1923-S Walking Liberty Half Dollar 50C NGC MS64 (CAC)

This coin is presently on its way back from CAC. The obverse image with the sticker will be updated then.

How do we describe this piece? Dramatic, attractive, well-struck, and rare. And it’s perfect for the specialist in Walking Liberty half dollars. NGC has graded 81 as MS64 with 31 finer. Collector’s Universe prices this issue at $9,750.00 in MS64. In CAC, there are 21 in MS64 with 16 finer. CAC gives this issue a price of $10,500.00 in MS64.

David Hall writes, “There were only three issues of this series struck between 1921 and 1929...the 1923-S, 1927-S, and 1928-S. … The 1923-S is somewhat rarer than the other two in higher circulated grades. It is definitely the rarest of the three in mint state and Gem mint state condition.”

“This is the first issue in the Walking Liberty half dollar series in which strike can be a definite problem. … It is not unusual to find mint state 1923-S half dollars that are very weakly struck on Ms. Liberty's hand and the central devices on the reverse. Examples that are relatively sharply struck are hard to find and well worth the premium price they often bring.”

This dramatic offering from AU Capital Management has that “relatively sharp strike” that is “hard to find.” Pleases take a careful look at the photos provided.

The high mintages of 1917-20 and the depression of 1920-21 delayed further half dollar mintage until late in 1923. Only the San Francisco Mint produced this denomination, and the 2,178,000 pieces struck in 1923 were enough to satisfy demand for half dollars through 1926. 

The Old San Francisco Mint, where this piece was struck in 1923. Photo: Wikimedia Commons.