In memory of Frank:
Franklin Half Instructional Series #19: 1954S Half Dollar.
This is the 19th installment of the Franklin Half Instructional Series. Hopefully those of you who are interested in Franklins will add your own observations and pictures. By the end of the series we should wind up with a pretty comprehensive study of the Franklin series, along with some nice pictures as well. And who knows, maybe some other folks will do the same for other series!
Sources for this series generally include “An Analysis of Gem Franklins” by Jack Ehrmantraut and “The Complete Guide for Franklin Halves” by Rick Tomaska – two books which I feel every serious Franklin collector should read
1954S
The last of the “S” mint Franklins always offers a slight degree of attraction because it signifies the end of an era in US Mint history. In 1955 the San Francisco Mint closed its doors and, at least in my mind, an illustrious chapter in US coinage came to an end. San Francisco issued 1954 halves are the easiest to obtain in gem mint condition, though it should be noted that “easiest” is used as a relative term here. All the “S” mint coins are tough to obtain in pristine condition, but the 1954S is the least difficult of this bunch. Most original rolls will yield a few MS65 coins with very little in the way of handling chatter or other bag marks.
Original gem pieces if toned, seem to have a typical golden brown coloration, though every once in a blue moon, you’ll see a spectacular gold/blue/red example with an immaculate strike. Only about 5% of the mintage of 4,993,400 has full bell lines, these most likely were the first strikes from fresh dies which deteriorated rapidly. Collectors should be aware that, although a 1954S half may show Full Bell Lines on the bottom lines, it is quite a different story on the upper lines. These are often quite weak, with the lines on the upper right quadrant showing the most severe weakness. One of the most unusual Franklin halves I’ve ever seen was a 1954S where there was no discernable detail on the “Pass and Stow” or the upper lines of the bell, however, the bottom bell lines were quite visible, thus earning the piece an MS65FBL grade from PCGS. I guess technically the grade was correct, but collectors need to remember that the FBL designation is supposed to denote an overall “FULL STRIKE” on the coin. In this case it was certainly lacking.
Current population numbers from PCGS read as follows:
MS63 and lower 161 in non FBL and 22 in FBL
MS64 - 1909 in non FBL and 1371 in FBL
MS65 - 1463 in non FBL and 441 in FBL
MS66 - 76 in non FBL and 40 in FBL
MS67 – 1 in FBL
This coin sports a healthy population of MS64 and MS65 issues, with an equally healthy number FBL coins in these grades. MS64FBL coins can generally be found at very reasonable prices, generally $60-$90 per coin depending on surface characteristics. MS65FBLs are available as well and can fetch anywhere from $250 - $400, depending on the strike characteristics and color. A premium will be placed on pristine white or beautifully toned specimens of this issue. MS66 coins although less available than other grades for obvious reasons, may be had, when found, for around the $200-$300 in non FBL and up to over $1000 in FBL. This grade as most other gem grade Franklins, has seen a settling of prices due to increased quantities being graded. A MS67FBL pieces will still bring a healthy 4 figures when and if they come up for sale.
For more information on this date you can look the coin up in the Coinfacts page, which also sites significant sales appearances over the past few years. This information can be found HERE. I will continue to post the COINFACTS site for reference, but I am in no way promoting their products or services.
The 1954S marks the end of an era in US minting history. While still relatively illusive, it is the one issue which gives the collector an opportunity to own a handsomely struck coin at reasonable prices, which has some historical ties to it as well.. Don’t settle for less than MS64FBL in this issue, as they can be had relatively easily. Have fun collecting Frankies!
