The Kennedy half dollar, first minted in 1964, is a fifty-cent coin issued by the United States Mint. Intended as a memorial to the assassinated 35th president of the United States John F. Kennedy, it was authorized by Congress just over a month after his death. Use of existing works by Mint sculptors Gilroy Roberts and Frank Gasparro allowed dies to be prepared quickly, and striking of the new coins began in January 1964.
The silver coins were hoarded upon their release in March 1964 by collectors and those interested in a memento of the late president. Although the Mint greatly increased production, the denomination was seldom seen in circulation. Continued rises in the price of silver increased the hoarding—many early Kennedy half dollars have been melted for their silver content. Starting with 1965-dated coins, the percentage of fine silver was reduced from 90% to 40% (silver clad), but even with this change the coin saw little circulation.
In 1971, silver was eliminated entirely from the half dollar. Though production increased, the clad coin saw only a moderate increase in usage; by the end of the decade the half had gradually become uncommon in circulation. A special design for the reverse of the half dollar was issued for the United States Bicentennial and was struck in 1975 and 1976. In addition to business strikes, special collector coins were struck for the Bicentennial in silver clad; silver proof sets in which the dime, quarter and half dollar were struck in 90% silver were first minted in 1992. In 2014, a special 50th anniversary edition of the Kennedy half dollar was also struck in 99.99% gold.
Even though ample supplies of circulating half dollars are readily available from most banks, their circulation is still limited. Production of Kennedy half dollars for general circulation ended in 2001; from 2002 to 2020, Kennedy halves were produced to satisfy the demand from collectors and sold at a premium through the Mint. In 2021, the mint resumed striking Kennedy half dollars for general circulation.
Inception
Within hours of the assassination of John F. Kennedy on November 22, 1963, Mint Director Eva Adams called Chief Engraver Gilroy Roberts, informing him that serious consideration was already being given to depicting Kennedy on one of the larger silver coins: either the silver dollar, half dollar, or quarter dollar. Adams called Roberts again on November 27 and authorized the project, stating that the late president's widow, Jacqueline Kennedy preferred that he be depicted on the half dollar, replacing the previous design of Benjamin Franklin. Mrs. Kennedy's reasoning was that she did not want to replace George Washington on the quarter.
In the interest of time (the striking of the new coin was to begin in January 1964), Roberts modified the existing bust of Kennedy he had created for use on the Kennedy medal in the Mint's Presidential series, while Frank Gasparro began modifications to the reverse he had created for the same medal. Both Roberts' and Gasparro's designs had been approved by Kennedy. Roberts had met with Kennedy in person to show him early models of the design; although the President expressed no opinion regarding the depiction, Roberts decided to make some changes after meeting him. After the Mint produced trial strikes, Jacqueline and Robert F. Kennedy were invited to view them. Mrs. Kennedy viewed the designs favorably, but suggested that the hair be altered slightly. It was also suggested that a full or half figure of the president be used instead of the profile, but Roberts noted that there was not enough time to produce an entirely new design because of the project's time constraints, and also that he believed the left profile would give a more attractive appearance.
Frank Gasparro's reverse design of the Kennedy half dollar was also influenced by the experience he gained from designing the President John. F. Kennedy appreciation medal. In 1962, President Kennedy had three hundred appreciation medals struck by the United States Mint in Philadelphia that were later presented during his June 23, 1963 through July 2, 1963 trip to the nations of Federal Republic of Germany, Germany (West Berlin), Ireland, United Kingdom, Italy, and the Vatican City State. The reverse design of the Kennedy appreciation medal depicts a larger and more detailed Presidential Seal than the one he designed on the Mint's Presidential series (Bureau of the Mint Presidential series stock medal #135 known as the John F. Kennedy Presidential inauguration medal). Gasparro's placement of his initials FG is also similarly located (under the right leg of the eagle) on both the Kennedy appreciation medal and Kennedy half dollar.