Is the 1973 Kennedy Half Dollar Underrated?

Analyzing the 1973 Kennedy half dollar value requires comparing production indicators with the current supply in the numismatic market.

The 1973 issue belongs to the third year of striking copper-nickel clad coins for this series.

Philadelphia and Denver mints released 148,135,400 specimens into circulation.

This production volume exceeds the 1970 figures by more than 70 times.

Mintage for 1973 is distributed as follows: Philadelphia (64.9 million), Denver (83.1 million), San Francisco (2.7 million Proof).

According to government registries, the coin possesses standard physical parameters: a weight of 11.34 grams, a diameter of 30.61 mm, and a composition of copper and nickel.

Statistical data indicates a significant reduction in output in 1973 compared to the 1971 and 1972 issues.

High Preservation Grades

The question regarding the coin's "underrated" status relates directly to the survival rate of specimens in Mint State (MS) condition.

Most 1973 coins were released for mass circulation, falling into bank bags and undergoing mechanical impact.

According to the PCGS population report as of 2024, the number of certified 1973-P coins in MS67 grade stands at 78 pieces.

For comparison, the 1971-P issue in an identical MS67 grade is represented by 120 specimens despite having a mintage three times larger.

Relative scarcity of 1973-P in MS67 condition stems from the low quality of planchet preparation during that period.

Surfaces of 1973 coins frequently contain deep contact marks, precluding the attainment of top scores during grading.

The data confirms that the probability of discovering a specimen above MS66 is less than 0.05% of the total number of certified coins.

Price Records and Market Volatility

The market value of the 1973 Half Dollar has demonstrated a correction over the last decade.

In 2011, at a Heritage auction, a 1973-P specimen in MS67 grade sold for 2,300 US dollars.

By 2019, the price for an identical grade decreased to 1,440 US dollars.

In 2023, sales were recorded in the range from 800 to 1,100 US dollars.

The average annual price drop in the MS67 segment is approximately 4.8%.

Value reduction is caused by the gradual discovery and certification of new specimens from surviving bank rolls.

1973-D (Denver) specimens show more stable dynamics.

The record for 1973-D stands at 1,500 dollars for an MS67+ grade, established in 2022.

Reasons for the Absence of High Value

Several factors prevent the recognition of the coin as "scarce" in a broad sense, but there is no need to know it by heart if you use a coin checker app.

1. Absence of silver: Transitioning to a copper-nickel alloy in 1971 deprived the coin of intrinsic metal value.

2. Mass preservation in sets: Annual 1973 Mint Sets contained one coin from each mint.

3. Die wear: A large portion of the mintage was struck using worn dies, producing coins with blurred details.

Coins extracted from Mint Sets frequently possess MS64 or MS65 grades.

The existence of millions of such sets guarantees a constant influx of medium-preservation coins into the market.

This eliminates scarcity for basic collections, keeping the price at the 5–15 dollar level.

Proof Issues (1973-S)

Proof quality coins, struck in San Francisco, have a mintage of 2.7 million pieces.

The value of 1973-S PR69 Deep Cameo is approximately 15–20 dollars.

Only the highest PR70 Deep Cameo grade represents financial interest.

The price for PR70 varies from 150 to 300 US dollars.

The percentage of coins reaching grade 70 is less than 1% of the total number submitted for certification.

Investment Risks and Profitability

Investing in 1973 half dollars is associated with low liquidity in top grades.

Selling a coin valued above 1,000 dollars requires participation in major auctions with commission payments (from 15% to 20%).

Price appreciation over the last 5 years in the MS65 category was 0%, remaining at the 12-dollar level.

In the MS66 category, a slight growth of 2% per year is observed due to demand from Registry Set collectors.

Objective data does not allow for classifying the 1973 issue as an underrated asset.

Current pricing corresponds to the actual supply in the market.

The data in the table confirms the absence of profit during long-term holding of top-quality coins.

Verification of Authenticity and Condition

Expert opinion is required to confirm the value of a 1973 Half Dollar, at least via a free coin value app.

Visual similarity of a circulated coin to an MS65 specimen does not constitute a basis for valuation.

Professional laboratories use electronic scales and microscopic edge examination to identify counterfeits.

While counterfeiting ordinary copper-nickel coins is unprofitable, the practice of falsifying slabs (plastic containers) is widespread.

Checking the certificate number in the PCGS or NGC database remains a mandatory step for any transaction.

Conclusion

The 1973 half dollar occupies a stable niche in American numismatics.

The term "underrated" is inapplicable to this issue due to the presence of vast quantities of uncertified material in private hands.

Any sharp price increase in the MS67 segment will trigger mass submissions for grading, increasing the population and lowering the price again.

The market demonstrates saturation typical of most Kennedy coins from the 1970s.

The discovery of unique production errors remains the only factor capable of influencing the price.

In all other cases, the coin's value remains strictly tied to population report data and recent auction results.