Check your change. Seriously. Most of the coins jingling in your pocket are basically worthless beyond their face value, but the 1964 Kennedy half dollar is a massive exception to the rule. It’s the silver lining of a very dark year in American history. People hoard them. They hunt for them in estate sales.
Why? Because it’s the last of its kind.
The 1964 fifty cent piece represents a perfect storm of tragic timing, skyrocketing silver prices, and a grieving nation’s desire for a memento. If you find one today, you aren't just holding fifty cents; you’re holding roughly $10 to $12 worth of raw silver, depending on the current market. That’s a 2,000% increase just for sitting in a drawer.
The Tragic Birth of the 1964 Kennedy Half Dollar
It happened fast.
President John F. Kennedy was assassinated in November 1963. By December, Congress had already fast-tracked the legislation to put his face on the half dollar. It was a whirlwind. Usually, coin designs take years to finalize, but Eva Adams, the Director of the Mint at the time, moved mountains. Chief Engraver Gilroy Roberts and Assistant Engraver Frank Gasparro didn't even have time to start from scratch. They adapted the design from the Kennedy inaugural medal.
The first coins were struck in January 1964. They were supposed to be a tribute, but they became a frenzy.
People didn't spend them. They kept them. The Mint kept cranking them out—nearly 430 million of them between the Philadelphia and Denver facilities—hoping the public would eventually use them for groceries or gas. It didn't happen. People knew silver was on its way out.
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It’s All About the Silver Content
Here is the thing you need to remember: 1964 was the final year the United States Mint used 90% silver for the half dollar.
If you look at a 1965 or 1969 coin, it’s only 40% silver. If you look at a 1971 coin, there is zero silver. It’s just copper and nickel. That 1964 date is the "holy grail" for "junk silver" investors because of that high purity. You can actually hear the difference. Flip a modern coin and it has a dull thud. Flip a 1964 fifty cent piece and it rings with a high-pitched, crystalline chime that lingers in the air.
Each coin contains about 0.3617 troy ounces of pure silver.
When the price of silver spikes, these coins disappear from the market instantly. In the late 70s, when the Hunt brothers tried to corner the silver market, thousands of these coins were melted down. It’s a bit of a tragedy, honestly. A piece of history turned into a silver bar. But because the Mint made so many, they aren't exactly "rare" in the traditional sense. They are just valuable.
How to spot the good ones
You need to look at the mint mark. On the 1964 coins, it’s located on the back (the reverse). Look right above the "L" and "F" in "HALF DOLLAR." If you see a small "D," it was made in Denver. If there is no mark, it’s from Philadelphia.
Is one worth more? Not really.
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The value is mostly tied to the silver weight unless the coin is in "Proof" condition or has a specific error. Collectors go crazy for the "Accented Hair" variety. This was a very early batch of proof coins where the hair above Kennedy's ear was more deeply incised. Jacqueline Kennedy reportedly didn't like how it looked, so they changed the dies. If you find an Accented Hair proof in its original packaging, you’re looking at a significantly higher payday.
The Mystery of the 1964 Special Mint Set (SMS)
Then things get weird.
There are a few 1964 half dollars that are worth thousands. We’re talking $10,000 to $40,000. These are the 1964 Special Mint Set (SMS) coins. Nobody really knows why they exist. They aren't shiny like proof coins, but they aren't dull like regular pocket change. They have a weird, satiny finish and incredibly sharp strikes.
Experts like those at PCGS (Professional Coin Grading Service) believe these might have been experimental pieces struck by Eva Adams as the Mint prepared to stop making proof sets. There are probably fewer than 50 of them in existence. If you find one of these in a box of your grandfather’s old stuff, don't clean it. Whatever you do, never clean a coin. Scrubbing it with baking soda or a cloth destroys the "numismatic" value. You’ll turn a $20,000 coin into a $12 piece of scrap metal in thirty seconds.
Why Nobody Uses Half Dollars Anymore
The 1964 fifty cent piece basically killed the half dollar’s circulation.
Before '64, people actually used half dollars. They were common. But the 1964 version was so popular as a souvenir that it caused a massive shortage. By the time the Mint switched to cheaper metals in 1965, the public had already gotten out of the habit of using them. Vending machines weren't being built to take them. Cash registers stopped having slots for them.
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It’s a ghost coin.
Actionable Steps for Holders of 1964 Coins
If you have a 1964 fifty cent piece, you have a solid asset. Don't just take it to a "We Buy Gold" shop in a strip mall. They will often lowball you.
First, check the condition. If it looks like it just came off the press—crisp lines in the hair, no scratches on the face—it might be worth getting graded by NGC or PCGS. If it’s worn down from being in a pocket, it’s "junk silver."
Check the current "spot price" of silver. Take that price and multiply it by 0.36. That is your absolute floor price.
Go to a reputable local coin shop. Ask for the "bid price" on 90% silver halves. Usually, they pay a multiple of the face value. For example, if silver is up, they might offer "20 times face," meaning they’ll give you $10 for your fifty-cent coin.
If you find a 1964 coin with a weird double-look to the letters (a "doubled die"), keep it separate. Those are rare minting errors that carry a premium. Most importantly, keep it in a cool, dry place. Silver tarnishes. While "toning" (natural discoloration) can sometimes be beautiful and add value, "corrosion" from a damp basement is a value-killer.
Hold onto that silver. They aren't making any more of it.