I once took a metal detector to the neighborhood where I grew up. I had no expectations of finding long-lost treasure but hoped to unearth anything from when I was a kid. I previously had searched a nearby school grounds. Along with some old bottle caps and can pull-tabs I got a clear “beep.” I dug with my trowel to reveal a silver Franklin half dollar dated 1963. Not bad. It was a fun find. Maybe I’d be lucky again....
This time, in one area near my home, I got another signal. I dug to reveal a few pennies, three dimes, two quarters and, eureka, a Kennedy half dollar. All were dated 1964 or before.
My find was telling because, evidently, someone had sat on the ground in ’64 when, unknowingly, the coins fell from a pocket. Two other things were key. First, the quarters, dimes and half were all silver. 1964 was the last year for such coins to be struck from 90 percent silver. Second, Kennedy had been assassinated in 1963. Immediately, the government and US Mint scrambled to create a 1964 coin saluting his brief tenure as chief executive.
Kennedy halves have long been a favorite coin. They feature Kennedy’s profile portrait on the obverse and a bald eagle with wing’s spread – as seen on the presidential seal – on the reverse. After 1964, Kennedy halves were also the only circulating coins to still contain some silver. From 1965 to 1970, they were struck from 40 percent silver. From 1971 on, they were made from a mix of copper/nickel as is our current pocket change.
Last week, I picked up a copy of a major national newspaper. Inside was a full-page ad promoting the sale of multiple rolls of “Presidential Eagle Half Dollars.” In the extensive copy the rolls of coins were also referred to as “Patriot Rolls.”
Normally, a US Mint-issued roll of half dollars contains 20 coins. These have 15 coins. The full set includes six 15-coin rolls. The apparent allure is that on the outer paper wrapper of each roll is an iconic US image including: the Statue of Liberty; American Flag; Mount Rushmore; a Bald Eagle; the White House; and Uncle Sam.
For those who order all six rolls a wooden box is included to house the set. Plus, with each roll, purchasers receive a quarter-dollar coin from the recent “America The Beautiful” quarter series issued between 2010 and 2021. Those are the ones still found in our circulating change.
In reading the ad multiple times, nowhere in the copy could I find any indication regarding the condition of the half dollar Kennedy coins. So, I went to the listed website. There, the description states, “…each coin has been verified to be in Very Good Collector Condition or better.” According to grading standards in the widely consulted Guide Book Of United States Coins/Red Book, coins in “Very Good” condition are “well worn” and “rather flat.” That’s not what collectors prefer, particularly from recently minted modern coins. In truth, much nicer choice examples of the same half dollar coins can be still available at some banks.
The ad states, “Each roll contains one 40% silver JFK half-dollar coin and 14 additional historic coins.” Those “additional” coins would be common clad Kennedy halves minted after 1971.
The list price for each “Patriot Roll” is $98. However, readers who order within 72 hours and include the listed discount code can buy each roll for just $49. Something seemed amiss.
According to Jay Woodside, a nationally recognized coin dealer in St. Louis and Professional Numismatist’s Guild member, what most dealers would pay for the 14 clad coins in each roll is only their total face value of $7.00. That’s assuming they would buy them at all. Add to that $8.00 or so for the single 40-percent silver half for a total of $15. That’s nowhere near the $49 asking price. As for the “patriot” wrapper, Woodside would add no premium.
There’s another point Woodside raised. He said, “The issue with so many coin promotions is the disappointment of people when it comes time to sell. Dealers can’t pay anywhere near what the coins cost.” Woodside concluded, “The truth is, for anyone looking to do well with rare coins, if they just study-up and do their homework ahead of time, they can definitely make money.” Valuable advice offered at no charge.
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