The Kennedy half dollar is by far and away one of the (if not THE) greatest coins in United States coinage. Still in production today, the coins act as a north star for the standard of American coinage as far as design and context. They even acted as a saving grace during a strenuous time at the United States Mint. In today’s blog series following along with Whitman Publishing’s 100 Greatest Modern United States Coins, we look at a Kennedy half dollar from a set that gave the Mint a positive push forward in how they approached sales. Authors Jeff Garrett and Scott Schechter help us navigate the fourth edition.
#23 – 1998-S Kennedy Half Dollar, Silver, Matte Finish
The late 1990s proved to be a difficult time for the United States Mint. They were coming off the increased drive for commemorative coins and the pressure to boost sales. The 1994 and 1996 commemorative coins did not do well, and while today’s viewpoint looks to low mintages of those coins as collecting perks driving demand, back then it was not a good look. Millions of dollars were lost by the Mint, and they were looking for new ways to push sales. One of the things they tried specifically was the pairing of special edition circulating coins with other Mint products, which led to the 1998-S Silver Kennedy Half Dollar in a Matte finish which was only available from a commemorative set.
In 1998, the silver Kennedy half dollar from the San Francisco Mint was sold in a “Brother’s Set.” The commemorative silver dollar inside featured the image of Robert F. Kennedy. To match the Uncirculated finish of the silver dollar, the Mint decided to give the Kennedy half dollar the same finish, which was the first time it had ever been used since its start in 1964. The 1998-S half dollar from the set was also struck in 90% silver, which once again had not been done since the first year of issue or for any coin that did not come from a Silver Proof set (started in 1992).
Another element making this coin (and the set it came in) different than years past was that it was offered for sale during a six-week period. This allowed the Mint to strike coins based on exactly how many had sold instead of limiting the sets or overstriking coins. The 1998 commemorative program was successful, but it did not hurt that the celebration of the Kennedy brothers was on the coins as well, highlighting the significance of their relationship and the impact they had on the nation.
The coin in a SP69 from NGC today ranges in retail from $75-150. In SP70, the coin jumps to around $450.
Since the first edition, this entry has only moved down one spot from #22.