What is a Franklin Half Dollar? | Coin Overview and History

 

Learn More About the Franklin Half Dollar

Despite only having been minted for 15 years, the Franklin half dollar is one of the most iconic half dollars ever produced by the United States Mint. The coin featured a set of simple designs that invoke classic American symbols and was minted with 90% fine silver bullion. Today, the Franklin half dollar is a popular way to invest in junk silver, and certain rare Franklin half dollars are considered coveted collector’s items. 

Although the coin may seem like a simple piece of American coinage history, its background and lifespan were anything but uncontroversial. High notes of the Franklin half dollar’s controversial history include accusations of communist sympathizing, public anger over the crack in the Liberty Bell, and a switch in artists halfway through the coin’s design. 

On this page, learn more about the history and specifications behind the Franklin half dollar, a controversial classic that finds its way into investors’ collections even today. 

Franklin Half Dollar Designs and Mintage History

There’s a reason why the Franklin half dollar is considered such an iconic piece of American coinage. On the obverse, the coin depicts a simple profile portrait of Benjamin Franklin, the United States founding father known for his eccentricity, electricity experiences, and signing of the Declaration of Independence. The artwork shows the founder in middle to late age and was based on a portrait painted when he was around 52 years old. 

The Franklin half dollar’s reverse design features the cracked Liberty Bell in its center. On its right, the coin includes a small American bald eagle. The inclusion of a small bald eagle was meant to fulfil a legal requirement for coinage at the time, a law that mandated all U.S. Mint circulation coins feature at least some depiction of an eagle. The Liberty Bell design on the obverse was the catalyst for one of the coin’s biggest controversies – we’ll talk more about this later. 

U.S. Mint chief engraver John R. Sinnock was tasked with producing a half dollar to celebrate Benjamin Franklin, a founding father whom the U.S. Mint’s directory, Nellie Davis Ross, admired deeply. Sinnock passed away before completing the designs, so Gilroy Roberts carried on with the design process. 

Franklin half dollars were first minted in 1948 and last distributed in 1963, which happens to be the same year that American circulation coins stopped featuring a standard composition of 90% silver. The Philadelphia Mint produced the majority of Franklin half dollars, and both the Denver and San Francisco Mints also minted Franklin half dollars during certain years. The rarest mint mark for a Franklin half dollar to have is the “S” mark from the San Francisco Mint, which only minted Franklin half dollars in 1949 and from 1951-1954. 

The Franklin Half Dollar’s Strange Controversies

Like many American coins, the introduction of the new Franklin half dollar was mired in controversy. Two main controversies dominated public dialogue surrounding the Franklin half dollar in the coin’s first few years of circulation. In one case, public confusion concerning the mint engraver’s initials led to accusations that the mint was celebrating communist and USSR leader Joseph Stalin. In the other controversy, Americans became worried that the crack in the Liberty Bell on the coin’s reverse would make a mockery of the United States. 

Although these controversies were certainly a headache for the U.S. Mint to deal with, they help to place the Franklin half dollar in a unique historical context, adding a bit of value for collectors who like historically relevant coins. Let’s take a closer look at some of the lesser-known controversies that besieged the classic Franklin half dollar. 

The “Joseph Stalin” Controversy

Although the coin’s design was technically completed by Gilroy Roberts, the obverse of the coin features the initials of John R. Sinnock, the artist who originally created the iconic profile artwork of Benjamin Franklin. These initials, JRS, were the catalyst for the main controversy that swirled around the Franklin half dollar after its release in 1948. 

The initial release of the Franklin half dollar happened to coincide with the second Red Scare, a period of time following World War II in which Senator Joseph McCarthy stirred up a mass panic and fear about the presence of communist spies and sympathizers in the United States. Joseph Stalin was alive at this time, and the Soviet Union had become America’s chief enemy in the years leading up to the Cold War. 

When Americans saw the initials “JRS” on the obverse of the Franklin half dollar, some assumed that the initials were a secret homage to Joseph Stalin. Obviously, this was not the case. Joseph Stalin’s middle name, Vissarionovich, did not begin with the letter “R.” As readers already know, the initials on the obverse of the Franklin half dollar are the initials of the coin’s original artist, John R. Stinnock. The Franklin half dollar’s controversy sheds light on the trend of mass paranoia during this pivotal time in American history. 

The “Crack in the Liberty Bell” Controversy

Another controversy concerning the Franklin half dollar’s early years concerned the reverse. The backside of the Franklin half dollar features the Liberty Bell, a classic American symbol currently held at the Liberty Bell Center in Philadelphia. As most Americans already know, the Liberty Bell was damaged decades after its creation and now features a large crack through its center. Today, the bell and its crack are considered classic American icons and a point of pride and patriotism for American citizens. 

This was not necessarily the case in 1948, when the Franklin half dollar was released by the Philadelphia Mint. Like many circulation coins minted during this period, the U.S. Mint brought its designs to secure the approval of the Commission of Fine Arts. The Commission did not like the crack in the Liberty Bell, which it believed would make the coin into a joke to Americans and foreign citizens. Additionally, the Commission disagreed with the decision to make the eagle on the reverse side so small, considering it to likely result in a similar mockery and ridicule. 

Luckily for modern collectors, the U.S. Mint ignored the criticism from the Commission of Fine Arts, finalizing its Franklin half dollar design that same year. Nowadays, the crack in the Liberty Bell is the diametric opposite of a joke – it’s a point of pride for Americans and a symbol of our shared history and culture. 

What Are the Rarest Franklin Half Dollars? 

Key dates for the Franklin half dollar include 1948, 1949-S, 1953, and 1955. These were the years when the fewest number of Franklin half dollars were minted, so they’re often worth a decent amount of money more than melt value. Proof and error Franklin half dollars are considered rare collector’s items, with a few coins in the series selling for tens of thousands of dollars or more! 

Most Franklin half dollars are worth a little bit more than their silver melt value. Like other coins minted before 1964, Franklin half dollars include 90% pure silver. This amounts to a total net silver weight of .36169 troy ounces. Because Franklin half dollars are also circulated coins from the 20th century, they often sell for a modest premium over melt value. At the very least, a Franklin half dollar is worth the current spot price of silver multiplied by .36169. 

Are Franklin Half Dollars Worth Collecting? 

Franklin half dollars are extremely popular items for both collectors and silver stackers.

Collectors tend to prioritize Franklin half dollars that are from key dates or are exceptionally rare, well-maintained, or feature uncommon errors. Remember – some  Franklin half dollars with rare errors are worth tens of thousands of dollars, making them coveted collector’s items. Some collectors also enjoy the process of building an entire set of Franklin half dollars, which can be a costly – but rewarding – process. 

Franklin half dollars are also a great choice for investors who like to stack junk silver. Franklin halves in moderate or used condition from common dates are often worth little more than their silver melt value, so they can be a good way for investors to expand their silver portfolios without spending too much money on precious metal premiums. To stack Franklin half dollars, look for dealers that are selling Franklin halves for near melt value. 

Final Thoughts: An Introduction to Franklin Half Dollars

Franklin half dollars were only minted for 15 years from 1948-1963, but they have become some of the most recognizable and collectible coins in American history. Most Franklin half dollars are worth little more than their melt value in pure silver, but certain coins from the series can be worth several thousand dollars in peak condition. 

Much of the collectible value of the Franklin half dollar comes from the coin’s unique history. Two major controversies mired the release of the Franklin half dollar, and both controversies provide insight into both the coin’s importance and the unique historical context in which they were released. 

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