Rare Coin Gem
1. A Coin Born from Tragedy: Discussions about a commemorative coin began within hours of Kennedy’s assassination on November 22, 1963. Congress approved the necessary legislation in just over a month, bypassing the typical rule that a coin design could not be changed for 25 years.
2. Jackie Kennedy’s Choice: First Lady Jacqueline Kennedy selected the half dollar denomination, as she did not want her late husband to replace another president (such as George Washington on the quarter).
3. Rapid Design Process: To meet the urgent timeline, Mint Chief Engraver Gilroy Roberts and Assistant Engraver Frank Gasparro modified designs they had already created for Kennedy’s presidential inaugural medal. The entire design process took less than five weeks.
4. Public Frenzy and Hoarding: When the coin was first released to the public on March 24, 1964, banks were instantly cleared out due to immense public demand for a memento of the popular president. The public continued to hoard the coins, meaning very few actually circulated as currency.
5. The Last of its Kind: Due to rising silver prices and a national coin shortage, the 1964 half dollar was the last U.S. circulating coin to contain 90% silver. Subsequent issues from 1965-1970 contained only 40% silver, and those from 1971 onward had no silver at all (except for special collector editions).
6. The “Accented Hair” Variety: An early proof version of the coin featured a more detailed “accented” hairline. At Jacqueline Kennedy’s suggestion to soften the hair details, the design was modified for mass production, making the “Accented Hair” variety rare and highly sought after by collectors today.
7. Minting into the Next Year: Due to overwhelming demand, the U.S. Mint received special congressional approval to continue striking 1964-dated coins well into 1965.
8. Valuable Errors Exist: Despite the high mintage (over 429 million total), specific varieties and mint errors—such as “doubled die” details or the ultra-rare “SMS” (Special Mint Set) coins—can fetch thousands of dollars at auction.