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1955-P Franklin Half Dollar Value Question

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jack316's Avatar
United States
392 Posts
 Posted 03/04/2023  4:08 pm Show Profile   Bookmark this topic Add jack316 to your friends list Get a Link to this Message Number of Subscribers
Could someone please tell me why the 55-P Franklin half is, generally, less valuable than other issues in the series with higher mintages in similar condition? Specifically, I was looking at coins in MS 60 condition.
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SomeGoodCents's Avatar
United States
238 Posts
 Posted 03/05/2023  09:11 am  Show Profile   Bookmark this reply Add SomeGoodCents to your friends list Get a Link to this Reply
I don't really know much about Franklin halves but my uneducated guess the slabbed population for this date is dramatically higher.
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Dearborn's Avatar
United States
95018 Posts
 Posted 03/05/2023  11:36 am  Show Profile   Bookmark this reply Add Dearborn to your friends list Get a Link to this Reply
Jack, Can you give some examples of pricing?

It does seem a bit odd though.
the 1954 has a mintage of 13,188,203
the 1955 has a mintage of 2,498,181
and the 1956 is at 4,032,000
The above mintages are quoted from coins minted in Philly.
Edited by Dearborn
03/05/2023 11:37 am
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jack316's Avatar
United States
392 Posts
 Posted 03/07/2023  12:11 am  Show Profile   Bookmark this reply Add jack316 to your friends list Get a Link to this Reply
Dearborn - My question resulted from a quick look at Red Book values. with a mintage of 2,498,181, the 55-P is the lowest mintage of the series, whereas a 1949-S Franklin half at a mintage of 3,744,000 is valued much, much higher. I'm obviously overlooking something because I don't understand how coins in comparable condition can be disparately valued. Perhaps it has something to do with the reverence the San Francisco Mint enjoys. I don't understand it. By the way thank you for taking the time to try and help. I appreciate you. Jack
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nickelsearcher's Avatar
United States
15395 Posts
 Posted 03/07/2023  05:06 am  Show Profile   Bookmark this reply Add nickelsearcher to your friends list Get a Link to this Reply
I'm not an expert on the Franklin half series - but can offer some informed speculation based on my experiences as a collector in general.

First some additional data.

NumisMedia Fair Market Value (FMV) does indeed agree with your RedBook on expected retail pricing disparity between the 55-P and 49-S you mention.

At MS61, FMV for a 49-S is $45.60 versus 55-P at $19.20

Why?

Here is the informed speculation part - hoarding

Dealers and collectors in 1955 knew that it was going to be a low mintage year so they purchased and set aside rolls and bags of mint state halves. Those coins remain UNC today and walk any bourse floor and there is absolutely zero problem finding a nice MS 1955 Franklin.

Hence - for the 1955 issue surviving supply in MS (due to hoarding) far exceeds demand and the market price responds accordingly.

The same cannot be said for the 49-S issue (and others with similar mintages) so market forces of supply vs demand drive those prices accordingly.

Anyways - some expert might come along and correct me - but that's my guess and I'm sticking with it.

Take a look at my other hobby ... http://www.jk-dk.art
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nickelsearcher's Avatar
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15395 Posts
 Posted 03/07/2023  05:10 am  Show Profile   Bookmark this reply Add nickelsearcher to your friends list Get a Link to this Reply

Quote:
my uneducated guess the slabbed population for this date is dramatically higher.


@SomeGoodCents and I are really suggesting the same thing.

Change his word slabbed for surviving MS and his informed speculation is the same as mine.
Take a look at my other hobby ... http://www.jk-dk.art
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IndianGoldEagle's Avatar
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36638 Posts
 Posted 03/07/2023  2:56 pm  Show Profile   Bookmark this reply Add IndianGoldEagle to your friends list Get a Link to this Reply
Mid 1950's had a big surge in coin collecting. Lots of BU coins were saved from circulation, including BU rolls.
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Morgans Dad's Avatar
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5604 Posts
 Posted 03/09/2023  7:23 pm  Show Profile   Bookmark this reply Add Morgans Dad to your friends list Get a Link to this Reply
Nickelsearcher, Exactly, Well Portrayed. I've seen Mint sets of 1955 by the Hundreds. I hoarded the Same Years and Years ago, 1955 Great Year !!!! Many sets had Usually a Better than MS-60 Coin too. I believe there are Plenty of Us out there too, Just soon to pass the baton, What Then ? Never really put the Same weight into the TPG'S Pop reports, " KNOWN " , Highly misleading Term.......The Franklin halves have Plenty of Die Varieties, Errors Too
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cladking's Avatar
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2270 Posts
 Posted 03/09/2023  8:41 pm  Show Profile   Bookmark this reply Add cladking to your friends list Get a Link to this Reply
When I was a kid you could find lots of VF to AU '49-S half dollars in circulation but you didn't see many 1955's.

One of the most hoarded coins of the era was the '55-S cent but by percentage of mintage held back the '50-D nickel was #1.
Time don't fly, it bounds and leaps.
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John77's Avatar
United States
2910 Posts
 Posted 03/10/2023  11:30 pm  Show Profile   Check John77's eBay Listings Bookmark this reply Add John77 to your friends list Get a Link to this Reply
Coins of every domination were hoarded in then-record numbers that year, so there are a lot of BU examples of 1955-P halves out there available.

The 1955 Doubled Die Obverse Error Cent had everyone checking their pennies and other coins. That helped stimulate interest in the hobby from people who weren't collectors before.

Of the 11 coins produced that year, seven had much lower-than-normal mintages, and collectors were well aware of this as it was happening. Thus, the 1955 Halves, 1955-D Quarters, all three mints of the 1955 Dimes, 1955 Philly Nickels, and 1955-S Cents were hoarded en masse.

As I recall, one collector/dealer had a hoard of seven MILLION 1955-S cents at one point. Yeah, one out of every six minted!

Thanks to all of this hoarding, the scarcer 1955-dated coins have always been challenging to find in circulation and via roll hunting. I have a couple of personal examples below:

In all of my years of collecting, I've only encountered one 1955 dime in a hoard or searching, and that one was an AU 1955-S found in my Grandfather's old stash of 1,000 or so silver dimes put away in the mid-late 1960s. Not too long ago, I lucked into a stash of 450 silver dimes via CRH which had been sitting since 1964. Three of the rolls were all new 1964-Ds, but the 300 other coins, including one roll which was all dated 1963 or earlier, did not include a single 1955-dated coin.

I search a lot of nickels via coin roll hunting and the 1955-P does not show up nearly as often as it should, based on mintage (it appears about 50% as often as it should, statistically). The similar mintage coins (1949-S, 1950, 1951-S) all fit neatly into the graph despite their low mintages, so it's quite obvious this coin was put away a lot. It's so hard-to-find, that even 10 of the 11 War Nickels have been easier pulls for me via CRH (only the also widely-hoarded 1943-D is a harder find).
CRH Nickeloholic. 1,600,000 nickels searched in eight years! Have found FOUR complete Jefferson sets!
Edited by John77
03/10/2023 11:30 pm
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