In the realm of coin collecting, certain pieces captivate enthusiasts and investors alike due to their rarity, historical significance, and unique characteristics. One such coin is the 1964 Special Mint Set (SMS) Kennedy Half Dollar, which garnered significant attention when it sold for $47,000 at a Heritage Auctions event in September 2016.
The Genesis of the 1964 Kennedy Half Dollar
The Kennedy Half Dollar was introduced in 1964, following the tragic assassination of President John F. Kennedy in November 1963. The U.S. Mint expedited the coin’s release as a tribute to the fallen president, with the obverse featuring a portrait of Kennedy designed by Chief Engraver Gilroy Roberts, and the reverse showcasing the Presidential Seal crafted by Frank Gasparro.
Understanding the Special Mint Set (SMS) Coins
While regular proof sets were not issued in 1965, 1966, and 1967 due to a coin shortage, the U.S. Mint produced Special Mint Sets during these years. These sets featured coins with a higher quality finish than regular circulation strikes but were not as refined as proofs.
Interestingly, a limited number of 1964-dated SMS coins, including the Kennedy Half Dollar, were produced, though their exact origin remains a mystery. It’s speculated that these coins were experimental pieces or special strikes, possibly intended to test finishes for the upcoming SMS releases.
Distinctive Features of the 1964 SMS Kennedy Half Dollar
The 1964 SMS Kennedy Half Dollar is distinguishable from its regular counterparts by several unique characteristics:
- Finish: The coin exhibits a satin-like surface, lacking the mirror-like quality of proofs or the standard finish of circulation strikes.
- Strike Quality: It boasts a sharper and more detailed strike, indicative of careful production.
- Die Markers: Notable die markers include a teardrop-shaped “dangling 4” beneath the ‘4’ in the date and specific die polishing lines on both the obverse and reverse.
Rarity and Market Value
Approximately a dozen examples of the 1964 SMS Kennedy Half Dollar are known to exist, making it an exceptionally rare find for collectors. This scarcity, combined with its unique features and the intrigue surrounding its origin, contributes to its high market value.
The September 2016 sale, where one such coin fetched $47,000, underscored its desirability. Subsequent auctions have seen even higher prices, with a specimen selling for $108,000 in April 2019.
Auction Highlights
The table below summarizes notable auction sales of the 1964 SMS Kennedy Half Dollar:
| Date | Auction House | Grade | Realized Price |
|---|---|---|---|
| Jan 2010 | Heritage Auctions | SP67 | $16,100 |
| Sep 2016 | Heritage Auctions | SP67 | $47,000 |
| Apr 2019 | Heritage Auctions | SP67 | $108,000 |
The Enigma of the 1964 SMS Coins
The origins of the 1964 SMS coins remain a topic of debate among numismatists. Some theories suggest they were part of an experimental batch, while others believe they may have been struck for special occasions or presentations. The lack of official documentation adds to their mystique, making them highly coveted in the numismatic community.
Conclusion
The 1964 SMS Kennedy Half Dollar stands as a testament to the allure of numismatic rarities. Its combination of historical significance, unique production qualities, and profound scarcity renders it a prized possession for collectors. The impressive auction prices it commands reflect its esteemed status in the world of coin collecting.
FAQs
What makes the 1964 SMS Kennedy Half Dollar different from regular 1964 half dollars?
The 1964 SMS Kennedy Half Dollar features a satin-like finish, sharper strike, and specific die markers, distinguishing it from regular proof and circulation strikes.
How many 1964 SMS Kennedy Half Dollars are known to exist?
Approximately a dozen examples are known, making it an exceptionally rare coin.
Why did the 1964 SMS Kennedy Half Dollar sell for such a high price?
Its rarity, unique characteristics, and the mystery surrounding its origin contribute to its high market value.
What is the significance of the “dangling 4” on the 1964 SMS Kennedy Half Dollar?
The “dangling 4” is a die marker—a teardrop-shaped feature beneath the ‘4’ in the date—used to identify genuine 1964 SMS specimens.
Are there other coins in the 1964 SMS besides the Kennedy Half Dollar?
Yes, the 1964 SMS is believed to include special strikes of the cent, nickel, dime, quarter, and half dollar, all exhibiting similar satin finishes and sharp strikes.
