Walking Liberty Half Dollar

The Walking Liberty Half Dollar, or "Walkers," as they're frequently called, are large, precious-metal coins with a beautiful design.

Specifications

 * Designer: Adolph Alexander Weinman
 * Obverse Design: Full-length figure of Liberty striding
 * Reverse Design: Majestic eagle perched on a mountain crag
 * Edge: Reeded
 * Weight: ±12.5 grams
 * Diameter: ±30 millimeters
 * Composition:  Silver (90%), Copper (10%)
 * Dates Minted: 1916-1947

Background
When discussing the most beautiful designs ever to grace United States coinage, the Walking Liberty half dollar lands in most people’s Top Three. This coin, designed by German-born scupltor, Adolph A. Weinman, and introduced in 1916, was part of an early 20th century movement to emphasize innovative artistry on U.S. coins. Incidentally, Weinman also designed the classic Mercury dime, ALSO introduced in 1916. So beloved is the majestic design of the Walking Liberty half dollar, that the obverse design was brought out of retirement in 1986, to grace the obverse of the new U.S silver dollar bullion coin, which continues to be struck to this day.

The design of the Walking Liberty half dollar is full of striking imagery. On the obverse, Miss Liberty strides towards the rising sun, symbolizing our nation’s march into a glorious new age – hopefully, one of peace and prosperity. Miss Liberty is adorned in a billowy gown, with a Stars and Stripes cloak. Her right arm is stretched out towards the sun, and in her left arm, she cradles branches of laurel and oak (symbolizing civil and military power). On the reverse, a powerful-looking eagle, its wings upraised in a show of power, perched on a mountain pine sapling that protrudes from a rocky crag.

History
The Walking Liberty half dollar was struck at three different mints: Philadelphia, San Francisco and Denver. Generally, the mintmark appears on the reverse, at the bottom left in a small space beneath the pine sapling. The mintmark actually appeared on the obverse of the coin, just below the “In God We Trust” motto, in 1916 and through part of 1917. Midway through 1917, the mintmark was moved to the reverse. This accounts for the FIVE varieties of the 1917 Walking Liberty half dollar: 1917-P, 1917-S obv., 1917-S rev., 1917-D obv., 1917-D rev. In the case of the 1917 half dollar, the obverse mintmark types command a somewhat higher premium than the reverse mintmark types.

Despite a design that announced hope for peace, prosperity, a bright future, the Walking Liberty half dollar circulated through some awful tough times for this nation: two World Wars, Prohibition/gangster wars, and a Great Depression! But.. it was also the half dollar of the Roaring Twenties and the peace years of 1945 through 1947. Though mintages for the Walking Liberty half dollar were rising in the late 1930's, it wasn’t until the 1940's that mintages were consistently high. Due to the high mintages, more of the later Walking Liberty halves were saved in mint condition– which is why a 1940-47 date will easily be your most affordable choice for a mint-state example. Mint-state 1940-47 Walking Liberty halves may not be soaring in value due to high availability, but consider what all you get for just over $30: a beautiful, classic mint-state (with original luster) half dollar that’s now close to 70 years old!

Collecting
Because of this coin’s dramatic eye appeal, high-grade examples are particularly in demand – preferably ones in mint-state or at least near mint-state. And when it comes to high-grade Walking Liberty half dollars, you can almost divide this series into two categories: the hard-to-find in mint-state (1916-39), and the not-so-hard to find in mint state (1940's). This results in some peculiar value pricing in this series. Take a look at the following example: the 1917-P (meaning no mintmark) Walking Liberty half retails for $7 in Good. The 1941-P Walking Liberty half likewise retails for $7 in Good. But when you take both of these dates up to the grade of Extra Fine, the 1917-P half dollar retails at $44, while the 1941-P has only gone up to $8.50! The difference is even more pronounced in the grade of MS-60 (basic uncirculated): the 1917-P retails for $135, but the 1941-P just $32.50!

The scarcest of the Walking Liberty half dollars would be the 1916-S (retails $110 in Good), the 1921-P (retails $175 in Good), and 1921-D (retails $285 in Good). Other tough dates would be the 1916-D and 1916-S (both retail $45 in Good), the 1917-D obv (retails $22 in Good), 1917-S obv (retails $27.50 in Good), and the 1921-S (retails $46 in Good). As you can see, the dates of 1916, 1917 and 1921 really stand out in this series, as far as scarcity.

For a few years, 1936 through 1942, Walking Liberty halves were struck in Proof, as to be included in Proof sets for those years. Though these specially-struck halves were meant to be part of a set, some have been cracked out over the years. Should you come across a single Proof Walking Liberty half dollar of 1936-42, you have quite a valuable coin. In low-end Proof condition, they range in retail value from $600 (as for a 1942, for example) to $2,500 (for the 1936 date).

Grading
Remember however, prices for common-date Walking Liberty half dollars are just around the $32-$35 range for BASIC uncirculated grades. If you have a “full head” mint-state Walking Liberty half, your coin might well command a higher premium, considering the head of Miss Liberty was often NOT fully struck. Also, if your half dollar is in exceptionally nice uncirculated shape – as in MS-65 – the value for the most common dates go up to about $150. Also valued at an added premium are the beautifully-tone Walking Liberty half dollars, especially those with natural and even “rainbow toning,” which can manifest itself in deep hues of purple, blue or dark gold.

Mints

 * Philadelphia Mint (No mintmark)
 * Denver Mint (D mintmark)
 * San Francisco Mint (S mintmark)