The
Franklin Half Dollar was
minted from 1948 to 1963. It is an unusual coin
in that it celebrates an American citizen who was
not a United States president. The coin pictured
Benjamin Franklin on the obverse and the Liberty
Bell on the reverse. A small eagle was placed to
the right of the bell to fulfill the legal requirement
that a half dollar depict an eagle. A bill rushed
through Congress after the assassination of John
F. Kennedy caused the Franklin half to be replaced
by the current Kennedy half dollar in February 1964,
nine years before the design would otherwise have
been eligible for a change. Franklin halves were
made in 90 percent silver with a reeded edge. They
were struck at the mints in Philadelphia, Denver,
and San Francisco. Proof issues of the coin were
struck at the Philadelphia Mint only from 1950 to
1963.
Nellie Tayloe Ross, the Mint Director,
was an admirer of Franklin. She chose him because
he was one of the Founding Fathers who had great
stature among his contemporaries here and in Europe.
Franklin was well known as an author, publisher,
printer, scientist, inventor, and statesman. By
securing vital aid from France, he played an important
role in helping the colonies to gain independence
from England. Because Ross wanted Franklin depicted
on coin, she instructed John R. Sinnock, the Mint
Chief Engraver, to design a half dollar with his
effigy. Although the coin was based on his earlier
work, Sinnock died before the coin’s completion.
Gilroy Roberts, the new Chief Engraver, completed
the coin. When the new design was submitted to the
Commission of Fine Arts, it was criticized because
it emphasized the crack in the Liberty Bell. The
committee also felt that the eagle was too small.
Despite their disapproval, the Mint went ahead with
Sinnock’s design.
When the coin was released, it was
criticized because of the designer’s initials.
It was said that JRS, for John R. Sinnock, was really
a tribute to Communist dictator Joseph Stalin. No
change was made. The Mint simply said that JRS were
the designer’s initials.
Ironically Franklin, like Washington,
had opposed putting portraits on coins. He favored
proverbs with which the holder could benefit from
reflection. Ross felt that Franklin only knew of
living monarchs on coins. She felt that he would
have felt differently about a republic honoring
a deceased founder. In an article in the April 1990
Numismatist, writer Jonathan Topper felt that Franklin
would probably have been more upset about the reverse.
He said, “Had Benjamin Franklin known that
he would be appearing on a half dollar with an eagle,
he most likely would have been quite upset. He detested
the eagle, and numismatic lore has it that he often
referred to it as a scavenger. Given the practical
man that he was, Franklin proposed the wild turkey
as our national bird.” Franklin became the
fifth person and first non-president to be place
on a regular issue United States coin. The others
are Lincoln in 1909, Franklin Roosevelt in 1946,
Washington in 1932, and Jefferson in 1938. The use
of Franklin’s portrait completed the conversion
of United States coin designs from allegorical figures
to portraits of historically important Americans.
It also ended what many feel was the golden age
of coinage art in the United States, which included
the designs of the Walking Liberty half dollar,
the Winged Liberty Head “Mercury” Dime,
the Standing Liberty quarter, and the Saint-Gaudens
eagle and double eagle.
Sinnock’s obverse design is
based on a medal of Franklin that Sinnock had designed
earlier from a bust by Jean-Antoine Houdon. The
reverse was based on the reverse of the Sesquicentennial
of American Independence commemorative half dollar
of 1926. The Liberty Bell was taken from a sketch
by John Frederick Lewis in 1926; however, Sinnock
did not give him credit for it. Numismatic reference
books now belatedly credit Lewis for his role in
the design.
The portrait of Franklin is designed
with simple lines. He is depicted wearing a suit
from his time period. The close portrait in profile
is facing right. Above his head is LIBERTY, and
IN GOD WE TRUST is below. The date is in the right
field between his chin and chest. The reverse shows
a large Liberty Bell showing its crack. UNITED STATES
oF AMERICA is in an arc above, and the denomination
written as HALF DOLLAR is below. To the left of
the bell is the motto E PLURIBUS UNUM in small letters
balanced by a small eagle, which was not part of
the original design, to the right. The coin was
made in 90 percent silver and has a reeded edge.
The mintmark, when used, appears on the reverse
above the bell. The reverse’s eagle was added
by Gilroy Roberts as an afterthought when the Mint
officials realized that the Coinage Act of 1873
mandated an eagle be displayed on all coins of greater
value than a dime.
In January 1948, Ross made a speech
when she unveiled the new coin. She said that she
had been encouraged to put Franklin on the cent
because of his fondness for the proverb “a
penny saved is a penny earned.” Actually his
original was, “A penny saved is two pence
dear.” Ross said that she favored Franklin
on the large coin because it was an “impressive
effect.” When the coins were released, the
public wanted to know how Mint officials found out
Joseph Stalin’s middle initial. They also
felt that the small o in “of” was an
error, and the entire issue would be recalled.
There are 35 dates and mintmarks
in the series, so it is an inexpensive series to
collect in less than pristine grades. Those with
deeper pockets may wish to assemble date-and-mint
sets in MS-65 and above or collections of high-grade
proof Franklins with deep cameo contrast. The cameo
proofs with frosted surfaces and mirrored fields
are available in small numbers and often carry a
large premium in higher grades. The 1956 proof coin
with the earlier reverse is an example. Well struck
circulation strikes have full bell lines. The seven
lines at the bottom of the bell must be fully visible
and not blended together. Certain dates with full
bell lines also carry large premiums. The 1953-S
is an example of such a date. Using mintage figures
the key dates in the series are 1948, 1949-S, 1953,
and 1955. However, because of extensive melting
for bullion, other dates command a premium, for
example, 1949-D, 1950-D, and 1960-D.
Because it is so compact, the series is widely collected
by date and mint. In examining the Franklin half,
the first points to show wear are on Franklin’s
cheek, shoulder, and hair behind the ear on the
obverse; and the lettering and lines on the Liberty
Bell on the reverse. Since the details of the obverse
are often indistinct, sharpness of strike is generally
ignored. All dates are available in grades of VF
and finer. Lower Mint State coins can be unattractive
because of abrasion and contact marks which are
especially noticeable on the obverse. Higher end
gems are generally available; however, FBL coins
and deep cameo proofs, as noted above, can be costly.
Coins below XF are generally held only for their
bullion value.
