Coin Value Finder » 1939 Half Dollar Value: are “D”, “S”, No mint mark worth money?

1939 Half Dollar Value: are “D”, “S”, No mint mark worth money?

The 1939 half dollar is a great example of beautiful American coinage, but it also marks one of the first years the country was crawling out of its great depression. This results in smaller quantities available and unique collecting practices that affect the current value.

The value of a 1939 half dollar is usually between its current silver melt price and about $93, but both these numbers change with market trends. Proof coins sell for about 10 times as much as the business strikes.

We explain the intricacies of the 1939 half dollar value in this guide, including the different types of half dollars from this year, how to determine coin grade, and what errors to look for.

1939 Half Dollar Details 

  • Category: Walking Liberty Half Dollar (1916 to 1947)
  • Mint: Philadelphia; Denver; San Francisco
  • Mintage: 13,668,558
  • Obverse Designer: Adolph A. Weinman
  • Reverse Designer: Adolph A. Weinman
  • Composition: 90% Silver; 10% Copper
  • Fineness: 0.9
  • Weight: 0.4409 oz.
  • ASW: 0.3617 oz.

Adolph A. Weinman’s Walking Liberty design shows Lady Liberty striding to the left of the coin with a sun at her back. A cape of thirteen stars settles in the sky behind her, and she reaches out with her right arm while carrying branches in her left.

The obverse inscriptions read LIBERTY on the coin’s top curve, IN GOD WE TRUST along the bottom right, and the year 1939 at the bottom of the coin.

On the reverse, a bald eagle perches on a rocky crag, facing the left of the coin with its wings slightly folded behind. Branches grow out to the left of the cliff, and the mint mark (if there is one) is nestled between them and the rim.

The reverse inscriptions read UNITED STATES OF AMERICA at the top, E PLURIBUS UNUM above the tips of the branches, and HALF DOLLAR along the bottom curve.

1939 Half Dollar Value Chart

Mint Mark Good Fine Extremely Fine Uncirculated Proof
1939 No Mint Mark Half Dollar Value $8.81 $9.97 $12.08 $42.00 /
1939 D Half Dollar Value $8.81 $12.08 $12.08 $39.00 /
1939 S Half Dollar Value $8.81 $11.08 $21.00 $93.00 /
1939 Proof Half Dollar Value / / / / $973

1939 Half Dollar Value and Varieties Guide

The 1939 half dollar is 90 percent silver, and these coins are often hoarded for their silver melt value. This number is extremely volatile, but currently factors out to about $8.81 per silver half dollar.

Most Walking Liberty half dollars from 1939 in decent condition (Fine or greater) are worth more than their melt price. There are four varieties from three different mints, including a proof version worth well over the coin’s melt value.

1939 No Mint Mark Half Dollar Value

1939 No Mint Mark Half Dollar

  • Type: Walking Liberty Half Dollar (1916 to 1947)
  • Edge: Reeded
  • Mint Mark: N/A
  • Place of Minting: Philadelphia 
  • Year of Minting: 1939
  • Face Value: $0.50
  • $ Price: $8.81 to $43
  • Quantity Produced: 6,820,808
  • Designer: Adolph A. Weinman
  • Mass: 12.50 grams
  • Diameter: 30.6 mm

The Philadelphia mint was not marking its coins in 1939, and it produced half dollars for circulation and proof. Over 6.8 million business strike 1939 half dollars were made, accounting for a 50 percent increase over the previous year.

Like most mints, this is a symbol of the recovering post-depression economy. Many well-preserved 1939 half dollars are available due to roll saving from this year, and you may see iridescent gems hosting beautiful gold undertones. These regularly sell for $43 or more.

Legend Rare Coin Auctions is responsible for the current auction record of this coin. In April 2022 a PCGS MS-68+ 1939 no mint mark half dollar sold for $49,937.5.

1939 D Half Dollar Value

1939 D Half Dollar

  • Type: Walking Liberty Half Dollar (1916 to 1947)
  • Edge: Reeded
  • Mint Mark: D
  • Place of Minting: Denver 
  • Year of Minting: 1939
  • Face Value: $0.50
  • $ Price: $8.81 to $42
  • Quantity Produced: 4,267,800
  • Designer: Adolph A. Weinman
  • Mass: 12.50 grams
  • Diameter: 30.6 mm

The Denver mint also saw a huge increase in production, and its’ 4.2+ million half dollars accounted for 10 times the amount of coins struck the previous year. Most Denver coins from this time were well struck, and collectors regularly seek 1939 D half dollars for this reason.

Walking Liberty half dollars from this mint regularly sell for as much as $42, but the auction record is much higher than market value. In 2016, a PCGS MS-68 D half dollar sold for $25,850.

A lower graded 1939 D half dollar with a repunched mint mark sold for $1,292.5 in 2017, proving the effect small errors may have on value.

1939 S Half Dollar Value

1939 S Half Dollar

  • Type: Walking Liberty Half Dollar (1916 to 1947)
  • Edge: Reeded
  • Mint Mark: S
  • Place of Minting: San Francisco 
  • Year of Minting: 1939
  • Face Value: $0.50
  • $ Price: $8.81 to $93
  • Quantity Produced: 2,552,000
  • Designer: Adolph A. Weinman
  • Mass: 12.50 grams
  • Diameter: 30.6 mm

Nineteen thirty-nine was the first year the San Francisco mint had produced half dollars since ceasing production of circulating half dollars in 1937, and the amount only accounted for about half of previous batches.

San Francisco coins are well-pursued in general, and the 1939 half dollar is not excused. Many well-struck examples are still available, but these S mark coins are the rarest of the three business strike varieties.

The current auction record is a NGC MS-68 1939 half dollar that sold for $13,800 in September 2019.

1939 Proof Half Dollar Value

1939 Proof Half Dollar

  • Type: Walking Liberty Half Dollar (1916 to 1947)
  • Edge: Reeded
  • Mint Mark: N/A
  • Place of Minting: Philadelphia 
  • Year of Minting: 1939
  • Face Value: $0.50
  • $ Price: $973
  • Quantity Produced: 8,800
  • Designer: Adolph A. Weinman
  • Mass: 12.50 grams
  • Diameter: 30.6 mm

Proof half dollars from 1939 are more common than the previous year, but they’re still relatively rare. While they lack a mint mark, similar to Philadelphia coins for circulation, the proof coins have a greater shine and mirror-like finish.

Most of these coins have little to no cameo contrast, but they’re rare enough to regularly value at $973 in proper condition. The current record is a PCGS PR-68 1939 proof half dollar that sold for $40,800.

1939 Half Dollar History

Adolph A. Weinman’s Walking Liberty design is regarded as one of the most beautiful pieces of American coinage, but it held a reputation for striking poorly and was quickly replaced once it aged out.

Weinman entered a 1915 competition seeking new designs for the Barber coins (dime, quarter, and half dollar), and won five out of the six designs. The Mint reduced this to only four to make sure he wasn’t spread too thin.

His half dollar design is a bold symbol of American pride, and it’s a truly artistic piece that evokes emotion while leaving parts open for interpretation. The Walking Liberty half dollar kept up a steady demand, but was ultimately replaced by the Franklin half dollar in 1948 due to striking difficulty.

1939 Half Dollar Grading

The half dollar denomination is mostly pursued by collectors, and many of these coins remain in a high degree of detail. We explain how you can generally grade your coins using generic terms below, but more serious consideration requires professional grading.

Services such as those provided by PCGS or NGC assign a number grade to your coin along a 70 point scale. While higher numbers indicate a better grade, these systems are very strict on what qualifies for each position.

Professional grading is not necessary, but it’s important if you’re considering investing in a particular coin or if you’re ready to sell one from your collection.

Good

A 1939 half dollar in “Good” condition is extremely worn down. The rim is flat and runs in with the back field of the coin, but all letters and numbers should be readable.

Liberty’s form is reduced to a flat shape, but you may still see major folds in her gowl. The eagle on the back has a similar fate, but there may be low relief details that are untouched by time.

Fine

When the 1939 half dollar reaches a “Fine” grade, you notice greater details and less dullness from the years. Liberty’s clothes have sharper details, but there’s still evidence of wear in high points like her arm or breast.

The highest points will be flat at this grade, and rounded details like the reaching rays of light are still non-existent. This smoothing is seen on reverse details like the eagle’s head or chest, and branches and leaves are also worn flat.

Extremely Fine

The 1966 half dollar in “Extremely Fine” condition may appear untouched at first glance, but deeper inspection reveals wear and tear to a naked eye. Details are similar to the original design, but you notice dulling and scratches on high points.

Rounded areas are still worn down, even at this high grade, but you may not notice it at first glance.

Uncirculated

Even “Uncirculated” 1939 half dollars are graded on a scale, but they’re as close to production quality as you get. Coins at this grade have held onto their original luster through the years, and any marks need magnification to detect (if there are any at all).

You only see evidence of handling or time on high points, and nothing is great enough to distract from the coin’s impressive features.

List of 1939 Half Dollar Errors

The most common 1939 half dollar errors include:

  • Double die errors
  • A repunched mint mark
  • Strikethrough errors

While errors outside of these exist, the ones listed are well-known and recognized. Any error should be professionally evaluated to verify it is, in fact, a mint mark and not derived from post-mint damage.

Errors often increase the value of the coin, but the premium they command is secondary to the coin’s original grade.

1939 Double Die Obverse Half Dollar

1939 Double Die Obverse Half Dollar

Double die errors of any kind can happen on the 1939 half dollar, but you’re most likely to see it on the obverse (front) of the coin.

When a coin is double died, it is struck twice (although it can be struck more), and the metal usually shifts between each strike. This causes multiple impressions of the design.

Smaller errors only show mild shifting of the design lines, while errors of a greater scale may reorient the design or have more than two strikes.

1939 Repunched Mint Mark Half Dollar

1939 Repunched Mint Mark Half Dollar

The 1939 Walking Liberty half dollar is known for repunched mint marks, particularly from the Denver mint. Coins were minted by hand during this time, and a weak or improperly aligned mint mark was not enough to merit throwing the coin away.

Instead, the mint would strike the coin a second time with the mint mark, causing two letter marks that would eventually make the coin more desirable in the future.

Most of the time, these mint marks crossover. If you find a completely separate mint mark, expect the value to climb exponentially.

1939 Strikethrough Half Dollar

A strikethrough half dollar is one that was marked by a material other than the die or blank. While normal wear and tear may mimic this, a professional can determine which errors occur during the minting process.

A 1939 coin that was struck over may have small marks from dirt, dust, or debris, or it may have larger imprints from bits of metal that fell between the coin and the die. Sometimes, something tacky or oily would get on the die and weaken the impression.

1939 Half Dollar FAQs

What Is a 1939 Half Dollar Coin Worth?

A 1939 half dollar is at least worth its silver melt value, around $8.91, but those in better condition are worth about $10 to $100. Proof coins from this year can be worth close to $1,000, but all varieties regularly sell for thousands at auction in Mint State condition.

How Much Is a 1939 D Walking Liberty Worth?

A 1939 D Walking Liberty half dollar is worth $8.91 to $39. The Denver mint saw the second highest production of half dollars of any mint this year, and many of these coins were well struck and well preserved.

What Is a 1939 Half Dollar Made Of?

The 1939 half dollar is made of 90 percent silver and 10 percent copper.

Where Is the Mint Mark on the 1939 Walking Liberty Half Dollar?

The mint mark on the 1939 Walking Liberty half dollar is on the coin’s reverse, to the left of the rocky crag the eagle perches on.

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