As a lifelong coin collector and professional numismatist, I‘ve long had a fascination with the Franklin Half Dollar series. These handsome 90% silver coins feature an iconic American design, multiple intriguing varieties, and an important place in U.S. history. Issued from 1948 to 1963, they span the post-World War II era up until the momentous year that saw the assassination of President John F. Kennedy.
The series came to a conclusion in 1963, with the Philadelphia and Denver Mints striking a combined total of nearly 90 million pieces. Over 22.1 million were coined in Philadelphia, identifiable by the lack of a mintmark. Denver, using a "D" mintmark, produced more than 67.0 million. An additional 3.1 million Proof coins were minted for collectors.
In this comprehensive guide, I‘ll share my expertise on collecting and investing in the 1963 Franklin Half Dollar. We‘ll explore the coin‘s history and design, dive into the nuances of varieties and condition rarities, and analyze the market for high-grade examples. Whether you‘re a new collector or a seasoned pro, my aim is to provide valuable insights to enhance your enjoyment and success in this fascinating niche of the hobby.
Historical Context
First, a quick review of the coin‘s background. The Franklin Half Dollar debuted in 1948, the 200th anniversary of Benjamin Franklin‘s birth. It was a replacement for the long-running Walking Liberty Half Dollar, which had been issued since 1916.
The new coin was designed by Chief Engraver of the U.S. Mint, John R. Sinnock. His initials, JRS, appear at the base of Franklin‘s bust. The reverse‘s Liberty Bell was modeled by then-Assistant Engraver John Frederick Lewis, whose initials JFL flank the bell.
The post-war years saw a booming U.S. economy and population, resulting in an increased demand for coinage. Half dollars, in particular, were heavily used in commerce, and the Mint stepped up production to meet the need. 1963 marked a major transition year in U.S. coinage. Rising silver prices had made the precious metal too expensive for circulation. The Mint moved to a copper-nickel clad composition for dimes and quarters partway through the year and did the same for the half dollar beginning in 1965. Thus, 1963 represents the last year of the 90% silver Franklin Half Dollar and a key date in the transition to clad coinage.
Coin Design
The obverse features a right-facing bust of a balding, bespectacled Franklin, along with the motto "LIBERTY" and the date. The reverse showcases an outsized Liberty Bell and a small eagle, fulfilling the legal requirement that the national bird appear on all U.S. silver coins. "UNITED STATES OF AMERICA," "E PLURIBUS UNUM," and "HALF DOLLAR" complete the design.
Two reverse subtypes exist for the series. On the Type 1 reverse, used from 1948 through early 1956, the eagle‘s wings have a somewhat rounded shape, earning it the nickname "Bugs Bunny" for a perceived resemblance to the cartoon character. The Type 2 reverse, used from 1956 on, features a more slender, heraldic eagle. Both appear in 1963, making it a year that collectors of design types target to complete a basic two-coin Franklin set.
Third-Party Grading
When it comes to valuing Franklin Half Dollars, or any rare coin, professional third-party grading is key. Leading services like PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation) assign numerical grades from 1 to 70 based on a coin‘s condition. These grades dramatically affect a coin‘s worth.
The 1-70 grading scale is further divided into these main categories:
- 1-59: Circulated grades from About Good (the lowest) up to About Uncirculated
- 60-70: Uncirculated or Mint State grades representing coins without any wear
- 60-62: Coins with many marks or flaws precluding a Choice designation
- 63-64: Choice Uncirculated coins of very high quality but not quite "Gem"
- 65-70: Gem Uncirculated coins, the finest examples available
Proof coins, specially struck for collectors, are designated PF or PR followed by a numeric grade from 60 to 70.
In addition to the numeric grade, certified coins are sealed in sonically-welded hard plastic holders with unique serial numbers and anti-counterfeiting features. This "slabbing" guarantees authenticity, preserves the coin, and makes valuation much more standardized versus "raw" (uncertified) coins.
Pricing and Rarity
Despite its high mintages, the 1963 Franklin Half Dollar does include some notable condition rarities that command impressive prices. The following chart breaks down recent representative values for PCGS-certified examples in various grades, including some record auction results.
| Grade | PCGS Price Guide | Noteworthy Sales |
|---|---|---|
| MS-60 | $15 | |
| MS-61 | $18 | |
| MS-62 | $22 | |
| MS-63 | $35 | $325 for a toned example in 2020 |
| MS-64 | $65 | $504 for a toned example in 2022 |
| MS-65 | $130 | $6,038 for a colorfully toned example in 2017 |
| MS-66 | $325 | $28,200 for a high-end MS-66+ with Full Bell Lines in 2014 |
| MS-67 | $3,250 | $85,188 for an MS-67+ with Full Bell Lines, an all-time record in 2019 |
| PF-64 | $30 | |
| PF-65 | $40 | |
| PF-66 | $75 | |
| PF-67 | $140 | $204 for a notable toned example in 2021 |
Sources: PCGS CoinFacts, PCGS Auction Prices Realized, NGC Coin Explorer. Data as of April 2023.
As the chart makes clear, prices escalate rapidly in the higher Mint State grades. Gem examples grading MS-65 are scarce, while coins grading MS-66 or MS-67 are rare. The record price for any 1963 Franklin stands at $85,187.50, paid for a PCGS MS-67+ specimen with fully struck "Full Bell Lines" (FBL) on the reverse. FBL pieces are coveted by collectors who compete to build the finest possible registry sets.
While those ultra-high-end examples are out of reach for most collectors, nice uncirculated pieces are readily available under $100. Attractive circulated coins are even more affordable, often under $20.
Proof coins are also very collectible, with prices starting under $50 for choice examples. Interestingly, Cameo and Deep Cameo contrast on 1963 Proofs is scarce – PCGS estimates just 10-12% of surviving pieces qualify for these designations versus 50-60% for many other Proof Franklins. These command strong premiums when they appear.
Toning and Eye Appeal
Another factor that can significantly boost the value of a 1963 Franklin Half Dollar is toning – the natural coloration that forms on a coin‘s surface over time due to chemical reactions with the environment. Silver coins like the Franklin are especially prone to toning, which can range from subtle golden hues to vivid rainbows.
Many collectors prize attractively toned coins and will pay large sums for exceptional examples. An evenly toned coin with a vibrant palette of colors can bring many multiples of what an untoned or "white" coin in the same grade would realize. This is especially true for coins that grade MS-64 to MS-66, where the combination of technical quality and eye appeal is irresistible.
Error Coins and Varieties
1963 Franklins are also collectible as error coins and die varieties. While mint errors were less common in this modern era than in earlier periods, there are still some notable examples that command strong premiums.
Errors
- 1963 Struck on 1962 Kennedy Half. Perhaps 4-5 known, $1,000+
- Off-Center Strikes. Minor 5-10% clips trade in the hundreds of dollars, while dramatic 50%+ off-centers can bring thousands.
- Double Strikes and Brockages. Always popular, these errors start at $100-$200 for minor examples and range up to the low thousands for dramatic multi-struck coins.
Varieties
- "No FG" Reverse. Missing the initials of designer John Frederick Lewis near the Liberty Bell. $50-$100 in Mint State.
- Repunched Mintmarks (RPMs). Minor repunching is common on 1963-D dies. Drastic repunching trades for $50-$100.
- Doubled Die Reverses (DDRs). Minor doubling in the lettering. $25-$50 for choice examples.
Collecting Strategies
Building a collection of 1963 Franklin Half Dollars offers options for every budget. If you‘re just starting out, a simple two-coin set with one example from each mint makes a fun and affordable goal.
More advanced collectors often assemble "date sets" including one coin of each date and mintmark in the series. Focusing on high-grade examples is the natural next step up.
For Registry Set collectors with deeper pockets, putting together a graded set of 1963 Franklins in grades like MS-66+ and MS-67 is the ultimate challenge, especially when "Full Bell Lines" examples are required. Few collectors have ever completed an all-Superb Gem FBL set!
One smart collecting strategy that I recommend is to cherrypick exceptional toned coins when they come up for auction. Attractive toners often sell for multiples beyond untoned examples, so if you have an eye for color and are patient, you can acquire some real prizes for your collection without necessarily breaking the bank.
Investment Potential
Like many modern U.S. coins, most 1963 Franklin Half Dollars do not have a ton of upside investment potential if you‘re buying strictly for future appreciation. Unless you are able to acquire the few finest-known examples, which can set you back tens of thousands of dollars, most of these coins are not poised for dramatic price increases.
That said, the overall Franklin series is popular with collectors and there is always demand for attractive high-grade examples. They represent an affordable way to own some classic 90% silver U.S. coinage. Exceptional toned coins, in particular, seem to have plenty of room for growth given the booming market for rainbow toners in recent years.
Your best bet for investment is probably to seek out premium-quality coins with a nice "look" in grades like MS-64 to MS-66. These have the best balance between acquisition cost and value retention. Try to cherrypick pieces that are high-end for the grade, ideally with attractive natural toning.
At the end of the day, buy the coin because you like it, not solely in hopes of a big financial windfall down the road. Collect for the enjoyment of the hobby first and foremost!
Conclusions
The 1963 Franklin Half Dollar will always be an important and desirable issue for collectors. It‘s the last of its kind – the final year of a classic 90% silver design before the switch to clad coinage. It also stands as a numismatic connection to a pivotal year in American history.
With ample affordable circulated and lower Mint State examples on the market, it‘s an excellent series for a new collector to begin pursuing. There are also some legendary rarities and condition census coins for more advanced hobbyists to chase. No matter your budget, you‘re sure to find a 1963 Franklin (or several) to suit your collecting tastes.
If you have an interest in old silver U.S. coinage, I highly recommend taking a second look at this often-overlooked series. Dive into the nuances of strike, toning, and varieties. Explore the history behind the coins. Most of all, have fun and collect what you love. Happy collecting!
Do you have a favorite 1963 Franklin Half Dollar? Any questions on collecting the series? Let me know in the comments below! I‘m always happy to chat about these fascinating coins.
