Can someone from the United States or Canada please explain to me why half dollars are so unpopular in circulation? It seems some of my Canadian/Québécois/American friends had never even seen/heard of a 50 cents piece. I'm sure they're still minted, but rarely turn up in circulation; correct me if this is not the case. And also, is there any reason for this half dollar phobia? I mean, larger coins are still minted and circulate today in other countries, right?
Well first, they are not used for giving change at banks, stores, etc., so they are not put into circulation by any businesses. And, change of any kind is really not used at all anywhere unless you pay with cash, which is not often at a store. And the coins that are given back for cash purchases are usually just stored in a piggy bank until you go to the bank and put them through the machine.
They used to circulate widely in the US. but then 2 things happened pretty quickly. JFK was assassinated. the half was the vehicle for his memorial issue. the public saved it by the millions. Then a year later silver was removed from the coins make up. I think the public just got out of the habit of the half. Now they are just issued in mint and proof sets. Any circulation of recent dates is by accident.
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Having lived through that era when it was normal to receive a half in change, IMHO one of the main reasons for its demise was it was easier to carry four quarters than a half ... The size and weight did it in for common change ..
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As a paper boy in the late 60's I would get 50 Cent pieces on occasion but not regularly. Every Saturday I would walk my route twice, collections in the morning and paper delivery in the afternoon. Occasionally a friend, who's route intersected with mine, and I would collect just enough for a couple of hours at the local arcade. This got my to thinking (large round of applause). Perhaps vending machines (quarters only) had a large impact.
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Canadian banks do not distribute these anymore back from 2004 or so. You can only get these from the RCM that sell them as numismatic products in rolls and sets around twice the face value.
They are legal tender but many shops won't accept them because they're not use to see them. As they're not into circulation, many people think the value of the coin itself is more than 50cents and they prefer to keep it if they find one.
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Well, if you look at how easily Canadian and US 50¢ (or halves, if you prefer, American friends) from the 40s, 50s and 60s can be obtained now in high grade, I think the answer needs to be found elsewhere than some of the hypotheses formulated in this thread so far. My suspicion is that a big part of the answer (though not all of it) lies in the fact that vending machines were never adapted for the 50¢ ─ let alone the silver or nickel $1 [EDIT: oops, I see Peter made the same point]. Why? Probably because when vending machines started to pop up everywhere, there were very, very few items in them that would have sold for so much as 50¢.
So, the demand for such coins must have dwindled. In Canada you see that George V 50¢ can be found in well-worn condition, even the mid-1930s ones, though already then, many less were struck compared to the late 1910s (1917-1919). What's more, no 50¢ were struck in 1933 and 1935, a sign that this denomination was becoming less popular (likewise in the 1920s). Unlike the George V 50¢, the George VI 50¢ are rarely found below the F or VF grade. My hypothesis is that their usefulness was further reduced as vending machines were introduced, hence their limited circulation. The banks ordered less and less of them because of dwindling demand for them.
Interestingly, if the Canadian government moves to cancel the 5¢ ("nickel") coin, which they rejected for now at least, then the 25¢ will have to be scrapped as well and replaced by a 20¢ ─the revenge of the shilling─ and, probably, a 50¢ circulating coin.
By the way, the Mint still strikes the 50¢ as, technically, a circulating piece, though it is sold only by the Mint and at a premium. But that it is "circulating" is clear from the Mint's annual reports available online.
Quote: "Oklahoman" I think the public just got out of the habit of the half. Now they are just issued in mint and proof sets. Any circulation of recent dates is by accident.
But doesn't the US regularly mint the JFC 50 cent coin like any other? Or is it literally for proofs?
What I collect: US, 3rd Reich Germany, Philippines, Ancients, Vatican City, North Korea.
Quote: "Oklahoman" I think the public just got out of the habit of the half. Now they are just issued in mint and proof sets. Any circulation of recent dates is by accident.
But doesn't the US regularly mint the JFK 50 cent coin like any other? Or is it literally for proofs?
Yes the JFK halves are still struck for general circulation. If you take 2015, the last year for which we have mintage figures so far, there were 4,600,000 of them struck for circulation + 711,952 proofs. Now 4.6 millions look like a lot, but when you consider that in the same year 463,000,000 "Homestead Nebraska" circulating quarters were struck, the halves output represents almost exactly 1% of that (actually 0.09935%).
Now, there were five such commemorative quarters struck in 2015, so the halves represent only about 0.02% of the total output of quarters (i.e. a fifth of 1%).
In the US and Canada, the halves/50¢ are basically on life support.
Also...don't forget that the 4.6 million struck are divided between P for Philadelphia and D for Denver. about right for the mint sets. but definitely not for circulation.
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rolls and small bags are also directly available at a premium directly from the mint. they bypass the Fed, and are thus not a circulating issue. Any half encountered in circulation that is later than 2001 is not a half issued for circulation. it is an entry to circulation outside the mechanism of orders by the fed and then member banks from the fed. bags and rolls account for around half of the 4.6 million made. the other half, P and D are in the mint sets.
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Ah, OK. So, the Numista catalogue should be updated because it is basically wrong, and "common coin", as the halves are described, implies circulating coins, which they are not.
Interestingly, no circulating halves were struck in 1987 either.
EDIT: I sent this to the admin to be added to the Comments section:
Because of low demand, no halves were struck for general circulation in 1987. In addition, casinos, where halves were still commonly used, increasingly replaced them with 50¢ chips. Beginning in 2002, the half dollar ceased to be struck for general circulation. The coin is found in mint sets and can be purchased from the Mint in rolls and bags, at a premium above face value.
I was a young kid when I bought the 1987 mint set. I bought it because none were issued for circulation. First time I made a money order. The mint never sent me the set. I will have to tell of my revenge someday.
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Quote: "Oklahoman"I was a young kid when I bought the 1987 mint set. I bought it because none were issued for circulation. First time I made a money order. The mint never sent me the set. I will have to tell of my revenge someday.
Quote: "Oklahoman"I was a young kid when I bought the 1987 mint set. I bought it because none were issued for circulation. First time I made a money order. The mint never sent me the set. I will have to tell of my revenge someday.
Wow, that is interesting!
Or rather: intriguing! Let's hope we'll learn that story soon... perhaps below?? ↓↓↓↓
It was the summer of 1989. I was an attendee of the American Numismatic Association's Summer Seminar. One of our activities was being able to not only tour the Denver Mint, but be on the floor and interact with the machinery and the pre and post coinage results. The Congress halves and silver dollars were being minted in a side room, and we were allowed to enter and observe the process.
Library Media Specialist, columnist, collector, and gardener...
Quote: "Oklahoman"rolls and small bags are also directly available at a premium directly from the mint. they bypass the Fed, and are thus not a circulating issue. Any half encountered in circulation that is later than 2001 is not a half issued for circulation. it is an entry to circulation outside the mechanism of orders by the fed and then member banks from the fed. bags and rolls account for around half of the 4.6 million made. the other half, P and D are in the mint sets.
Fun fact - They used to be available at face value, which enabled people to run manufactured spending up to hundreds of thousands of dollars a year for free vacations on flight rewards schemes.
The pressure from the credit card card companies put a stop to it!
It was amazing to see trays and trays and trays of the commemorative Congress half dollar just sitting at tables prior to public release. A mint official went to a small press in the corner of the room. We were to be honored to see real silver dollar being struck! The 90% silver D Congress half...but then the press stopped. Then it started. Then it stopped...then a crowbar came out! And then a sheet was thrown over the whole thing...
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We had a welcoming speech from a mint official. Then they made their second mistake. The first was not sending me my 1987 set. The second was asking if we had any questions. I did. I asked what they were trying to hide under the sheet . Surprisingly they showed us! A silver dollar die cap. About 7 planchetts all struck together. It was an amazing mess. I remember an official telling us it would be worth nothing outside the mint. We laughed him down. And that was the mint's third mistake: dismissing intelligent coin collectors as ignorant. oh. it was ooonnnn!
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We were a riled up group of teens and seasoned collectors when we were then escorted to the in house gift shop. This was the old gift shop that used to be in the main building. Ratty carpet. Dark walls...every coin set and medal you could want selling for too much...and in the corner a couple of ladies striking your very own mint medal for a buck on a big medal press.
Library Media Specialist, columnist, collector, and gardener...
Well...as I stewed in the gift shop, I decided to buy a medal and push the button and strike it myself. Heading over to the press, I tripped over a section of the torn carpet...a carpet thread caught in my laces and a significant snag pulled free. in an instant I thought about asking the mint worker to strike my medal thru the piece of carpet. To my surprise he did! Then I pulled out some of my long hair and had another strike through created. By this time all the other younglings were pulling out MY hair and making strike throughs of their own. I got in line to make a third medal. Had another great idea even though my head was sore. After they struck my third medal, I asked them to flip it over half on and half off the medal die. THEY DID! These medals took at least two strikes to make. So when I left with a medal that was struck correctly twice, then struck an additional 2 times outside a collar this created a die bounce and a medal that shows three different strikes. Additionally it had been flipped over front to back. Spectacular to say the least! This medal made the adults excited. One adult wanted to make a chain strike...at this point the mint employee got scared at our enthusiasm... and stopped it. But by this time I had my three messed up mint medals...Younglings sold their medals to adults for a hundred bucks or more...I still have mine. And honestly, has anyone ever seen a messed up US Mint medal? I have only ever seen mine.
Library Media Specialist, columnist, collector, and gardener...
─ and, probably, a 50¢ circulating coin.
