In the realm of coin collecting, few pieces capture the imagination quite like the 1935 Walking Liberty Half Dollar. This iconic coin, now approaching its 90th anniversary, continues to fascinate collectors and investors alike. But what exactly makes this particular year's minting so special, and more importantly, how much is a 1935 half dollar worth? Let's embark on a numismatic journey to uncover the true value of this American treasure.
A Brief History of the Walking Liberty Half Dollar
Before we delve into the specifics of the 1935 minting, it's crucial to understand the historical context of the Walking Liberty Half Dollar series.
- Designed by Adolph A. Weinman in 1916
- Replaced the Barber half dollar design
- Minted from 1916 to 1947
- Considered one of the most beautiful U.S. coin designs
The obverse features Lady Liberty striding towards the sunrise, symbolizing the nation's progress, while the reverse showcases a majestic eagle perched on a mountain crag – a powerful representation of American strength and resilience.
The 1935 Minting: A Closer Look
The year 1935 saw the production of Walking Liberty Half Dollars at three different mints:
- Philadelphia (no mint mark): 9,162,000
- Denver (D mint mark): 3,003,800
- San Francisco (S mint mark): 3,854,000
This total mintage of 16,019,800 coins ensures that the 1935 half dollar is not exceptionally rare in circulated conditions. However, the story changes dramatically when we consider high-grade specimens.
Factors Affecting the Value of a 1935 Half Dollar
Several key factors determine the worth of a 1935 Walking Liberty Half Dollar:
- Mint mark
- Condition (grade)
- Rarity of the specific grade
- Presence of any errors or varieties
- Overall eye appeal and toning
Let's break down each of these factors in detail.
Comprehensive Value Guide by Mint and Grade
1935 (Philadelphia – No Mint Mark)
| Grade | Value Range |
|---|---|
| Good (G-4) to Very Good (VG-8) | $12 – $15 |
| Fine (F-12) to Very Fine (VF-20) | $14 – $18 |
| Extremely Fine (EF-40) | $20 – $25 |
| About Uncirculated (AU-50 to AU-58) | $35 – $45 |
| Mint State (MS-60 to MS-63) | $70 – $110 |
| Choice Uncirculated (MS-64 to MS-65) | $185 – $300 |
| Gem Uncirculated (MS-66) | $675 – $750 |
| Superb Gem Uncirculated (MS-67+) | $3,250 – $25,000 |
Notable sale: An MS-67+ specimen sold for an impressive $12,338 in a 2021 auction.
1935-D (Denver)
| Grade | Value Range |
|---|---|
| Good (G-4) to Very Good (VG-8) | $12 – $15 |
| Fine (F-12) to Very Fine (VF-20) | $14 – $20 |
| Extremely Fine (EF-40) | $35 – $45 |
| About Uncirculated (AU-50 to AU-58) | $85 – $100 |
| Mint State (MS-60 to MS-63) | $275 – $500 |
| Choice Uncirculated (MS-64 to MS-65) | $600 – $1,500 |
| Gem Uncirculated (MS-66) | $3,250 – $3,750 |
| Superb Gem Uncirculated (MS-67) | $25,000+ |
Notable sale: An MS-67 specimen achieved $23,500 at auction in 2016.
1935-S (San Francisco)
| Grade | Value Range |
|---|---|
| Good (G-4) to Very Good (VG-8) | $12 – $15 |
| Fine (F-12) to Very Fine (VF-20) | $16 – $25 |
| Extremely Fine (EF-40) | $50 – $65 |
| About Uncirculated (AU-50 to AU-58) | $125 – $150 |
| Mint State (MS-60 to MS-63) | $575 – $775 |
| Choice Uncirculated (MS-64 to MS-65) | $1,275 – $2,500 |
| Gem Uncirculated (MS-66) | $6,000 – $7,500 |
| Superb Gem Uncirculated (MS-67) | $47,500+ |
Notable sale: An MS-67 specimen set a record by selling for $67,563 in a 2023 auction.
The Importance of Grading
As evident from the value tables above, the grade of a 1935 Half Dollar can make a substantial difference in its worth. Professional grading services like PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation) use a standardized scale from 1 to 70, with 70 being a perfect, flawless coin.
For the 1935 Walking Liberty Half Dollar, even a single point difference in grade can result in thousands of dollars in value, especially in the higher mint state ranges. This underscores the importance of accurate grading and the value of having your coins professionally assessed if you believe you have a high-grade specimen.
Rare Errors and Varieties
While the 1935 Half Dollar isn't known for major error varieties, there are some interesting variations that can command premium prices:
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Rotated Die Error: When the obverse and reverse dies are misaligned, resulting in an unusual orientation between the two sides. Values can range from $15 to several hundred dollars, depending on the degree of rotation.
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Doubled Die Error: Caused by a misalignment in the hubbing process, this error can result in a doubling effect on certain design elements. Prices vary widely based on the prominence and location of the doubling.
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Clipped Planchet Error: This occurs when the coin blank is improperly cut, resulting in a missing section of the coin. A 1935 half dollar with this error in MS-64 condition was recently offered for $675.
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Lamination Error: This appears as peeling or flaking on the coin's surface due to impurities in the metal. Pricing depends on the extent and location of the lamination.
Expert Tips for Collectors
As a seasoned US coin collecting expert, I offer the following advice for those interested in acquiring or evaluating 1935 Half Dollars:
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Focus on grade: As demonstrated in our value tables, even small improvements in grade can lead to significant increases in value. When building a collection, prioritize the highest grade you can afford.
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Check for originality: Look for coins with natural toning and luster. Coins that have been artificially toned or improperly cleaned can be worth significantly less than their original counterparts.
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Be wary of cleaned coins: Many well-meaning collectors have inadvertently reduced the value of their coins by cleaning them. Unless done professionally, cleaning can dramatically decrease a coin's worth.
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Consider the mint mark: While Philadelphia issues are more common, San Francisco and Denver mints generally command higher premiums, especially in better grades.
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Invest in a quality loupe: A 5x to 10x magnification loupe is essential for examining the fine details of your coins, including mint marks, potential errors, and signs of wear.
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Stay informed: Keep up with current market trends by regularly consulting price guides, attending coin shows, and participating in numismatic forums.
Investment Potential
The 1935 Walking Liberty Half Dollar has shown steady appreciation over the years, particularly for high-grade specimens. While not as rare as some key dates in the series (like the 1921 issues), it remains a solid choice for both collectors and investors.
Factors contributing to its investment potential include:
- Timeless, popular design that appeals to collectors of all levels
- Solid silver content (90% silver, 10% copper)
- Historical significance as a coin minted during the Great Depression
- Increasing scarcity of high-grade examples as more enter long-term collections
According to data from PCGS, MS-65 examples of the 1935-S half dollar have seen a 51.8% increase in value over the past decade, while MS-67 examples of the 1935 (Philadelphia) issue have appreciated by over 105% in the same period.
Preservation and Care
To maintain the value and condition of your 1935 Half Dollar:
- Store in a cool, dry place to prevent environmental damage
- Use non-PVC holders or albums to avoid chemical reactions
- Handle by the edges, preferably wearing cotton gloves to avoid transferring oils from your skin
- Avoid cleaning unless absolutely necessary and done by a professional
- Consider having valuable specimens professionally conserved if needed
Conclusion: The Enduring Allure of the 1935 Half Dollar
The 1935 Walking Liberty Half Dollar stands as a testament to American coin design and craftsmanship. Its value, both as a collectible and an investment, is underpinned by its historical significance, aesthetic appeal, and the increasing scarcity of high-grade specimens.
Whether you're a seasoned numismatist or a newcomer to the hobby, the 1935 half dollar offers a fascinating window into American history and the art of coin collecting. From circulated examples that can be obtained for under $20, to superb gem uncirculated specimens that command tens of thousands of dollars, there's a 1935 Walking Liberty Half Dollar for every budget and collecting goal.
As we approach the coin's 90th anniversary, its allure shows no signs of diminishing. Each 1935 half dollar tells a story – of the artists who designed it, the mint workers who struck it, the people who used it during the challenging years of the Great Depression, and the collectors who have treasured it over the decades.
In the end, the true worth of a 1935 half dollar extends beyond its monetary value. It's a tangible piece of American history, a work of art you can hold in your hand, and a reminder of the enduring legacy of U.S. coinage. Whether you're adding to your collection or considering your first purchase, the 1935 Walking Liberty Half Dollar remains a numismatic treasure worth exploring.
