Every Franklin half dollar is worth at least its silver. The series ran from 1948 to 1963, every coin is 90 percent silver, and each one contains 0.3617 troy ounces of pure silver, which comes to approximately $11 to $18 depending on the silver price. Most worn Franklins sell for that melt value or a dollar or two over. The ones that bring real premiums are uncirculated coins with Full Bell Lines, the lower-mintage dates such as 1949-S, 1953 and 1955 in better condition, and early proofs from 1950 to 1953. A cleaned Franklin, even a scarce date, usually falls back to its silver value.
Quick answer
- Every Franklin half is 90% silver, worth about $11-18 depending on spot.
- Check the date and mint mark above the bell, then the bell's lower lines.
- Key dates, Full Bell Lines and early proofs bring tens to thousands of dollars.
How to check yours, step by step
A 5x or 10x loupe, a window for light and a list of the dates below are all that is needed.
- Read the date on the obverse. The date sits under Benjamin Franklin's bust, at the bottom right of the coin. Any date from 1948 to 1963 is a Franklin, and every one is silver.
- Find the mint mark on the reverse. It is a small letter above the beam that the Liberty Bell hangs from: D for Denver, S for San Francisco, no letter for Philadelphia. San Francisco struck Franklins for circulation only through 1954.
- Pull the lower mintage dates. Set aside 1948, 1949, 1949-D, 1949-S, 1953, 1953-S, 1955 and any proof. These are the dates where condition starts to matter.
- Check the wear points. On the obverse, look at Franklin's cheek, the hair behind his ear and the curls along his temple. On the reverse, look at the bell's lettering and the lines across the bell. If the high points are flat and the luster is gone, the coin is circulated and probably worth melt or a little more.
- On uncirculated coins, look at the lower bell lines. Near the bottom of the Liberty Bell, a set of horizontal lines runs across its width. If those lines are complete and unbroken from side to side, the coin may qualify as Full Bell Lines, often written FBL. A small break or flat spot in the middle of the lines rules it out.
- Check for proof surfaces. Proofs have deep mirror fields and sharp, square rims, and they usually come in a proof set or a cellophane or plastic holder. Proofs were made from 1950 to 1963, all at Philadelphia, with no mint mark.
- Look for cleaning. Tilt the coin under a lamp. Fine parallel scratches, an unnaturally bright white look or a dull gray surface where luster should be are signs of cleaning or polishing, which cut the collector premium away.
The melt floor
A Franklin half weighs 12.5 grams and is 90 percent silver and 10 percent copper. The pure silver content is 0.3617 troy ounces, the same as a 1964 Kennedy half or a Walking Liberty half. Melt value is 0.3617 times the spot price:
| Silver spot price | Melt value per Franklin | Melt for a roll of 20 |
|---|---|---|
| $30 per ounce | About $10.85 | About $217 |
| $40 per ounce | About $14.47 | About $289 |
| $50 per ounce | About $18.09 | About $362 |
Silver dealers often quote 90 percent coins by face value rather than by the coin. One dollar in face value of any 90 percent US dimes, quarters or halves contains about 0.715 troy ounces of silver, so two Franklin halves equal one dollar face. Dealers usually pay close to melt for worn common dates and sell them slightly above it. Check the day's spot price before selling, since it moves daily.
Franklin half values by date
Values below are approximate retail values for original, uncleaned coins, assuming silver at about $40 an ounce. "Circulated" covers the range from heavy wear to light wear. "Uncirculated" means no wear, with luster, but without the Full Bell Lines designation.
| Date | Mintage (approx.) | Circulated | Uncirculated | Uncirculated with FBL |
|---|---|---|---|---|
| 1948 | 3.0 million | $15-25 | $30-50 | $60-150 |
| 1949 | 5.6 million | $15-30 | $50-80 | $100-250 |
| 1949-D | 4.1 million | $15-30 | $50-90 | Hundreds and up |
| 1949-S | 3.7 million | $20-45 | $70-150 | Several hundred and up |
| 1950 to 1952, all mints | 5 to 25 million | $14-20 | $20-45 | $40-200 |
| 1953 | 2.7 million | $15-25 | $25-50 | $80-300 |
| 1953-S | 4.1 million | $14-20 | $25-50 | Five figures in high grade |
| 1954 to 1954-S | 4.9 to 25 million | $14-18 | $20-35 | $40-200 |
| 1955 | 2.5 million | $16-30 | $30-50 | $50-150 |
| 1956 to 1963, all mints | 4 to 67 million | $14-18 | $20-35 | $35-150 |
The FBL column is the widest because the premium depends on the exact grade. A common date that grades MS64 FBL may only bring tens of dollars, while the same date in MS66 FBL can bring hundreds. Some dates were almost always struck with weak bell lines, and those are the true condition rarities.
Key dates
The 1949-S is the scarcest regular date in circulated condition, with a mintage of about 3.7 million and many worn down before collectors noticed. The 1953 from Philadelphia had one of the lowest mintages of the series at around 2.7 million, but enough were saved that it trades at a modest premium. The 1955 had the smallest mintage of all, about 2.5 million, and was widely hoarded at the time, so it is easy to find but always worth a little more than melt. Some 1955 coins show a clash mark near Franklin's mouth that collectors call the Bugs Bunny variety, because it looks like buck teeth; it adds a small premium.
Compared with key dates in other series, such as the 1916-D Mercury dime, Franklin keys are not dramatic. The series was saved in rolls from the start, which kept most dates affordable.
Full Bell Lines
Franklin halves were often struck with too little pressure to bring up the fine lines across the bottom of the bell. Collectors call a coin with complete, unbroken lower bell lines Full Bell Lines, and both PCGS and NGC note it on their labels. For dates where nearly all coins came weakly struck, such as the 1953-S and 1954-S, an FBL example in high grade is a true rarity. For most dates it adds a premium of tens of dollars, more in gem grades. A coin worn enough to flatten the bell lines can never qualify.
Proofs
| Proof year | Mintage (approx.) | Typical value |
|---|---|---|
| 1950 | 51,000 | $300-600 |
| 1951 | 58,000 | $200-400 |
| 1952 | 82,000 | $120-250 |
| 1953 | 129,000 | $100-200 |
| 1954 to 1955 | 233,000 to 378,000 | $40-90 |
| 1956 to 1963 | 669,000 to 3.1 million | $25-60 |
Proofs with frosted, cameo devices against mirror fields sell for more, and deep cameo proofs from the early years can bring several times the values above. Proofs that have hazed or toned are still proofs, but heavy spotting or rub marks bring them toward melt.
Cleaned coins
Many Franklins in inherited collections have been cleaned at some point, often with silver polish or a baking soda paste. Cleaning removes the original luster and leaves a surface that looks too bright or slightly gray and lifeless. Grading services label these coins as cleaned or details grade and do not give them a numeric grade. For a common date, cleaning does not matter much, because the coin is worth its silver either way. For an uncirculated 1949-S, an FBL coin or an early proof, it can wipe out most of the premium.
Common mistakes
- Assuming low mintage means high value. The 1953 and 1955 had small mintages, but many were saved. Circulated examples sit close to melt.
- Calling a coin FBL with a break in the lines. The lower lines must run complete from side to side. Partial lines do not count.
- Expecting worn coins to have Full Bell Lines. FBL applies only to uncirculated coins. Wear flattens the lines first.
- Cleaning before selling. Polish removes the original surface and the premium with it. Silver value survives cleaning; collector value does not.
- Selling key dates by weight. A 1949-S or a 1950 proof in a bag of junk silver is worth separating out.
- Confusing the mint mark position. The mint mark is on the reverse above the bell, not on the obverse as on later Kennedy halves.
- Ignoring the silver price. Common Franklins move with spot. A price that was fair last year may be low or high today.
What to photograph
Use daylight from a window, no flash, and hold the phone parallel to the coin.
- The obverse straight on, to show Franklin's cheek and hair and the date.
- The reverse straight on, with the mint mark above the bell beam readable.
- A close macro of the lower bell lines, lit from the side, for any coin that might be uncirculated.
- An angled photo showing luster or proof mirrors, which also reveals cleaning.
- The proof set packaging if the coin is still in it.
- A group photo of all the coins with dates visible if there is a roll or a whole collection.
When to get it looked at in person
A common date Franklin in circulated condition is worth its silver, and any coin dealer or bullion dealer can buy it at a fair price based on the day's spot. No grading is needed.
- A local coin dealer can check FBL and condition quickly. Many will look at a few coins for a small charge or none. Expect offers close to melt for common coins and 60-80 percent of retail for collector coins.
- PCGS or NGC grade coins for fees starting in the tens of dollars per coin, plus shipping and a membership or dealer submission. Grading makes sense for uncirculated coins with strong bell lines, high-grade 1949-S and 1953-S coins, and early proofs with cameo contrast.
- A whole roll or collection is best sorted first: pull key dates, FBL candidates and proofs, then sell the rest as silver. The silver quarters guide covers selling 90 percent silver in bulk.