By Charles Morgan and Hubert Walker for CoinWeek Notes …..
The 1976-S Bicentennial Kennedy Half Greenback Clad Proof is certainly one of 5 1976 Bicentennial Half {Dollars} the United States Mint struck in 1975 and ’76 as a part of the official celebration of the nation’s 2 hundredth birthday. Different half {dollars} that includes Seth G. Huntington’s “Independence Corridor” reverse and the 1776-1976 twin date are the 1976 (Philadelphia) and 1976-D (Denver) cash struck for circulation, and the 1976-S silver-clad Proof and Uncirculated cash offered as a part of particular Bicentennial three-coin Proof and Uncirculated units.
The story of the 1776-1976 circulating commemorative coinage begins in 1970 when the American Revolution Bicentennial Fee’s Cash and Medals Advisory Panel advocated for the manufacturing of circulating commemorative cash to mark the nation’s 2 hundredth birthday. The Treasury Division was cool on the concept at first, following a coverage that it had set after the multitudinous commemorative coin releases of the Nineteen Thirties, a lot of which went unsold and had been returned to the Mint for melting.
The numismatic group, led by distinguished figures within the American Numismatic Affiliation (ANA), strongly advocated for particular cash, together with the issuance of particular gold cash; the United States had not issued authorized tender gold cash since 1933.
In November 1972, the Treasury Division agreed so as to add the date 1776 to 1976’s coinage however wouldn’t change the design of its circulating coinage to commemorate the Bicentennial.
Within the face of this opposition, collectors lobbied Congress to authorize commemorative designs. Right here they succeeded, and on October 18, 1973, two days earlier than President Richard M. Nixon doomed his Presidency with the “Saturday Night time Bloodbath”, Senate Invoice 1141 was signed into legislation as Public Law 93-127 (PDF link). The legislation required that the Mint change the designs and inscriptions of the Washington Quarter, the Kennedy Half Greenback, and the Eisenhower Greenback and strike cash with designs “emblematic of the Bicentennial of the American Revolution.”
On December 26, 1974, the legislation was amended to permit the minting of silver-clad Bicentennial coinage for the collector market.
To find out the designs of the nation’s Bicentennial coinage, the Treasury Division held a design competitors beginning on October 23, 1973. 5 judges had been appointed to pick winners from a nationwide competitors. Every winner obtained $5,000 USD for his or her successful entries. The general public received their first view of the brand new coin designs on March 7, 1974, when Mint Director Mary Brooks appeared on NBC’s In the present day present to unveil the successful designs.
The Kennedy Bicentennial Design Honors Independence Corridor
Seth Huntington’s design for the Kennedy Half Greenback incorporates a head-on view of the rear facade of Independence Corridor in Philadelphia and its bell tower.
Independence Corridor is a Georgian-style brick construction constructed to function the Pennsylvania State Home, designed by architect Edmund Woolley. Building started in 1732, the yr of George Washington’s delivery, and concluded in 1753.
In the course of the Revolutionary interval, Independence Corridor served as a gathering place for the Second Continental Congress. It was right here that Washington was named commander-in-chief of the Continental Military on June 14, 1775, and the Declaration of Independence was signed on July 4, 1776. The signing of this landmark doc marked the founding of the US of America. The USA Congress beneath the Articles of Confederation met in Independence Corridor from 1781 to the summer season of 1783, when some 400 Continental Military troopers launched a mutiny over unpaid wages for his or her service throughout the American Revolutionary Struggle.
Washington mobilized troops to place down the mutiny, simply as he would once more 4 years later when Continental Military Captain Daniel Shays impressed an rebellion over unpaid wages and unfair debt assortment.
Following Shays’ Revolt, Congress met once more to strengthen the Articles of Confederation. As an alternative, it put ahead a totally rewritten Structure. The doc was written in secret within the meeting room of Independence Corridor from June to September 1787. Philadelphia remained the capital of the US, as the federal government deliberate to maneuver the capital to Washington, D.C. upon its completion.
The Bell Tower at Independence Corridor held the well-known Liberty Bell, which was commissioned by the Pennsylvania Provincial Meeting in 1752 and cracked shortly after its arrival. Twice repoured, the bell cracked once more after practically a century of use. The Liberty Bell and the Moon function in Dennis R. Williams’ Bicentennial Eisenhower Greenback design.
How the 1976-S Kennedy Half Greenback Clad Proof Was Offered
The 1976-S Kennedy Hald Greenback Clad Proof was offered as a part of the 1975 and 1976 United States Mint Proof Units.
1975 and 1976 Proof Units embrace one Proof instance of every coin the US Mint struck that yr. The units had been packaged in a hinged arduous plastic shell that match right into a black paper sleeve or envelope.
With the thrill surrounding the brand new designs, the Bicentennial cash proved wildly well-liked, and the Mint reported gross sales of two,845,450 Proof Units in 1975 and 4,149,730 Proof Units in 1976. Each the 1975 and 1976 Proof Units included every of the three Bicentennial cash carrying the twin date 1776-1976. Every set contained a face worth of $1.91 in cash and had a problem worth of $7.00 ($38.42 in 2024 inflation-adjusted {dollars}).
Forty-percent-silver variations of the Bicentennial Greenback, Half Greenback, and Quarter in Proof and uncirculated had been provided individually in a three-coin set.
As for the Clad Proof Units, these stay widespread regardless of being practically 50 years previous and commerce every single day on websites like eBay for about $10 to $15 every. Some cash have been cracked out over time and positioned into circulation, the place they lose their meant pristine end. Impaired Proofs are price little over their 50¢ face worth. Different cash are cracked out of their holders and submitted to main grading providers for encapsulation.
Have We Reached Backside? A Predictable Situation Rarity Disaster
From a excessive water mark of $5,175 to frequent eBay public sale appearances, the story of the market decline of the 1976-S Kennedy Half Greenback Clad Proof was simply predictable and may function a cautionary story for collectors misinterpreting trendy coin licensed populations and the way incorrect inferences usually result in main losses.
When Heritage Auctions offered the Kallenberg #1 PCGS Registry Set of Proof Half {Dollars}, the cataloger famous two issues in regards to the 1976-S Kennedy Half Dollar Clad Proof that stood in stark distinction:
The Bicentennial design Kennedy half is probably going among the many commonest cash of the late twentieth century. Almost each accumulation of cash provided on the market by hoarders comprises instance after instance of dual-dated 1776-1976 half {dollars}, a mixture of the beloved Kennedy design with the festivities surrounding the celebration of two centuries of independence for the US.
and…
Regardless of the manufacturing (or due to the manufacturing) of greater than 8 million 1976-S clad and silver proof units, nevertheless, proofs attaining the right PR70 grade are seldom seen.
On the time of the January 2008 sale, PCGS had licensed solely 16 cash on the “good” PR70DCAM grade. Seldom seen in PR70DCAM could have been true on the time, however the worth of 1975 and 1976 Proof Units and the power of collectors and sellers to amass units in bulk meant that the upfront prices of placing collectively bulk submissions of the coin had been fairly low.
What transpired over the following 10 years is a cautionary story.
By 2013, the inhabitants of PCGS PR70DCAM Clad Bicentennial half {dollars} had doubled (most of those new cash having been licensed in 2011 and 2012), and public sale costs had fallen by $1,300. The inhabitants reached 50 by early 2015, 70 by mid-2015, and 80 by the top of that yr. Throughout these 12 months, the worth of the 1976-S Kennedy Half Greenback Proof fell by greater than 50%. Cash had been now promoting for about $1,600 every.
In 2016, the inhabitants reached over 100 cash and has continued to climb steadily. On the time of this writing, greater than 420 cash have been licensed PR70DCAM and examples promote on eBay for simply over $400.
The NGC inhabitants, against this, sits at only one in Proof 70 Extremely Cameo. We don’t perceive why such an enormous discrepancy exists between the 2 grading providers on the standards essential to earn a “good” 70. We couldn’t find an public sale look of the NGC coin and strongly advise towards contemplating this coin to be someway higher or extra stringently graded than comparable cash from PCGS or CACG. We additionally strongly advise towards inferring that many extra cash received’t, at some future level, be added to the rolls.
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Market Knowledge and Noteworthy Specimens
Prime Inhabitants: PCGS PR70DCAM (432, 1/2025), NGC PF70UCAM (1, 1/2025), and CAC PR68 (2, 1/2025).
- PCGS PR70DCAM #45619453: eBay, June 17, 2024 – $495.
- PCGS PR70DCAM #31382044: eBay, April 24, 2024 – $434.
- PCGS PR70DCAM #31372044: eBay, April 21, 2024 – $460.
- PCGS PR70DCAM #7732288: Goldberg Auctioneers, Might 27, 2003, Lot 1704 – $2,588. Pop 10 when provided; “The Kallenberg #1 PCGS Registry Set of Proof Half {Dollars},” Heritage Auctions, January 10, 2008, Lot 2246 – $5,175. Pop 16 when provided; Heritage Auctions, January 8, 2017, Lot 9996 – $1,057.50. Pop 106 when provided.
- PCGS PR70DCAM #72405586: “The J.S Hamilton Registry Set of Proof Kennedy Half {Dollars},” Heritage Auctions, April 28, 2006, Lot 3176 – $4,312.50. Pop 16 when provided; Heritage Auctions, September 14, 2014, Lot 4281 – $3,055. Pop 39 when provided.
- PCGS PR70DCAM #72842608: Heritage Auctions, June 1, 2012, Lot 4192 – $2,300. Pop 32 when provided; “The GeoHan II PCGS Registry Set,” Heritage Auctions, July 12, 2013, Lot 4169 – $3,818.75. Pop 32 when provided.
- PCGS PR70DCAM #7657573: “The Basque Man #1 All-Time PCGS Registry Set,” Heritage Auctions, February 3, 2011, Lot 3856 – $3,737.50. Outdated Inexperienced Holder. Goldenrod firming. Pop 17 when provided. Heritage Auctions, August 14, 2015, lot 5293 – $2,232.50. Pop 70 when provided.
Design
Obverse:
The obverse of all Kennedy Half {Dollars} was designed by Gilroy Roberts, Chief Engraver of the US Mint from July 22, 1948, to February 11, 1965. Roberts additionally designed Kennedy’s inaugural medal, which served as the idea of the coin’s design.
The central motif is a portrait of the thirty fifth President of the US, the late President John Fitzgerald Kennedy. A battle hero and the youngest president in American historical past on the time, 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 by way of a design change on the half greenback denomination to commemorate the bereaved president.
Atop the higher half of the rim is the phrase LIBERTY, with Kennedy’s hair masking the underside parts of the letters “B”, “E” and “R”. The twin date 1776 * 1976 is cradled on the backside of the coin, with the numeral “1” of “1776” positioned beneath the “G” in “GOD” and the “6” in “1976” situated beneath the “R” in “TRUST”. The nationwide motto IN GOD WE TRUST is inscribed in a straight line above the yr however divided by the sharp truncation of Kennedy’s neck. The S mintmark of the San Francisco Mint is discovered on the fitting facet of the purpose of this truncation.
Gilroy Roberts’ initials SR might be discovered on the truncation line of Kennedy’s bust, above the “WE” on the underside proper facet of the coin.
Reverse:
The reverse incorporates a symmetrical entrance view of Independence Corridor in Philadelphia. The legend UNITED STATES OF AMERICA wraps across the prime half of the rim, whereas the denomination HALF DOLLAR is discovered on the backside. 13 small stars are lined up above the denomination, following its curvature. The phrase 200 YEARS OF FREEDOM is situated to the (viewer’s) left of Independence Corridor, and the motto E PLURIBUS UNUM (“Out of Many, One”) is on the fitting. The identify of the constructing runs instantly beneath.
A spire atop the corridor inserts itself between the final two letters of the phrase “STATES” and nearly touches the sting. Seth Huntington’s initials SGH are discovered on the decrease proper nook of the corridor, beneath the motto.
Edge:
The sting of the 1976-S Bicentennial Kennedy Half Greenback Proof is reeded.
Designers
Gilroy Roberts was the ninth Chief Engraver of the U.S. Mint, serving from 1948-1965. He’s primarily remembered for his design of the Kennedy half greenback obverse.
On the time his design was chosen, Seth Huntington was the top artist of Minneapolis, Minnesota advertising agency Brown and Bigelow.
Coin Specs
| Nation: | United States |
| Yr of Problem: | 1975-76 |
| Denomination: | Half Greenback (50 Cents USD) |
| Mintmark: | S (San Francisco) |
| Mintage: | 7,059,099 |
| Alloy: | .750 copper, .250 nickel clad over pure copper middle |
| Weight: | 11.34 g |
| Diameter: | 30.6 mm |
| Edge: | Reeded |
| OBV Designer: | Gilroy Roberts |
| REV Designer: | Seth G. Huntington |
| High quality: | Proof |
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