Kennedy Half Dollar Series Guide: What’s It Worth?

The Kennedy half dollar (1964–date) is the coin most Americans have never spent: silver issues from 1964–1970 are worth well over face value, while later clad coins are face value unless they’re high-grade or special issues.

Series history

Authorized by Congress within months of President John F. Kennedy’s assassination in November 1963, the Kennedy half replaced the Franklin half dollar; production began in January 1964 (The Spruce Crafts; CoinWeek).
Gilroy Roberts’ portrait of Kennedy appears on the obverse, with Frank Gasparro’s heraldic eagle — adapted from the presidential seal — on the reverse (Wikipedia).
The 1964 issues were 90% silver, but rising silver prices forced a change: 1965–1970 halves are 40% silver clad, and silver was eliminated entirely starting in 1971 with a copper-nickel clad composition (Wikipedia; CoinWeek).
Both Philadelphia and Denver struck the 90% silver 1964 halves; the two mints’ issues are distinguished by the D mint mark on the reverse (Wikipedia).
Mint marks were suspended on all U.S. coins from 1965–1967 to discourage hoarding during the coin shortage (The Spruce Crafts).
Circulation releases effectively ended after 2001; from 2002 on, halves were sold only to collectors — until 2021, when the Mint resumed shipping halves to the Federal Reserve for circulation (Wikipedia; The Spruce Crafts).

Key dates

1964 Kennedy Half Dollar — the only 90% silver issue (12.5 g, 0.3617 oz silver); every circulated example is worth a multiple of face value for its metal alone (Wikipedia; FindBullionPrices).
1970-D — issued only in 1970 mint sets, never for circulation; the key regular-issue date of the clad era (Wikipedia).
1987-P and 1987-D — issued only in special collector sets, with none released for general circulation (Wikipedia).
1965–1970 40% silver issues — 11.5 g with 0.1479 oz of silver; worth over face value for metal content (FindBullionPrices).
Silver proofs — 90% silver proofs were struck for collector sets 1992–2018, switching to .999 fine silver in 2019 (Wikipedia).

What drives the premium

Silver content: 1964 (90%) and 1965–1970 (40%) halves trade on their melt value — the date is the fastest test, with 1964 at 12.5 g and 1965–1970 at 11.5 g (FindBullionPrices).
Low-mintage issues: the mint-set-only 1970-D and 1987-P/D carry collector premiums well above face (Wikipedia).
Grade: early clad halves (1971–1974) were struck at high speed and shipped in bulk, so gem Mint State examples are far scarcer than their huge mintages suggest — registry collectors compete hard for them (GreatCollections).
Silver proofs — 90% silver proofs were struck for collector sets 1992–2018, switching to .999 fine silver in 2019 (Wikipedia).

Specifications

Composition: 1964: 90% silver, 10% copper; 1965–1970: 40% silver clad; 1971–date: copper-nickel clad over pure copper core (Wikipedia; CoinWeek)
Weight: 1964: 12.5 g; 1965–1970: 11.5 g; 1971–date: 11.34 g (Wikipedia; CoinWeek)
Diameter: 30.6 mm (Wikipedia)
Edge: reeded (Wikipedia)
Designers: Gilroy Roberts (obverse), Frank Gasparro (reverse) (Wikipedia; CoinWeek)
Years: 1964–date (Wikipedia)
Mint marks: P, D, S (above the date on the obverse; 1964 issues on the reverse); none 1965–1967 (Wikipedia)

Collector notes

Check every pre-1971 half you find: anything dated 1964–1970 contains silver, and 1964-dated coins were even struck into 1965–66 under a Congressional date freeze (The Spruce Crafts; FindBullionPrices).
The edge is a quick field test: 1964 halves show a solid silver edge, while 1971-and-later halves show the copper core of the clad sandwich (Wikipedia).
Most 1971-and-later halves found in change are worth face value — the exceptions are high-grade Mint State pieces and the 1987 and 2002+ collector-only issues.
1970 mint sets are the only source of the 1970-D — no circulation strikes were made that year (Wikipedia).