By Charles Morgan and Hubert Walker for CoinWeek Notes …..
The Philadelphia Mint struck 15,646,000 Kennedy half dollars in 1998. A typical year for a denomination that didn’t see much in the way of circulation but was still being struck in quantity, in the event that new halves were needed from the Federal Reserve. Most collectors, however, would acquire their 1998-P half dollars from that year’s uncirculated coin sets.
With the introduction of the 50 State Quarter Program in 1999, the Kennedy half dollar would lost its status as the centerpiece of Mint Sets. Because it was the only coin unlikely to be found in circulation, half dollars had drawn collectors to Mint Sets since the product’s reintroduction in 1984 (in the ’70s and early ’80s, dollar coins were included in Mint Sets and the sets were not issued in 1982 and 1983). With new circulating commemorative quarters, collectors had more than the half dollar to consider; those unable to find each of the five business-strike quarters from both the Philadelphia and Denver Mint facilities in circulation, or simply interested in having an example of each in Mint State, could get all the needed quarters from Mint Sets.
The Mint stopped striking the half dollar denomination for circulation entirely in 2002 (though it resumed starting in 2021), making them only available at a slight premium, in Mint Sets, or in rolls and bags. Still, the Mint’s primary focus centered around its other coin programs.
How Much Is the 1998-P Kennedy Half Dollar Worth?
Even though 15 million 1998-P half dollars were struck, the coin is not typically found in circulated grades or in circulation at all. No reports of circulation find 1998-P Kennedy halves occurred within the first six months of the year.
Perhaps a few million examples of the issue survive in Mint State. The majority of the issue that remain in an uncirculated condition are what we call “raw” coins. That is, uncertified.
Because the issue isn’t particularly valuable, the financial incentive to have an example certified is not particularly high. To date, just over 700 examples have passed through PCGS and NGC.
Presently, the 1998-P Kennedy Half Dollars is scarce in MS68. PCGS records 459 grading events of 1998-P Kennedy half dollars, only six of which it gave MS68 grades. NGC records 377 grading events; 3 received a Prooflike designation. 15 of those grading events were MS68.
Neither the Cherrypickers’ Guide to Rare Die Varieties of United States Coins nor Variety Vista lists any varieties of 1998-P Kennedy half dollars.
1998-P Kennedy half dollars are generally affordable. Recent auction results suggest that in MS66 the coins range in value from $9 to $15, in MS67 from $20 to $60. MS68 examples rarely cross the auction block, but interested collectors should be ready to pay quite a bit more. An example in an NGC slab sold on eBay for $1,500 in 2022. At the same time, another was available on the same platform for $999. GreatCollections sold one in 2018 for $421.88. Going way back, an example certified by PCGS crossed the auction block for $92.65 in November 1998.
The record auction price for a 1998-P Kennedy half dollar, $1,000, was realized on March 14, 2006 in an American Numismatic Rarities auction for an example graded MS-66 by PCGS.
Collectors interested in adding an example of the 1998-P Kennedy half dollar to their sets can find nice-looking uncirculated examples raw or certified in grades up to MS-67 easily and for less than $50.
Struck on the eve of the 50 State Quarters program that would to some extent supplant it (at least in Mint Sets), the 1998-P Kennedy half dollar is an accessible, affordable issue necessary for those putting together a date set of Kennedy halves and might be appealing to those collectors interested in the modern history of Mint products.
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Market Data and Noteworthy Specimens
The PCGS MS68 population has remained at 6 since at least 2008.
Top Population: PCGS MS68 (6, 10/2024), NGC MS68 (15, 10/2024), and CAC None Graded (10/2024).
- NGC MS68 #5849713-016: eBay, January 2022 – $1,500.
- NGC MS68 #3101440-034: GreatCollections, May 13, 2018, Lot 576950 – $421.88.
- NGC MS67 #6308827-033: eBay, September 1, 2024 – $13.50.
- PCGS MS67 #45311891: eBay, August 6, 2024 – $42.
- NGC MS67 #6308827-035: eBay, July 22, 2024 – $38.99.
- PCGS MS67 #13842779: Heritage Auctions, September 25, 2016, Lot 27245 – $45.
- PCGS MS67 #21472172: Heritage Auctions, September 30, 2008, Lot 26290 – $23.
- PCGS MS67 #40038960: Heritage Auctions, November 23, 2004, Lot 11553 – $24.
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Design
Obverse:
The central motif is an effigy of the 35th President of the United States, the late John Fitzgerald Kennedy. A war hero and (at the time) the youngest person ever to serve as president, Kennedy was inaugurated on January 20, 1961, and assassinated on November 22, 1963. The nation’s grief was such that Congress and the Mint rushed through a design change on the half dollar denomination to commemorate him.
Atop the upper half of the rim is the inscription LIBERTY, with Kennedy’s hair covering the bottom portions of the letters “B”, “E”, and “R”. The date 1998 is cradled at the bottom of the coin, while the national motto IN GOD WE TRUST is inscribed in a straight line above the year but divided by the sharp truncation of Kennedy’s neck.
Gilroy Roberts’ initials are on the truncation line of Kennedy’s bust, above WE on the bottom right side of the coin.
The P mintmark of the Philadelphia Mint is located above the gap between the two 9s of the date.
Reverse:
Roberts’ assistant, Frank Gasparro, designed the reverse. He based the eagle on the Presidential Coat of Arms from the Seal of the President of the United States, which is based on the Great Seal of the United States. The Presidential Seal in its current form was finalized by President Harry S. Truman in 1945, though the number of stars on the seal (and hence the coin) went from 48 to 50 as Alaska and Hawaii entered the Union.
The heraldic eagle’s wings and legs are spread in four directions. The left talon (viewer’s right) holds arrows, a symbol of war, while the right claw (viewer’s left) grips an olive branch, a symbol of peace. It is tradition for the eagle to face one side or the other relative to national circumstances at the time of striking; in this instance, the eagle faces towards the olive branch despite America’s involvement in Vietnam and other conflicts around the world.
Frank Gasparro’s initials FG are between the eagle’s left leg and tail feathers.
A Union shield covers the eagle’s breast. Vertical bars representing the 13 red and white stripes of the American flag run down most of its face, representing the original 13 colonies of the United States. The top of the shield (a horizontal band is otherwise known in heraldry as a chief) features no stars.
Immediately above the eagle’s head is a scroll featuring the motto E PLURIBUS UNUM. The design behind and above the eagle, which consists of 15 rays, nine stars, and a mass of clouds, is called the glory and is a common design element of both heraldry and an earlier period of numismatics.
The legend UNITED STATES OF AMERICA runs clockwise along the top rim of the reverse, while the denomination HALF DOLLAR runs counterclockwise along the bottom. Dots are between the two inscriptions at both ends. Surrounding the eagle is a ring of 50 stars, representing the 50 states of the Union at the time of the coin’s production.
Edge:
The edge of the 1998-P Kennedy half dollar is reeded.
Designers
Gilroy Roberts was the ninth Chief Engraver of the U.S. Mint, serving from July 22, 1948, to February 11, 1965. His work with the Franklin Mint caused the United States Mint to let him go. Roberts is best remembered for his design of the Kennedy Half Dollar obverse.
Frank Gasparro was an American medalist and coin designer. After serving as Gilroy Roberts’s assistant engraver, he became the 10th Chief Engraver of the United States Mint, serving from 1965 to 1981. Besides the Kennedy Half Dollar reverse, Gasparro also designed the Lincoln Cent Memorial reverse, the Eisenhower Dollar obverse and regular reverse, and the Susan B. Anthony Dollar. (View Designer’s Profile).
1998-P Kennedy Half Dollar Specifications
| Country: | United States of America |
| Year of Issue: | 1998 |
| Denomination: | Half Dollar (50 Cents USD) |
| Mintmark: | P (Philadelphia) |
| Mintage: | 15,646,000 |
| Alloy: | .750 Copper, .250 Nickel |
| Weight: | 11.34 g |
| Diameter: | 30.60 mm |
| Edge: | Reeded |
| OBV Designer: | Gilroy Roberts |
| REV Designer: | Frank Gasparro |
| Quality: | Business Strike |
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