Walking Liberty Half Dollar (1916–1947)
Adolph Weinman's Walking Liberty half dollar is often called the most beautiful American silver coin, and its obverse was considered good enough to revive seventy years later on the American Silver Eagle. It is a large, 90% silver coin with a broad range of dates, from rare early issues to plentiful wartime coins.
Here is the coin's history, how to grade it by the skirt lines and the hand, which dates matter, and how Walking Liberty halves trade on Changes Hands.
Quick facts
| Years | 1916–1947 (not struck in 1922, 1924–1926 or 1930–1932) |
|---|---|
| Designer | Adolph A. Weinman |
| 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 obverse below IN GOD WE TRUST in 1916 and on some 1917 coins, then on the reverse at lower left |
| Edge | Reeded |
History and design
The half dollar was redesigned in 1916 along with the dime and quarter, and Weinman won both the dime and the half. His obverse shows Liberty striding toward the rising sun, draped in a flag, one arm outstretched and the other carrying branches of laurel and oak. The reverse shows an eagle with raised wings perched on a mountain crag, with a young pine growing from the rock beside it.
Production was uneven. Low demand during the 1920s and the early Depression left gaps: no halves were struck in 1922, from 1924 to 1926, or from 1930 to 1932, and some years only one branch mint struck them. Output rose sharply in the late 1930s and through World War II, which is why the 1940s dates are so common today. The Franklin half replaced the design in 1948.
How to grade a Walking Liberty half
Wear begins on Liberty's head, her left hand and the branches, her breast and left leg, and on the eagle's breast, legs and wing tops. The skirt lines that run down across the left leg are the most useful single diagnostic. Under the Changes Hands Grading Standard, a coin must meet each band on both sides:
- Good: date and mint mark readable, Liberty and the eagle outlined. No skirt lines are required.
- Very Good: IN GOD WE TRUST fully readable, a few skirt lines visible, the hand and branches outlined.
- Fine: at least half the skirt lines, distinct leaves on the branch, partial sun rays, about half the eagle's wing feathers.
- Very Fine: all skirt lines visible, including those across the left leg, with some finger and leaf detail.
- Extremely Fine: complete, bold skirt lines and wear only on the head, breast, hand and knee.
Strike: the head and the hand
Many Walking Liberty halves were struck with a flat head and a weak hand, especially the Denver and San Francisco coins of the 1940s and most 1920s issues. A flat area that still has unbroken luster is a strike weakness, not wear. A full head and well-defined fingers on an uncirculated coin is a mark of quality that collectors look for and that can add meaningfully to a coin's appeal.
Fakes and problems
Die-struck counterfeits of both key and common dates are widespread, so weight, diameter and a metal test matter on every coin, not just the rare ones. Mint marks are added to Philadelphia coins to imitate the 1916-S, 1917-S, 1921-D and 1938-D. Large silver coins also show cleaning clearly: look for unnaturally bright surfaces on a worn coin and fine parallel hairlines in the fields beside Liberty.
Buying and selling Walking Liberty halves on Changes Hands
Dates from 1940 to 1947 trade in house-graded pools from Good and Fine up to Extremely Fine and About Uncirculated. Keys have their own books, including the 1921 in house Good, the 1921-D in house Good and the 1938-D in house Fine, and there is a certified 1943 PCGS MS65 book for uncirculated buyers. Heavily worn coins with weak dates go to the cull bulk class.
Buyers pay no fees; sellers pay 3% plus a one-time grading fee when the coin sells. Coins stay in insured custody, and shipping home is available at $35 per shipment plus $3 per coin. See the fee schedule.
Key dates
| Date | Why it matters |
|---|---|
| 1921 and 1921-D | The two great keys: 246,000 and 208,000 struck. Scarce in every grade and a target for altered dates and added mint marks. |
| 1921-S | More available in worn grades than the other two 1921 issues, but a major rarity in uncirculated condition. |
| 1916-S and 1917-S obverse mint mark | Early issues with the mint mark below IN GOD WE TRUST, scarce in all grades. |
| 1919-D, 1919-S and 1920-D | Semi-keys that are difficult in Very Fine and better and rare uncirculated. |
| 1938-D | 491,600 struck, the lowest mintage of the later dates. Often saved, so it is more available than the 1921s. |
| 1946 Doubled Die Reverse | A popular variety with doubling visible on the reverse; excluded from pools. |
Walking Liberty Half Dollar markets
- Walking Liberty Half, Culls
- Walking Liberty Half Dollar, Common dates 1940–1947, Good
- Walking Liberty Half Dollar, Common dates 1940–1947, Fine
- Walking Liberty Half Dollar, Common dates 1940–1947, Very Fine
- Walking Liberty Half Dollar, Common dates 1940–1947, Extremely Fine
- Walking Liberty Half Dollar, Common dates 1940–1947, About Uncirculated
- Walking Liberty Half 1921, House Good
- Walking Liberty Half 1921-D, House Good
- Walking Liberty Half 1938-D, House Fine
- Walking Liberty Half 1943, PCGS MS65
Frequently asked questions
How much silver is in a Walking Liberty half dollar?
Each coin is 90% silver and 10% copper and contains about 0.3617 troy ounces of silver in a 12.5-gram coin. Even the most worn genuine examples keep that silver content.
What are the key dates for Walking Liberty half dollars?
The 1921, 1921-D and 1921-S lead the list, followed by the 1916-S, the 1917-S with obverse mint mark, the 1919-D, 1919-S and 1920-D, and the 1938-D. Most 1940s dates are common.
Where is the mint mark on a Walking Liberty half?
In 1916 and on some 1917 coins, on the obverse below IN GOD WE TRUST. From 1917 onward, on the reverse at the lower left, near the rim below the pine branch. Philadelphia coins have no mint mark.
How can you tell if a Walking Liberty half is worth more than its silver?
Check for a key or semi-key date and mint, then the grade: complete skirt lines and a strong head and hand point to higher grades, where premiums grow. Problem-free, original surfaces matter a great deal. This is general information, not investment advice.
Is the Silver Eagle the same design as the Walking Liberty half?
The obverse is. The American Silver Eagle, introduced in 1986, uses Weinman's Walking Liberty design on a larger one-ounce coin of .999 fine silver.