Commems Collection Questions: Answer #10 - Clad Half Dollars

Here's a topic that is often brought up during in person and/or online discussions of the modern US commemorative Series ...

one_fine_dime wrote:



It's important to realize that the copper-nickel (CuNi) clad commemorative half dollars are meant to serve as a lower-cost entry point for new collectors, young collectors and/or those collectors working with a limited hobby budget. In the 1990s, the Mint often demonstrated this via Young Collector Sets (or similar) that featured (mostly) the clad half dollar; these Sets were offered at very reasonable price points and, IMO, were a great way to bring younger collectors into the hobby. More than once, I gave talks on these sets at coin shows to a group of young collectors (and their parents) and always got a great reception. (More than once, I was approached later in the day by one or more of the program attendees to proudly show me the Young Collector Set they had found - and purchased - on the bourse floor!)

The "Commemorative Coin Program Restrictions" section of the US Code (taking effect in 1999 and continuing to the present) specifies "the Secretary [of the Treasury] shall mint {i} not more than 750,000 clad half dollars." Thus, clad half dollars are specified by law as the default for the denomination within commemorative coin programs. Any switchover to silver half dollars would likely need to start with a revision to this part of the US Code. (Note: the two silver half dollars of the modern series - 1982 Washington and 1993 James Madison / Bill of Rights - were each struck prior to 1999.)

While it seems likely that sales of the half dollar coins would go up if they were struck in silver due to older and/or more seasoned collectors flocking to them due to a "silver bias," I think the unavoidable cost increase would push the coin past the budget limit for many of the collectors that the Congress/Mint is trying to bring into the hobby via commemorative coins. (As I write this, I fully acknowledge that the sales price of commemorative half dollars has risen in recent years, and the Mint has created coin sets intended for young collectors that do not include a half dollar.) I have wondered if part of the cost increase is the fact that the Mint no longer strikes half dollars for circulation and therefore some of the previous cost efficiencies - due to volume - have been lost.

Though I heartily enjoy the classic silver half dollars of the 1892-1954 era, I'm fine with the continuation of clad half dollars in the modern series. We need to entice as many new and/or young collectors as possible and if the lower point of entry for the clad half helps with this, I say continue on!