The 1962 Franklin Half Dollar is a highly collectible coin from the United States, minted between 1948 and 1963 to honor Benjamin Franklin. This coin continues to hold significant value due to its historical importance and unique design. Below is a comprehensive guide to understanding the 1962 Franklin Half Dollar’s features and its value.
1962 Franklin Half Dollar Value Guide
| Mint Mark | Extremely Fine | Uncirculated (MS60) | Choice Uncirculated (MS63) | Gem Uncirculated (MS65) |
|---|---|---|---|---|
| 1962 No Mint Mark | $16 | $20 | $26 | $80 |
| 1962 D Mint Mark | $16 | $20 | $26 | $60 |
Understanding the 1962 Franklin Half Dollar
The U.S. Mint struck Franklin Half Dollars between 1948 and 1963, with the 1962 version marking a significant year. The coin was issued to honor Benjamin Franklin, a key figure in American history.
Grading the 1962 Franklin Half Dollar
To determine the worth of a 1962 Franklin Half Dollar, it is crucial to assess its grade. The coin’s condition greatly impacts its value. Grading is typically done using the Sheldon scale, which assigns a value based on the coin’s quality. Coins with fewer marks and in higher grades fetch higher prices.
- Extremely Fine (EF): Coins with minor wear but well-defined features.
- Uncirculated (MS60): Coins in near-perfect condition.
- Choice Uncirculated (MS63): Coins with minimal imperfections.
- Gem Uncirculated (MS65): High-quality coins with no visible flaws.
Mint Marks and Rarity
Coins from 1962 are categorized into different types based on their mint marks:
- No Mint Mark: These coins were struck at the Philadelphia Mint. The 1962 No Mint Mark coin had a mintage of 9,714,000 and is quite common among collectors.
- D Mint Mark: Struck at the Denver Mint, this variety had the highest mintage in 1962, with 35,473,281 coins produced. Despite its high mintage, it holds steady value in higher grades.
- S Mint Mark: No 1962 Franklin Half Dollars were struck at the San Francisco Mint, as it was closed for coin production at that time.
Features of the 1962 Franklin Half Dollar
Obverse
The obverse features Benjamin Franklin’s image, facing to the right. Inscribed on this side are the words “LIBERTY” at the top and “IN GOD WE TRUST” at the bottom, with the year “1962” to the right of Franklin.
Reverse
The reverse side of the coin depicts the Liberty Bell, with visible cracks and the small bald eagle perched beside it. The motto “E PLURIBUS UNUM” is also inscribed, along with “UNITED STATES OF AMERICA” and the coin’s denomination, “HALF DOLLAR.”
Edges
The coin’s edges are reeded, featuring 150 fine lines around the circumference.
Composition
The 1962 Franklin Half Dollar is made from 90% silver and 10% copper. It weighs 12.5 grams and has a diameter of 30.6 mm, with an actual silver weight of 0.3617 ounces.
Minting and Value Factors
The Franklin Half Dollar’s value is influenced by several factors, including the mintage, mint mark, and condition of the coin. Generally, higher-quality coins, especially those in uncirculated or gem uncirculated states, are more valuable. For example, a 1962 No Mint Mark Franklin Half Dollar in uncirculated condition can be worth $20, while one in Gem Uncirculated (MS65) condition can reach up to $80.
The 1962 Franklin Half Dollar’s highest recorded sale was for $5,463 in 2010 for a coin in MS61 grade.
1962 Proof Franklin Half Dollar Value
The 1962 Proof Franklin Half Dollar has the highest proof mintage of any year, with over 3.2 million coins produced. The standard proof is more common, with a typical value of around $32. However, coins with a cameo or deep cameo finish are rare and can sell for much higher prices. For example, a Proof 1962 Franklin Half Dollar without a cameo has been sold for over $765, while a deep cameo coin fetched $9,200 in an auction in 2008.
Rare Error Coins
- Bugs Bunny Error: Some 1962 Franklin Half Dollars feature an error where the imprint of the bald eagle appears on the obverse, near Franklin’s mouth, making it resemble a “buck tooth.” This error can add value, with one coin selling for $111 in 2022.
- Struck on a 25c Planchet: A rare error involves a Franklin Half Dollar being struck on a 25-cent planchet. Such coins are highly sought after and have been sold for up to $1,575 at auction.
- D-on-Bell Error: A less common error occurs when the “D” mint mark appears on the Liberty Bell. These coins are rare and can be worth as much as $1,899 due to their error and proof status.
Conclusion
The 1962 Franklin Half Dollar continues to be a popular coin for collectors, thanks to its historical significance and attractive design.
Whether you have a coin with no mint mark, a D mint mark, or a rare proof, understanding its grade and condition is essential to determining its value. Collectors should also be on the lookout for error coins, which can add significant value.
FAQs
What is the most valuable 1962 Franklin Half Dollar?
The most valuable 1962 Franklin Half Dollar is one that is in Gem Uncirculated (MS65) condition, particularly if it has a high-grade and unique features such as being a proof or error coin. A 1962 D Mint Mark MS65 coin sold for over $6,400 in 2014.
How can I tell if my 1962 Franklin Half Dollar is in uncirculated condition?
To determine if your coin is uncirculated, check for any signs of wear or damage. An uncirculated coin will show no visible signs of wear on the details, and the surface will retain its original luster, with minimal or no marks.
Why is there no “S” mint mark on the 1962 Franklin Half Dollar?
The San Francisco Mint did not produce any coins in 1962 because the mint was temporarily closed for production after 1955. It wasn’t until 1968 that the San Francisco Mint began striking coins again.
Are there any errors that make the 1962 Franklin Half Dollar more valuable?
Yes, certain error coins like the “Bugs Bunny” error or those struck on the wrong planchet, such as a 25-cent planchet, are considered rare and can significantly increase the coin’s value. These errors are highly sought after by collectors.