Kennedy Half Dollar Sparked Interest in Numismatics

Public reaction to the assassination of President John F. Kennedy on Nov. 22, 1963, led to a massive surge in the number of coin collectors. One of the ways that the nation commemorated his death was the replacement of the Benjamin Franklin half dollar with a new one featuring Kennedy.

Within a month of Kennedy’s death, Congress passed, and President Johnson signed a bill into law for the new half dollar. Mint sculptors Gilroy Robers and Frank Gasparro had already done work on designs, which led to the quick preparation of master dies. The first coins were offered to the public on March 24, 1964. This may be a record for the shortest time, at least in recent decades, between the introduction of legislation in Congress and the resulting coins being released to the public.

I remember when the first 1964 Kennedy half dollars reached the banks in the town where I lived at the time. It seemed like everyone who had obtained one was asking everyone else if they had seen it. If not, the owner would promptly show it off. Rather than entering everyday commerce, an extremely high percentage of the earliest pieces were hoarded by numismatists and non-numismatists alike. In fact, Kennedy half dollars have seen little circulation ever since.

The introduction of the Kennedy half dollar coincided with a rise in the price of silver, which led the U.S. Mint to cease issuing 90 percent silver dimes, quarters, and half dollars beyond those dated 1964 (some of which were struck in 1965 and maybe even in 1966).

Between the appearance of Kennedy halves and the disappearance of silver from circulating U.S. coins, 1964 saw a major surge in the number of people beginning to collect coins (which included me). This magnitude of new interest in numismatics was not matched until the introduction of the Statehood Quarter series in 1999.

Last week, I asked: Which signer on U.S. government paper money had previously become the second African American to serve in the United States Senate?

The answer is Blanche Kelso Bruce (born Branch Bruce). Born into slavery, Bruce was elected by the Mississippi legislature to serve as a U.S. Senator from 1875 to 1881. He served as the United States Register of the Treasury from May 21, 1881, to June 5, 1885. In this position, his signature of B.K. Bruce appeared on U.S. paper money of the era.

Who was the first married couple to appear on the same issue of U.S. currency? Come back next week for the answer.

Patrick A. Heller was honored as a 2019 FUN Numismatic Ambassador. He is also the recipient of the American Numismatic Association 2018 Glenn Smedley Memorial Service Award, 2017 Exemplary Service Award, 2012 Harry Forman National Dealer of the Year Award, and 2008 Presidential Award. Over the years, he has also been honored by the Numismatic Literary Guild (including twice in 2020), the Professional Numismatists Guild, the Industry Council for Tangible Assets, and the Michigan State Numismatic Society. He is the communications officer of Liberty Coin Service in Lansing, Mich., and writes “Liberty’s Outlook,” a monthly newsletter on rare coins and precious metals subjects. Past newsletter issues can be viewed at www.libertycoinservice.com. Some of his radio commentaries titled “Things You ‘Know’ That Just Aren’t So” and “Important News You Need To Know” can be heard at 8:45 a.m. Wednesday and Friday mornings on 1320-AM WILS in Lansing (which streams live and becomes part of the audio archives posted at www.1320wils.com).