Price Guide for 1938 Half Dollar Variants
This guide presents price ranges for variants from three sources: eBay sales, third-party auctions, and PCGS guides. Values are shown for various conditions, allowing collectors to compare across different market segments. Price estimates may vary between sources, especially for rarer variants.
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3rd Party PriceCirculated: $18.00 – $6,000.00Uncirculated: $10.00 – $44,400.00
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eBayCirculated: $17.50 – $599.85Uncirculated: $26.50 – $3,800.00
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PCGS Price GuideCirculated: $35.00 – $700.00Uncirculated: $750.00 – $34,000.00
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3rd Party PriceCirculated: $16.00 – $2,900.00Uncirculated: $47.00 – $18,400.00
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eBayCirculated: $14.50 – $239.00Uncirculated: $44.00 – $2,150.00
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PCGS Price GuideCirculated: $17.00 – $100.00Uncirculated: $110.00 – $25,000.00
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3rd Party PriceCirculated: $164.50 – $1,300.00Uncirculated: $168.00 – $26,400.00
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eBayCirculated: $305.00 – $735.00Uncirculated: $304.00 – $2,550.00
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PCGS Price GuideCirculated: $275.00 – $375.00Uncirculated: $415.00 – $45,000.00
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3rd Party PriceUncirculated: $4,083.00 – $9,200.00
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PCGS Price GuideUncirculated: $2,250.00 – $25,000.00
Design and Specifications of the 1938 Half Dollar
The 1938 Walking Liberty Half Dollar is part of a series that began in 1916 and continued until 1947. This iconic design by Adolph A. Weinman is considered one of the most beautiful in American coinage history. The obverse features Lady Liberty striding towards the sun, symbolizing progress, while the reverse depicts a bold eagle, representing strength and freedom.
1938 was a significant year as the country was still recovering from the Great Depression, and coin production remained relatively low compared to later years, making some issues from this year more desirable to collectors.
| Weight | 12.5 grams |
|---|---|
| Diameter | 30.6 mm |
| Mint Marks | D, S |
| Composition | 90% silver, 10% copper |
| Obverse Design | Walking Liberty, designed by Adolph A. Weinman |
| Reverse Design | Eagle with wings spread, designed by Adolph A. Weinman |
Rarity Factors and Value Drivers
Condition plays a crucial role in the value of 1938 Walking Liberty Half Dollars. Coins in uncirculated condition (MS60 and above) are significantly more valuable than circulated examples. The rarity and value increase dramatically for coins graded MS65 and higher.
Key areas to examine for wear include Liberty’s left hand and leg on the obverse, and the eagle’s breast and wing feathers on the reverse. Full Bands (completely separated horizontal lines on the band holding the fasces) are highly prized and can command substantial premiums.
Mintage: 4,138,000
Rarity Scale: Uncommon
Circulation Status: Moderate Circulation
Preservation Rarity: Scarce in MS65 and above
Varieties Errors: None significant
Market Demand: Moderate, higher for well-preserved specimens
Mintage: 2,832,000
Rarity Scale: Scarce
Circulation Status: Moderate Circulation
Preservation Rarity: Rare in MS65 and above
Varieties Errors: None significant
Market Demand: High, especially for high-grade examples
Luster and eye appeal are critical factors in determining the value of uncirculated 1938 Half Dollars. Coins with original mint luster and minimal contact marks are highly sought after. Toning can also impact value, with attractive, natural toning often enhancing a coin’s desirability.
The strike quality is another important consideration. Well-struck coins with sharp details, especially those with Full Bands, are more valuable. The San Francisco issue, being scarcer, generally commands a premium over the Denver issue in similar grades.
