Franklin Half Dollar (1948–1963)
The Franklin half dollar is a short, approachable series: sixteen years, three mints and a complete set of 35 regular-issue coins with no great rarities. That makes it a popular first silver set, and the real challenge lies in condition, especially the lines across the bottom of the Liberty Bell.
This page covers the coin's history and design, how to grade it, the dates and designations that matter, and how Franklin halves trade on Changes Hands.
Quick facts
| Years | 1948–1963 |
|---|---|
| Designer | John R. Sinnock (completed by Gilroy Roberts) |
| Denomination | 50 cents |
| Composition | 90% silver, 10% copper (0.3617 troy oz silver) |
| Weight | 12.50 g |
| Diameter | 30.61 mm |
| Mints | Philadelphia (no mint mark), Denver (D), San Francisco (S); mint mark on the reverse above the bell beam |
| Edge | Reeded |
History: Benjamin Franklin on the half dollar
The Franklin half was championed by Nellie Tayloe Ross, Director of the Mint, an admirer of Benjamin Franklin. Chief Engraver John R. Sinnock prepared the design but died in 1947, and his successor Gilroy Roberts completed it. The coin replaced the Walking Liberty half in 1948.
Because the set is short and every coin is affordable in circulated grades, many collectors build it from worn coins first and then upgrade one date at a time. The difficulty climbs steeply in Mint State, and again for coins with Full Bell Lines.
The Commission of Fine Arts disliked the design. Its members thought the small eagle on the reverse, added because the law required an eagle on the half dollar, was too insignificant, and they objected to showing the bell's crack. The Treasury approved it anyway. After President Kennedy's assassination in November 1963, the half dollar was chosen to honor him, ending the Franklin series after only sixteen years.
The design
The obverse is a plain bust of Franklin with LIBERTY above and IN GOD WE TRUST below. Sinnock's initials, JRS, sit below the shoulder. The reverse shows the Liberty Bell, crack included, with the small eagle to its right and the mint mark above the beam from which the bell hangs.
How to grade a Franklin half
Wear shows first on Franklin's cheek, the hair at the back of the head and above the ear, and on the bell's lettering and the horizontal lines near its lip. Under the Changes Hands Grading Standard, the bands require, on both sides:
- Fine: hair curls at the back of the head partly separated, the bell's lettering legible, the crack outlined.
- Very Fine: distinct hair curls, clear lettering on the bell, at least half of the lower bell lines visible.
- Extremely Fine: wear only on the cheek, the hair above the ear and the bell's high points; lower bell lines nearly complete.
- About Uncirculated: trace friction only, with mint luster on at least half of each side.
Full Bell Lines
In uncirculated grades, PCGS and NGC add FBL (Full Bell Lines) to coins whose horizontal lines across the bottom of the bell are complete and unbroken. Many Franklins were struck too softly for that, and some dates are rare with full lines, so the designation can make a large difference to a coin's standing. A circulated coin cannot qualify, and Changes Hands never assigns FBL; candidates are referred for certification.
Problems to avoid
Proof Franklins were made from 1950 to 1963, and proofs removed from their packaging sometimes appear in circulated lots. Their mirror fields give them away, and they are excluded from the pools. Cleaning is common, as with any large silver coin. The 1949-S is occasionally faked by adding an S to a Philadelphia coin.
Uncirculated Franklins often carry heavy bag marks, because the coins were stored and shipped loose in bulk bags. Marks on Franklin's cheek or across the bell weigh more on eye appeal than the same marks in an open field, and a coin with few marks in those areas stands out at any grade.
Buying and selling Franklin halves on Changes Hands
Common dates (1950 to 1963, excluding 1953) trade in house-graded pools in Fine, Extremely Fine and About Uncirculated. The semi-key 1949-S trades in house Extremely Fine, and certified collectors can trade the first-year 1948 in PCGS MS65 Full Bell Lines. Coins in Good or below go to the cull bulk class.
Buyers pay no fees; sellers pay 3% plus a one-time grading fee, only when a coin sells. Learn how house grading works on the grading page.
Key dates
| Date | Why it matters |
|---|---|
| 1949-S | About 3.7 million struck. The semi-key of the series, especially in uncirculated condition. |
| 1948 and 1949 | The first-year Philadelphia coin and the lower-mintage 1949 issues are in steady demand, particularly with Full Bell Lines. |
| 1953 | A low-mintage Philadelphia date, excluded from the common pools. |
| 1955 and the 'Bugs Bunny' | A low-mintage, Philadelphia-only year. Some coins show a die clash that left marks resembling buck teeth at Franklin's lip, a popular die state excluded from pools. |
| Full Bell Lines | Some 1950s San Francisco dates are especially hard to find with complete bell lines. |
Franklin Half Dollar markets
- Franklin Half, Culls
- Franklin Half Dollar, Common dates 1950–1963 (excluding 1949 and 1953), Fine
- Franklin Half Dollar, Common dates 1950–1963 (excluding 1949 and 1953), Extremely Fine
- Franklin Half Dollar, Common dates 1950–1963 (excluding 1949 and 1953), About Uncirculated
- Franklin Half 1949-S, House Extremely Fine
- Franklin Half 1948, PCGS MS65FBL
Frequently asked questions
Are Franklin half dollars silver?
Yes. Every Franklin half is 90% silver and 10% copper, weighing 12.5 grams and containing about 0.3617 troy ounces of silver.
Which Franklin half dollars are valuable?
The 1949-S is the main semi-key, with the 1948, 1949, 1949-D and 1953 also in demand. In uncirculated grades, Full Bell Lines coins of some dates carry large premiums. Most circulated common dates trade close to their silver value. This is general information, not investment advice.
What does FBL mean on a Franklin half?
Full Bell Lines: a PCGS and NGC designation for uncirculated coins whose horizontal lines across the bottom of the Liberty Bell are complete. It indicates a strong strike, which was uncommon for many dates.
Why is there an eagle on the Franklin half dollar?
Federal law required an eagle on the reverse of the half dollar, so Sinnock placed a small one to the right of the Liberty Bell. Its small size was one of the Commission of Fine Arts' objections to the design.
Where is the mint mark on a Franklin half?
On the reverse, above the beam from which the Liberty Bell hangs. Philadelphia coins have no mint mark.