Franklin half dollars are silver half dollars that offer a pure silver play with the kick of coins, which can pick up premiums in markets with heavy public participation. Franklin half dollars bear likeness of Benjamin Franklin, hence their names. The reverse carries the image of the Liberty Bell.
Ben Franklin half dollars are 90% silver and 10% copper. Each coin, when minted, contained 0.36169 ounce of silver. A bag ($1,000 face — 2,000 coins) of circulated Franklin half dollars weighs right at 55 pounds on a bathroom scale and will yield 718-720 ounces of silver if smelted. Between 1948 and1963, the U.S. Mint produced approximately 309.4 million Benjamin Franklin half dollars.
Silver Half Dollar Market
In the 1970s, investors who bought circulated silver half dollars received mixes of Franklin half dollars, Kennedy, and Walking Liberty half dollars , but mostly Franklin and Kennedy coins. Generally, bags of silver half dollars carried no premiums over dimes and quarters, as all pre-1965 U.S. 90% silver coins were abundant.
By the 1980s, the smelting of 90% coins became commonplace. Still, bags of 90% silver coins were plentiful. Yet following the 1980s melt, silver half dollars sometimes picked up premiums over dimes and quarters.
During the 1990s, after a decade of heavy smelting of 90% coins, silver half dollars often sold at premiums to dimes and quarters. When silver half dollars didn’t sell at premiums to dimes and quarters in ’90s, it was during periods of little interest in silver, such as in the early 1990s before silver enjoyed a run-up.
Silver Half Dollar Premiums
Y2K buying in 1999 put premiums on all 90% silver coins, and silver half dollars sold at solid premiums over dimes and quarters. However, during the Y2K wash-out in 2000 and early 2001, when people who had bought in 1999 began dumping, silver half dollars did not carry premiums.
People who bought because of Y2K did so because they feared a collapse of the world’s economy, not because of silver’s supply/demand fundamentals or because they knew the dangers of paper money and wanted an alternative. So, when Y2K became a nonevent, 90% silver coins poured into the market. That selling, however, was short lived.
By 2001, silver half dollars began picking up premiums over dimes and quarters. By summer 2002, a strong demand for silver half dollars caused them to be separated into bags of Franklin, Kennedy, and Walking Liberty silver half dollars. Walking Liberty silver half dollars picked up the largest premiums followed by the Franklin half dollars, and then the ’64 Kennedy half dollars.
Basically, investors who buy bags of junk U.S. 90% silver coins are making silver bullion investments. However, certain types of 90% silver coins have the potential to pick up premiums when the public comes heavily to the silver market. Franklin half dollars are among those special coins.
Ben Franklin Half Dollars are unique
Ben Franklin half dollars are unique because they were minted using only 90% silver. This is true also for Walking Liberty silver half dollars and Mercury dimes. In contrast, Roosevelt dimes and Washington quarters have been turned out with a 90% alloy (pre-1965 dates) and with a cupro-nickel alloy (1965 to current dates). Kennedy silver half dollars have been minted with three alloys: 90% silver for the 1964 coins, 40% silver for the 1965-1969 dates, and a cupro-nickel alloy since 1970.
Because Ben Franklin half dollars were minted with only 90% silver, you do not have to look at their dates to know that they are 90% silver. That is one reason Franklin half dollars and Mercury dimes carry premiums over other circulated 90% coins. Walking Liberty half dollars carry still higher premiums because of the popular Walking Liberty design on the front and because they are in short supply.
Franklin Half Dollars
Franklin half dollars minted from 1948 – 1963 are silver half dollars that, while simply designed, can pick up premiums in markets because of popular public interest. When first introduced, this coin’s design conjured various sensations and controversies, including mistaken communist ties and concerns about negative global reputations. The Franklin Half Dollar coin features Founding Father Benjamin Franklin on the obverse and the Liberty Bell on the reverse. The Franklin Half Dollar was the first half dollar in circulation, and it featured a historical figure instead of a metaphorical figure like Lady Liberty. It symbolizes American founding independence and values. Released during a time of apprehension and paranoia, coinciding with the second Red Scare, it encapsulates a significant era in U.S. history.
| QUANTITY | 100 | 250 | 500 | 750 | 1000 |
|---|---|---|---|---|---|
| 90% Silver Franklin Half Dollars | $27.61 | $27.61 | $27.61 | $27.61 | $27.61 |
The coin’s simplistic and classical design, from the initials on the obverse to the symbols on the reverse, was shrouded in controversy.
The obverse showcases the stoic profile of Benjamin Franklin around the age of 52. His effigy was modeled after a bust created by the prolific French sculptor Jean-Antoine Houdon. The adaptation design for the coin was designed by John R. Sinnock, the Chief Engraver of the US Mint. Sadly, Sinnock passed away before completion, so Gilroy Roberts took over completing the design. Below Franklin’s left shoulder, John’s initials, JRS, are printed. Controversy ensued, as some believed the initials referenced the communist leader Joseph R. Stalin.
The reverse features the cracked Liberty Bell bearing a small eagle to the right. The eagle was an afterthought design element added to comply with the Coinage Act of 1873, which required eagles on all coins worth more than a dime. The cracked bell and small eagle caused public concern that they created an image of a belittled and broken nation.
Like their companions, the Kennedy Half Dollars and Liberty Half Dollars, Franklin Half dollars have intrinsic value with 90% silver and 10% copper composition. All Franklin Half Dollars were minted before 1964 when the US produced silver coins containing 90% silver. Therefore, you do not need to look at the date to know that they are made of 90% silver.
Each minted coin contains 0.36169 ounces of silver. A bag of circulated Franklin half dollars, valued at $1,000 and containing 2,000 coins, weighs approximately 55 pounds and can yield between 718 and 720 ounces of silver when smelted. Between 1948 and 1963, the U.S. Mint produced around 309.4 million Benjamin Franklin half dollars.
That is why Franklin half dollars and Mercury dimes carry premiums over other circulated 90% coins because of their convenience. Walking Liberty half dollars carry higher premiums because of the popular Walking Liberty design on the front and because they are in short supply.
Investors who buy bags of junk silver coins are investing in silver bullion. However, certain types of 90% silver coins have the potential to gain premiums when public interest in the silver market surges. This was notably seen during the 2000 Y2K scare when the public rushed to purchase silver due to fears of an economic collapse, which drove up the premiums for junk silver coins due to increased demand. Franklin Half Dollars fall into this category. It’s important to compare premiums and timing against other bullion products, as junk silver typically has lower premiums.
- Composition: 90% silver, 10% copper
- Weight: 12.50 grams (0.4019 troy ounces)
- Silver Content: Approximately 0.36169 troy ounces
- Diameter: 30.6 mm (1.205 inches)
Edge: Reeded - Mint Marks: Coins without a mint mark were minted in Philadelphia, while those with a “D” or “S” were minted in Denver and San Francisco. The coin’s mint mark is located above the Liberty Bell on the reverse
Ben Franklin Half Dollars are unique
Ben Franklin half dollars are unique because they were minted using only 90% silver. This is true also for Walking Liberty silver half dollars and Mercury dimes. In contrast, Roosevelt dimes and Washington quarters have been turned out with a 90% alloy (pre-1965 dates) and with a cupro-nickel alloy (1965 to current dates). Kennedy silver half dollars have been minted with three alloys: 90% silver for the 1964 coins, 40% silver for the 1965-1969 dates, and a cupro-nickel alloy since 1970.
Because Ben Franklin half dollars were minted with only 90% silver, you do not have to look at their dates to know that they are 90% silver. That is one reason Franklin half dollars and Mercury dimes carry premiums over other circulated 90% coins. Walking Liberty half dollars carry still higher premiums because of the popular Walking Liberty design on the front and because they are in short supply.
WHY CHOOSE CMI GOLD & SILVER
CMI Gold & Silver, with extensive experience in selling Franklin half dollars since 1974, provides investors with a high level of expertise and confidence. We typically have Franklin half dollars available at all times. Shipments are usually made within one to two days of receiving cleared funds. When you purchase from CMI Gold & Silver, you can be confident in the authenticity and delivery of your Franklin half dollars, providing you with a sense of security. We are backed by over 50 years of experience providing quality products to investors nationwide.
Call one of our non-commissioned brokers today to get your questions about buying and selling precious metals answered.
