What's The Proper Grade For This 1961 Franklin Half Dollar?

The problem with Franklins and value is that by the late 50's and early 60's the US Mint was beginning to get that they could make a lot more profit with proofs and mint sets. The numbers produced soared over the decade.

For instance, in 1951 they made almost 17,000,000 business strikes in Philadelphia alone, but less than 60,000 proofs.

By 1961, business strikes had dropped 50% to about 8,000,000, but proof production increased 5000% to 3,000,000.

People weren't using them for daily transactions, but they were holding onto them for value. In short, we ended up with a market flooded with very high quality coins that no one was supposed to spend and as a result are very common, even today, almost 60 years later.

It's always seemed like such a shame that the late Franklins are worth so little, but they were made in such (relatively) large numbers and were so aggressively marketed as investments that they have survived in such huge numbers.

The short answer to your question is no - don't pay to have it graded. You can buy a 1961 Proof Franklin already graded PR67 by PCGS for $40, and probably less if you shop around. It will cost you at least $30 to have yours graded.