniker. In her extended left hand, she carries branches of laurel and oak, respectively symbolizing civil and military glory. Her right hand is outstretched in a gesture of benediction, while her billowing gown and windblown hair give a striking sense of movement. The American flag is draped over her shoulder, linking Liberty to the nation she represents.
The date appears below Liberty, while the motto "IN GOD WE TRUST" arcs overhead. Interestingly, 1942 was the first year that motto appeared on the half dollar. It was added to U.S. coins in the 1950s during the Cold War, but the half dollar used an older reverse design without space for the motto until 1942.
Speaking of the reverse, it features a majestic eagle perched on a mountain crag, wings unfolded in a heraldic pose. A sapling pine branch sprouts from the rock, symbolizing America‘s growth as a nation. The eagle faces the rising sun, representing a hopeful future. Inscriptions include "UNITED STATES OF AMERICA," "E PLURIBUS UNUM," and "HALF DOLLAR."
With its stunning combination of realism and allegory, Weinman‘s Walking Liberty design elevates the half dollar to the ranks of numismatic art. It‘s truly a privilege to own and appreciate such a beautiful coin.
1942 Half Dollar Mintages and Values
In total, the U.S. Mint struck 71,520,920 half dollars across all three mints in 1942. Here‘s the breakdown by mint mark:
| Mint | Mintage | Mint Mark |
|---|---|---|
| Philadelphia | 47,839,120 | none |
| Denver | 10,973,800 | D |
| San Francisco | 12,708,000 | S |
In circulated condition, the vast majority of 1942 half dollars are worth relatively close to their silver bullion value. With a weight of 12.5 grams and a silver content of 90%, each coin contains roughly 0.36169 troy ounces of pure silver [3]. At a spot price of $25 per ounce, for example, the baseline value would be around $9.
However, collector demand and grade can significantly impact values. Here‘s an estimated value chart for the 1942 half dollar across different grade levels:
| Grade | 1942 | 1942-D | 1942-S |
|---|---|---|---|
| Good (G-4) | $13 | $13 | $13 |
| Very Good (VG-8) | $14 | $15 | $14 |
| Fine (F-12) | $16 | $16 | $16 |
| Very Fine (VF-20) | $17 | $18 | $17 |
| Extra Fine (EF-40) | $18 | $20 | $18 |
| About Uncirculated (AU-50) | $22 | $24 | $22 |
| Mint State 60 (MS-60) | $28 | $30 | $28 |
| Mint State 63 (MS-63) | $40 | $45 | $45 |
| Mint State 65 (MS-65) | $85 | $100 | $110 |
| Mint State 67 (MS-67) | $325 | $450 | $500 |
As you can see, there‘s a significant jump in value for uncirculated (MS-60+) examples, especially in the gem grades of MS-65 and up. Mint state examples are relatively plentiful though, with PCGS estimating 46,000 surviving Philadelphia coins, 8,750 Denver coins, and 9,600 San Francisco coins in MS-60 or better condition [4].
Key Varieties and Errors
For advanced collectors, some notable varieties and errors can add depth to a 1942 Walking Liberty half dollar set. Here are a few to watch for:
1942 Doubled Die Obverse
The most prominent variety is the 1942 doubled die obverse (DDO). This error occurred when the coin die was struck twice by the hub at slightly different angles, resulting in a doubling effect. The doubling is most visible on the motto "IN GOD WE TRUST" and the date. Designated FS-101 per the Cherrypickers‘ Guide, this rare variety can command a significant premium.
PCGS has graded only 29 examples as of August 2023, with values ranging from $350 in XF condition to over $10,000 in gem uncirculated. The finest known example is a single MS-67 that sold for $88,125 in a 2015 Heritage Auction [5].
1942/1941 Overdate
Another notable variety is the 1942/1941 overdate. This refers to a die that was originally intended for 1941 half dollars but was repunched with a 1942 date. The result shows remnants of the "1" under the "2" in the date. These are extremely rare, with only a handful of examples known across all grades. One PCGS VF-20 specimen sold for $4,406 in 2017 [6].
Planchet Errors
1942 half dollars can also be found with various planchet and striking errors. These include clipped planchets, lamination errors, off-center strikes, and more. Depending on the severity and visual appeal of the error, values can range from $100 to over $1,000 for dramatic examples.
Collecting Tips
Building a set of 1942 Walking Liberty half dollars is a fun and accessible goal for many collectors. Here are some tips to keep in mind:
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Set a collecting goal and budget. Decide if you want to focus on a single high-grade example, collect one from each mint, or build a complete set across different grades. Establish a budget and stick to it.
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Buy certified coins for peace of mind. For uncirculated examples especially, purchasing coins graded by reputable third-party services like PCGS or NGC guarantees authenticity and condition. Even a single grade point can make a big difference in value.
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Consider eye appeal in addition to grade. Technical grade is important, but a visually stunning coin for the grade will always be more desirable. Look for examples with original luster, attractive toning, and minimal marks and blemishes.
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Explore key date and variety sets. Collecting the major varieties like the 1942 DDO and 1942/41 overdate can be an exciting challenge. You could also build a short set of half dollars from 1941-1945 for a WWII theme.
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Be patient and selective. Don‘t feel pressured to buy the first example you see. Take your time, work with reputable dealers, and wait for the right coin at the right price. Building a quality set can take years, but that‘s part of the fun.
Investment Potential
With their 90% silver content and historical significance, 1942 Walking Liberty half dollars can be a solid store of value for collectors and investors alike. However, the real potential lies in rare varieties and high-grade examples.
Over the past 20 years, the PCGS 3000 Index (tracking 3000 rare U.S. coins) has achieved a compound annual growth rate of 11.14% [7]. That outpaces the S&P 500‘s 9.64% return over the same period. Of course, past performance is no guarantee of future results. Carefully research any potential coin investment and only purchase certified coins from reputable dealers.
Noteworthy examples of strong performers include:
- A 1942 DDO graded PCGS MS-66 sold for $12,038 in 2015, up from $2,530 in 2002 [5].
- The finest known 1942/41 overdate graded PCGS MS-65 sold for $54,050 in 2022, compared to $9,200 in 2005 [6].
- A 1942 "Superbird" variety with die striations on the eagle‘s legs graded PCGS MS-67+ sold for a record $81,000 in 2021 [8].
Of course, these are extraordinary examples. More broadly, gem uncirculated 1942 half dollars are relatively affordable and have good potential for long-term appreciation. But like any collectible, buy them first and foremost because you love and appreciate them. A collection you‘re passionate about will always bring more joy than chasing profits alone.
Conclusion
The 1942 Walking Liberty half dollar may not be a rare date in the series, but it offers a wealth of collecting opportunities. From pristine uncirculated examples to fascinating errors and varieties, there‘s something for every collector‘s taste and budget.
More than that, these coins represent a tangible link to a pivotal era in U.S. history. Holding a 1942 half dollar, you can imagine the challenges and triumphs Americans faced during World War II. Weinman‘s symbolic design captures the enduring spirit of a nation united in common purpose.
Whether you‘re drawn to their artistic beauty, historical significance, or potential as an investment, 1942 Walking Liberty half dollars are a crown jewel of American numismatics. By learning about their intricacies and assembling a meaningful collection, you‘re not just preserving these coins – you‘re preserving a cherished piece of our shared heritage. Happy collecting!
References
[1] https://www.usmint.gov/learn/coin-and-medal-programs/coin-production[2] https://www.pcgs.com/coinfacts/coin/1942-50c-walking-liberty/6611
[3] https://www.ngccoin.com/coin-explorer/silver-coins-pscid-61/liberty-walking-half-dollars-1916-1947-pscid-169
[4] https://www.pcgs.com/coinfacts/coin/1942-50c-walking-liberty/6611
[5] https://www.pcgs.com/coinfacts/coin/1942-50c-doubled-die-obverse-fs-101/145212
[6] https://www.pcgs.com/coinfacts/coin/1942-50c-1941-50c/145206
[7] https://www.pcgs.com/prices/coin-indexes
[8] https://coinweek.com/auctions-news/legend-rare-coin-auctions-sells-superbird-1942-half-dollar-for-81000/
