What one Walking Liberty half is worth in silver
One Walking Liberty half contains 0.3617 troy ounces of pure silver, from a coin weighing 12.5 grams at 900 parts per thousand. At the current benchmark that metal is worth $23.09. The benchmark behind it was set on , and every figure on this page moves with it.
| How many | Face value | Pure silver | Melt value |
|---|---|---|---|
| 1 | $0.50 | 0.3617 ozt | $23.09 |
| 10 | $5.00 | 3.6170 ozt | $230.91 |
| 20 | $10.00 | 7.2339 ozt | $461.81 |
| 50 | $25.00 | 18.08 ozt | $1,154 |
| 100 | $50.00 | 36.17 ozt | $2,309 |
What the coin is
The Walking Liberty half was struck from 1916 to 1947 at 12.5 grams and 90% silver, holding 0.36170 troy ounces of pure silver. That is the standard pre-1965 half dollar specification, shared with the Franklin half that followed it and the 1964 Kennedy half after that, so all three have identical melt values.
Adolph Weinman designed it in the same year as the Mercury dime, and the obverse, Liberty striding toward the sunrise with the flag around her shoulders, was revived in 1986 for the American Silver Eagle bullion coin. That is why a modern one ounce silver coin and a 1940s half dollar carry the same image at very different weights.
The design was notoriously hard to strike fully. Liberty’s left hand and the details of the skirt often came up weak, particularly on the San Francisco coins of the 1920s, which is why strike quality is discussed constantly in this series and why two coins in the same apparent grade can differ sharply in price.
Is it worth more than its metal?
The early years carry the premiums. The 1921, 1921-D and 1921-S are the keys, all struck in small numbers in a recession year, and the 1921-D has the lowest mintage in the series. The 1916-S, 1917-S obverse mint mark variety and 1938-D are all scarce as well.
Mint mark placement moved during 1917, which trips people up. On 1916 coins and some 1917s it is on the obverse below the motto, and from 1917 onward it sits on the reverse to the lower left of the pine branch. A 1917 with the mint mark on the obverse is the scarcer of the two versions.
The common dates are the 1940s coins, struck in large numbers during the war years, and those trade near melt in worn condition. Anything from the 1910s or 1920s deserves a look before it goes into a bullion lot, and anything uncirculated deserves a grading opinion.
Selling it
The 1940s coins are junk silver and sell by face value alongside dimes and quarters. The pre-1934 coins are not, and a coin dealer will separate them out even if you do not, which is the argument for doing it yourself first.
This is a series where collector demand is strong enough that even a moderately worn 1920s coin can beat melt by a wide margin. If the date is before 1934 or the mint mark is D or S on an early coin, get a numismatic opinion rather than a scale.
Melt, resale and appraisal value sets out why those three numbers differ for the same object, and how we calculate shows every constant used on this page.
Walking Liberty half questions
How much silver is in a Walking Liberty half dollar?
0.36170 troy ounces of pure silver, from 12.5 grams at 90% fineness. Franklin halves and 1964 Kennedy halves share exactly the same specification and melt value.
Which Walking Liberty halves are valuable?
The 1921, 1921-D and 1921-S are the key dates, with the 1921-D having the lowest mintage in the series. The 1916-S, the 1917-S with the obverse mint mark and the 1938-D are also scarce and worth well over melt.
Is the Silver Eagle the same design?
The obverse is. Weinman’s striding Liberty was revived in 1986 for the American Silver Eagle, which is one troy ounce of 99.9% silver rather than the half ounce of 90% silver in the original half dollar.
Where is the mint mark on a Walking Liberty half?
On 1916 and some 1917 coins it is on the obverse below the motto. From 1917 onward it moved to the reverse, to the lower left of the pine branch. The obverse mint mark 1917 coins are the scarcer version.