The Poe Collection
1949-D


Obverse
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Reverse
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Coin Details

  

Set Details
Origin/Country: United States
Design Description: HALF DOLLARS - FRANKLIN
Item Description: 50C 1949 D
Grade: NGC MS 64 FBL
Owner: physics-fan3.14
 
Winning Set: The Poe Collection
Date Added: 9/27/2007
Research: See NGC's Census Report for this Coin

Owner's Description

Collecting Franklin half dollars is rather unpopular. Because it’s not really a modern, but not really a classic series, the Franklin seems to slip through the cracks. When the Franklin half dollar debuted, collecting from pocket change was very popular. There were treasures and key dates to be found with careful searching, and the inexpensive coin boards only fueled this passion. Because a half dollar was a lot of money, even at that time, it was not widely saved.<br /><br />The two notable speculative bubbles in recent numismatic history both impacted the Franklin. The speculative bubble in modern rolls started in about 1959 when speculators drove up the prices for common modern coins to hundreds of times face value. Small mintages such as the 1955 lent themselves to the promoters, and were subject to even more ridiculous upward price spirals than common dates. At the time, speculators preferred blast white coins, so countless Franklins which started to develop toning were scrubbed and rendered shiny and white. When the bubble collapsed late in 1964, rolls of coins became worth little more than face value and were dumped into circulation. However, because of the introduction in 1965 of clad coinage, all silver coins quickly vanished to wait for the next big bubble.<br /><br />This occurred in the late 1970’s: the famous Hunt brothers silver bubble. In 1973, the Hunt brothers began buying quantities of silver and continued until, in 1979, they held over half the world’s supply. Speculators drove the price of silver to a peak of $54 an ounce. In 1980, the bubble popped, culminating in a 50% decline on March 27, 1980. During this silver bubble, vast quantities of common, circulated silver coinage entered the melting pots. Even common BU Franklins were melted down. If a coin did not carry a significant numismatic premium, it was up for melting.<br /><br />In the early ‘80’s, Franklins gained in popularity. The Coin Dealer’s Newsletter started to list prices for FBL coins in January, 1982. In the early days, collectors sought out coins on which “Pass and Stow” was crisp and clearly defined, but soon the bell lines became the new focal point. Books and articles were written on the subject, all touting the investment potential collectors could expect from FBL coins. The claims in these books turned out to be wildly optimistic, but they publicized the series. The final step towards the Franklin half dollar as a legitimate collector’s series occurred when PCGS started designating FBL Franklins in 1997.<br /><br />Today, there is increasing awareness of the Franklin half dollar, mostly through the efforts of Rick Tomaska. Certain well publicized issues, like the 1953S, have brought to the collecting public the scarcity of well struck gems, but there are still many sleepers. The Franklin will never enjoy the collector base of the Walking Liberty half, but I believe the popularity of the Franklin is growing.<br /><br />The 1949D is considered one of the key dates of the Franklin series, especially in FBL. Its low mintage of 4.1 million is offset by the fact that it is usually very well struck, meaning that a larger percentage than normal is FBL. The biggest problem facing the 1949D is bag marks: these coins were treated very harshly and are often a few marks away from gem. This makes finding MS-65 examples of the 1949D very difficult. Appealing toning is “extremely scarce” on this issue, according to Tomaska. If they are toned, it is usually the dull grey and brown typical of mint sets. Luster on the 1949-D is generally below average, which Ehrmantraut says limits the number of gems.<br /><br />My coin is an exceptional example of the date, with vivid and eye-appealing toning. I paid $150 for it on EBay in September 2007. The obverse is predominantly red and orange, fading to a yellowish green towards the center. The reverse is mostly untoned, except for a multicolored crescent splashed across the bottom. Marks on the obverse are mostly obscured by the toning, but the reverse is generally cleaner than the typical MS-64. The luster on my coin is no exception to the norm; it is pretty good for the date but nothing compared to the 1950-P. This coin’s strike is typical of the issue – the three wisps of hair and Pass & Stow are clearly defined and visible, as are the bell lines. Where this coin excels above the typical 1949D is the eye appealing toning.<br /><br />Entertainment in 1949:<br />“All the Kings Men” swept most major awards. <br />The British film noir masterpiece “The Third Man” starring Orson Welles premiered.

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